FIC Core Portfolio Performance – As of Q2 2018

By | July 2, 2018

Quarterly Commentary

  1. Major indices experienced volatile movements during Q2 2018, however, FIC’s Core Portfolio experienced strong revaluation – partly due to market’s recognition on a couple key positions we had in significantly mis-priced Retail companies.
  2. The overall market is very richly priced for companies in indices (partly due to passive strategies indifferent allocation and purchase of all stocks in index).
  3. Entire US economy is still very strong. Therefore lots of small and medium sized listed or non-listed companies are going to be the main theme down the road.
  4. We expect major indices to be traded within a narrow range for quite a period of time.
  5. We will slowly ramp up the cash holding to approximately 10%-15% over next quarter, unless there is significant acquisition opportunities that demand more cash.
FIC Core Portfolio S&P 500 Total Return
2018 Q2 14.86%1 3.43%2
2018 YTD 19.90% 2.65%
2017-Calendar 32.39% 21.83%
2016-Calendar 29.31% 11.96%
  1. FIC Core Portfolio is not a tax-exempt account however, the return posted here is before considering tax liability generated by any investment activities. Returns reported here are all time weighted returns, therefore are not reflecting effect of deposits and withdraws on total dollar profits
  2. S&P 500 Total Return is FIC Core Portfolio’s benchmark. The return can be found at: http://performance.morningstar.com/funds/etf/total-returns.action?t=spy

Note: Past performance is not an indicator for future performance. There is no guaranty that such performance will be achieved in future.

 FIC Core Portfolio Cash as % of Total NAV
As of 6/30/2018 0.27%
As of 3/31/2018 8.14%
As of 12/31/2017 1.28%
As of 9/30/2017 5.41%
As of 6/30/2017 3.59%

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