Foreword:
Well what can I say. Things got really bad due to the COVID-19 outbreak and oil price crash. I had to start off highlighting all my fund returns red in color and then only changing the few positive ones to green.
The COVID-19 outbreak has gone international with USA, Italy & Spain being the worst hit countries outside China. As you can imagine, this has completely decimated the FTSE (Europe) & S&P500 (USA) indices, READ: ~32% loss in a month.
Commentary:
The crash of FTSE & S&P500 took down all other indices worldwide. Hence, every single one of my equity investments plunged in deep red, even China who was thought to have somewhat recovered from the virus outbreak. The drop also reduced my MWR (annualized) down to 1.8% which was previously at 3.5% last month. I did receive my tax return to cushion the blow but honestly, it's like applying band aid on a botched open heart surgery.
Unfortunately, the ASEAN market received the biggest blow which may be due to the weakening of its local currencies. This is because investors are flocking to the stronger currencies (USD, EUR & Yen) amidst the volatile climate.
Still gradually transferring my P2P Lending repayments to StashAway.
Unfortunately, the ASEAN market received the biggest blow which may be due to the weakening of its local currencies. This is because investors are flocking to the stronger currencies (USD, EUR & Yen) amidst the volatile climate.
Still gradually transferring my P2P Lending repayments to StashAway.
Forward Strategy:
No change in monthly investment allocation, i.e. RM1,500 into FSM Mutual Funds and RM500 into StashAway. I personally think that the rapid 32% plunge in the FTSE & S&P500 means a lot of high value companies are on sale. With that, I have allocated an additional RM1,000 into StashAway which invests heavily into both the mentioned indices.