SRS Portfolio - 6 April 2024

Since my last update, the SRS portfolio has received a pathetic cash interest of $6.46 for the month of March and a distribution of $1,275 from Frasers Centrepoint Trust. 

Which is the main reason why I moved $50,000 cash from SRS to Endowus to put it into two money market funds, which funnily enough gave me a better interest for April as there was a cash gift of $50. 😆 

I have shared with you earlier how I max out my idle cash, and probably UOB read it as well and decided to cut its interest rate. With effect from May 1, the interest rate will be reduced from 5% to 4% but the silver lining is that they increase the cash that can earn the 4% from $100,000 to $150,000. To be fair, it is still a good deal as fixed deposits earn you at best 3.35% and you are locked up for the period, while UOB One Account allows me to withdraw the cash at any time and still earn miles on the spent on credit card.

Effectively, what that means is as follows:

1. First $150,000 set aside in UOB One Account to earn 4% per annum (subject to salary credit + $500 spent on eligible credit card)
2. Next amount up to $500,000 in Trust Bank to earn up to 3% (subject to union membership + 5 credit card transactions)

The drop in interest rate probably means that it may be a good time to start positioning into REITs. In any case, there aren't many investment options on SGX, other than banks and REITs.

Global Portfolio - Long Term

I am taking a longer term view of the market and using ETFs and buying stocks that I like to hold for the longer term. As such, this is a portfolio that will be built up over time and hopefully it can compound at high single digit. This basically takes away the excitement of trying to time the market but actually construct a portfolio that potentially can help me retire comfortably.

This week I added Apple and new positions include Amazon and NVIDIA. The portfolio value is USD 13,898.

So long for now and have a good weekend!