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Financial Consultants, Investment Advisors, Bangkok, Thailand, Asia
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April 2003 - Issue 16 |
Previous Issues
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The Global Investor is a monthly
newsletter that covers global investment opportunities and
insurance for the expatriate community. This monthly
newsletter's goal is to inform the reader of what can and
cannot be done in the investment arena when living and
working in a foreign country. Whether it's personal
pension plans or disability insurance to protect your income
- Global Investments has the expertise to handle all the
expatriate investors' needs.
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MARKET
COMMENTARY FOR APRIL 2003
There are beginning
to be signs that consumer confidence is waning
both in the US and the UK. This should be taken
as holding more serious implications for the
future state of investment markets than the
idea, growing in the daily articulations of
those involved, that the current conflict will
now likely continue to rumble on in its
apparently uncertain way for the foreseeable
future. The combination of these effects has of
course served to knock the top off the recent
equity rally.
Meanwhile recent volatility continues to present
its own temptations. One report extols the
virtues of dipping in and out of the market to
take advantage of the fluctuations. An example
quoted is that anyone who had the foresight, or
luck, to invest at the start of each of the four
rallies since the 11 September 2001 attacks and
sell at the top could have made returns in the
region of 60%. Over the same period, the FTSE
100 has fallen by about 25%. Perhaps luck is the
operative word here. Back to the well worn story
of taking the good days and missing the bad. The
trouble appears to be that the best and worst
days often come close together - therefore there
is a reasonable chance of getting it wrong. So,
staying with it and investing for the longer
term may be more productive than trying to go
for split second timing.
If you want some more figures to help the
medicine go down, research by Bestinvest has
shown that over the ten years to 31 December
2002, the FTSE 100 rose 37% excluding dividends.
If the best ten days are excluded then the FTSE
100 would have fallen by 11%! In addition, seven
of the ten best days over the past decade
occurred in 2002 when the index fell by more
than 25% - eight of the ten worst days were also
in 2002!
You know where this is going, don't you? That
old regular savings, pound cost averaging
chestnut and no better time to start than now!
Portfolio diversification is still getting a
good airing with the need to review holdings as
clients progress from having little by way of
responsibilities to having to consider more than
just themselves. One of the pundits considers
that someone in their thirties should have about
40% of their portfolio in international markets,
down from 50% in their twenties, and about 30%
in the UK with 25% in bonds. Commodities are
also on the list for consideration as part of a
well-balanced portfolio.
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The ideal property investment for
the discerning investor
MONTHLY FUND PERFORMANCE REPORT APRIL 2003
Overview
Following negotiations just concluded the Directors
can report the successful acquisition of three further
properties that bring the total number of properties
within the Fund to four.
The new acquisitions, as briefly mentioned in last
month's report, are high quality retail warehouse
& showroom units situated in the market town of
Haverfordwest in South Wales. Of particular interest to
the Directors are the excellent covenants and long
unexpired lease terms.
The units are respectively let to Halfords, Currys and
Allied Carpets and each lease has 18 years unexpired,
having been newly negotiated originally for 25 years
when the properties were completed in 1996. They are FRI
with upward only reviews every five years.
The buildings are of modern construction and benefit
from excellent parking space being situated on the
outskirts of this affluent market town, which is a
regional centre for commerce, farming and tourism.
The properties were acquired for a total sum in the
region of £4.5m with an Initial yield averaging
approximately 7% and are consistent with the Funds
cautious property strategy of securing substantial
covenants with long unexpired lease terms.
Regarding the latest performance figures detailed
overleaf, another (fifth successive) positive month sees
the shares now showing a return of + 5.50 % since launch
in November 2002, which is very encouraging.
Photographs of the new properties will be available
shortly and be posted on the web site along with details
of all properties within the portfolio. Further property
targets have already been identified and will be
vigorously pursued - more in next month's report.
For further information
please also visit our
web site: www.premierdiversifiedpropertyfund.com.
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| Monthly
percentage growth and price - The Premier
Diversified Property Fund plc |
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FUND |
YEAR |
1
Nov |
1
Dec |
1
Jan |
1
Feb |
1
Mar |
1
Apr |
TOTAL |
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STG |
2002/03 |
Launch |
2.70% |
0.39% |
1.84% |
0.10% |
0.38% |
+5.50% |
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1.000 |
1.027 |
1.031 |
1.050 |
1.051 |
1.055 |
- |
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EURO |
2002/03 |
Launch |
2.90% |
0.29% |
1.65% |
0.10% |
0.38% |
+5.40% |
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1.000 |
1.029 |
1.032 |
1.049 |
1.050 |
1.054 |
- |
| The
Premier Diversified Property Fund EUT |
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FUND |
YEAR |
1
Nov |
1
Dec |
1
Jan |
1
Feb |
1
Mar |
1
Apr |
TOTAL |
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STG |
2002/03 |
N/A |
Launch |
0.40% |
1.89% |
0.10% |
0.38% |
+2,80% |
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N/A |
1.000 |
1.004 |
1.023 |
1.024 |
1.028 |
- |
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Please
contact Global Investments for more information
on Tel. (+66-2) 662-2009 or e-mail at info@globalinv.org.
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