Feb 2022 SG Portfolio Performance: +3.08% year-to-date, +125.67% total

February has been an eventful month, we reach ATH (all time high) in the number of Covid19 cases. We see STI burst through the 3400 mark (which was briefly touched in 2019) led by the banks only to plummet back to below 3300 within a few days due to the outbreak of the Ukraine war. In addition, inflation is at multi decade high. 

Like previous month, my system's SG portfolio managed to eke out a small gain of 1.36% in February. SGX:ES3 (my STI ETF benchmark) got the same gain at +1.34% inclusive of dividend.  System's year-to-date return rose to +3.08% slightly behind ES3 +4.84%. Total return since inception is now +125.67% while ES3 returned merely +37.61% for the same period. 

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Below is the chart showing the SG portfolio's monthly return since inception.

On the US side, the sell-offs continued into February as we got closer to the first rate hike in almost 3 years. The Russia attack on Ukraine only made matters worse. However the indexes staged a comeback nearing the end of the month likely due to bargain hunting and investors banging on the hopes that the Feds may ease tightening policy due to the ongoing war in Ukraine. System's US portfolio was somewhat cushioned from the sell-off and volatility as it was having around 80-90% cash most of the time. The SPY fell 2.70% in February while my system's US portfolio only fell 0.89%. So this month the system beat the market again by losing less.

Below is the chart showing the US portfolio's monthly return since inception.

As we get closer to the first rate hike in 3 years coupled with high inflation and geopolitical uncertainty, I believe we will continue to see more weakness in the market in US. On SG side, the bank heavy STI seems to benefit more from the rate hike than the risk of high inflation. However, geopolitical tension will continue to pressure the SG market as we move into March.

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