Despite the volatility seen in June due to BREXIT, my unit trust portfolio seemed to ride the market without much drama. Headline news speculated that the smart money moved to gold and gold miners to hedge and protect their portfolio from the uncertainties.
In my opinion, gold and gold miners had been sold aggressively in the past few years. Many gold miners were trading at all time low until the earlier part of 2016. With the speculative excess removed, eventually price will move according to the long term balance of demand and supply. My United Gold and General Fund was up 41.41% by end June. I have no intention to take immediate profit, as I believe it will be a while before excess bubble starts to build up in gold again.
Allocation ratio as of end June was 40% equity, 10% high yield, 50% bonds. I received cash dividend ......