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Singapore's economy heading for melt-down?


  • edited January 2014
    I noticed that MACSX has 27.8% of net assets in their top 10 holdings and of that, 8.5% is in three stocks located in Singapore.

    Singapore Technologies Engineering, Ltd. 3.4%
    Keppel Corp., Ltd. 2.6%
    United Overseas Bank, Ltd. 2.5%

    And of the 60 some odd holdings in the funds, my guess is that there are 4 or 5 more out of Singapore.

    Of all my dedicated holdings in the Pacific/Asia, developed and emerging markets arena (about 8% of my total portfolio), are in MACSX and MAPIX. I also hold SGOVX and ARTKX.

    MACSX has been slipping for a while now and MAPIX is not getting off to good start in 2014.

    I am wondering if it is long overdue to re-allocate some from MACSX and MAPIX to SGOVX and ARTKX (which is 73% greater Europe). Or, since MACSX and MAPIX are located in two different retirements accounts and I have a lot of versatility, possibly some other international fund combination. Being that MAPIX has a soft close, I would want to keep some position in it.

    Your thoughts would be appreciated.


  • I have owned MACSX for over ten years and have no intention of selling. I just posted the article about Singapore as I had not seen anyone else forecasting a meltdown of its economy. Although the real estate is frothy and there can be some correction, I doubt there will be a melt-down like Iceland.

    Some other observations.

    GDP contracted (-2.7%) in last quarter
    Debt to GDP is improving

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