+Portfolio Results vs Various Benchmarks (*Excluding Dividends & Other Gains)
*Dividends & other gains adds about 12.5% points to the cumulative returns in SGD terms or 13.5% to the cumulative returns in USD terms.
+Portfolio result is inclusive of cash held. % of cash and equities varies throughout the stated period. When opportunities are abound, cash could be 100% all invested, or when risk is high and potential return is low, the cycle would be reversed, resulting in an increase in % of cash held.
