With markets back at all-time highs, our Family Retirement Portfolio (FRP) crossed my arbitrary $1k threshold to trigger a rebalance. Both S&P 500 and Nasdaq 100 are breaking all-time highs, pushing our equity allocations more than $1k past target allocations. DBS shares also broke out after its 1-for-10 split and good earnings report. So, I took this opportunity to trim some ETFs and DBS shares.
In total, I sold close to US$7k worth of ETFs VT, QQQ, and ARKK. As for DBS, I sold 200 shares for around S$7k+. I put around S$2k of that cash back into Syfe REIT+ and Income+, since both these asset classes lagged equities.
Cash proceeds from these sales came up to ~S$16k, pushing cash allocation to my target 18% (max allocation, taking into consideration risk-free interest rates).
Going forward, besides the usual RSP into ETFs, I’ll be waiting for a pullback before another rebalancing exercise to deploy cash back into the market.
At the moment, the market seems a tad overheated IMO. Most of the companies I follow reported earnings below expectations. Interest rate cuts have been pushed back and inflation appears to be stickier than ever. No end in sight for the conflicts in Europe and the Middle East.
If equities and crypto continue to outperform, I’ll continue to modestly rebalance into bonds and REITs which appear to be trading at attractive valuations. Typically, I try to rebalance only once a quarter and maximum once a month but only when there are big diverging moves.
How are you managing your portfolio at this time?
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