Fusion Portfolio and SMSF Performance
Our SMSF has had a tremendous quarter, easily the best ever. I’ve set the following graph to a base of $100,000 as the figures don’t matter it is the performance that I’m pleased about.
While I don’t normally share my actual positions and won’t make a habit of it I’m hoping it doesn’t hurt this once, though I see little value in doing so. Perhaps my sector weighting and concentrated style may be of some interest. ‘All Others’ is mainly MQG and a couple other tiny positions, which I must get around to selling. Don’t take anything here as a recommendation.
The Fusion Portfolio had a great month and has increased it’s outperformance to 17.5%.
Despite the excellent outperformance the portfolio remains underwater after 18 months, though it could burst into positive territory any week now. That’s disappointing, but most fund managers have done worse and they get paid to spend all day managing their funds.
I’m still ambivalent as to the future of the Fusion Investing Portfolio. The main reason for starting the portfolio was to highlight the dual ludicrous claims that markets can’t be timed and that maintaining a 100% equity allocation is a sensible strategy. I feel I’ve proved those points and aren’t sure why I should keep the portfolio going.
Swapping back to real life my updated investometer is below. I now realise that the investometer only tells part of the story. I raised cash in the larger account via sales of JetBlue Airways and Facet Biotech, but due to equity appreciation the cash raising is muted on the chart. Similarly, rising equity values exaggerated the effect on the cash balance in the growing account, after I made one investment. Still it’s not a bad snapshot tool and I’m happy with the investment level in each account.
If US equities continue to rise I will sell further positions in the large account. Two retailers and three tech companies are top of my sell list right now.
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