Investing for Income in the Philippine Market - January 2011 Update

The Philippine Stock Index (PSEi) continued to decline from its all time high in Nov. 2010. PSEi shed 8.1% in the month of January 2011 mainly due to lack of fresh leads, and the issues of overheating inflation in China and the political crisis in Egypt. Our fund, on the other hand, also decreased but by mere 0.4%. More information about the Fund here: http://www.jcmiras.net/surge/p280.htm

PSE Income Performance

Top 10 Holdings as of January 31, 2011;
FPHP (Preferred), Manulife Financial Corporation, Globe Telecom, Inc., Philippine Long Distance Telephone Company “Common”, Sun Life Financial Inc., Centro Escolar University, Petron Corporation (Preferred), Shang Properties, Inc., Far Eastern University, Cash

Year-to-date Dividend Income: 0.2% (Net of taxes. All income are re-invested)