What did I do in the non-REIT space in the first 6 months of 2015, specifically in stocks which pay dividends? I added to my long position in Accordia Golf Trust which I initiated in late 2014. AGT's unit price fell to a level which I felt made it a fairly good investment for income. Of course, it has fallen to a lower level by now and I have been accumulating on weakness. I added to my long positions in Hong Leong Finance and Singapura Finance (both trading at a discount to their NAVs) as I believe that a rising interest rate environment should benefit them because their NIMs should improve. Interest income forms about 80% of their total income. So, they are not as resilient as the 3 local banks but they should benefit disproportionally when interest rates are higher......