In Nov, I reinvest some of my dividend to increase my stakes in existing overseas counters BPY(+200) . IMBBY (+100) and KNOP(+200) in my portfolio. BPY is my largest holding which is a reit run by one of the largest asset management company Brookfield Asset Management (BAM). The other 2 counters (IMBBY/ KNOP) have provided good stable dividend yield at >10% and are currently undervalued. The purchase will increase my projected dividend to more than $69K annually in the coming year.
It has been wild ride for my Eagle Htrust holding in Nov . After reviewing the reit manager responses to SGX inquiries regarding its Queen Mary asset and substantial holder selling , I bought another 10k Eagle Htrust to average down my cost price.
Dividends received in Sep2019 from Foreign Investment: USD $1581
Interest received in Sep2019 from Foreign Investment (bond): USD $565
Interest received in Sep2019 from banks interest/FD/others in US: USD $399
Realized gain/loss : Nil
Dividends received in Sep2019 from SGX:SGD$2687
Interest received in Sep2019 from banks interest/FD/others in Spore: SGD $477
SGX Realized gain/loss : Nil
Total dividend and interest from my investment portfolio + bank/money market account + trading gain/loss generated SGD 6603.
YTD Passive income earned from investment only: SGD $59307
Dividend/Interest received from investment portfolio:
Liquid Networth distribution:
Monthly Dividend/Interest earned Y-to-Y changes from 2017 to 2019 :
Thanks for sharing!
ReplyDeleteThanks for reading
DeleteHi how do u screen and buy us bond or preferred shares with no withholding tax? Can share?
ReplyDeleteRead my first article on bond investing https://globalincome50.blogspot.com/2019/02/introduction-to-us-corporate-bonds.html. There is no WHT on all bonds. For preferred share, I have not written an article on how to check whether there is no WHT. However, you can check on http://www.quantumonline.com/debttable.cfm?SortColumn=Company&SortOrder=ASC . There is info whether the preferred shares are domiciled in countries without WHT. Countries like Bermuda, Cayman Is ,Monaco , Bahamas...etc have no WHT.. Most shipping MLP and reinsurance related preferred share are domiciled in those territories
DeleteHello
ReplyDeleteHi
I am researching Brookfeild Property partners (BPY) stock and find it attractive. But unable to fully understand why market is undervaluing this stock so much. Is it because of the high debt or is Brookfeild valuing their assets with such low cap rate that the Market does not agree. However, in their latest Q3 report all their disposed assets were sold above the bookvalue . So Brookfeild is able to demonstrate that the carrying bookvalue is indeed directionally correct. If this is true they are really undervalued.
Would greatly appreciate if you can share your perspective on this company . Most importantly the risk.
Thanks
BPY is extremely difficult to evaluate, I am in no position to tell you any anything. If you have access to seeking alpha, you can read about BPY from contributors with their pro and cons view on BPY nvestments.
DeleteFor me , I believe BPY being a LP REIT domiciled in Bermuda has prevented from included in the index fund and US investors have avoided BPY due to the K1 tax reporting due to being LP have caused it to be undervalued. As for non-US investors like me, I don't have issue with tax reporting and it setup is an advantage for non-US investors as we pay minimum WHT.
Based on what I have researched about BPY, there are four possible causes for unit underperformance I have identified so far (mind you, typical real estate risks cannot be the main cause since BPY stock price
underperformed relative to peers in both office and retail real estate sectors despite similar operational performance):
high fees,
agency risk (in particular, conflict of interest with BAM),
excessive debt,
investor perception of distributions significantly exceeding cash flows.