Our Alpha Picks rose 6.3% mom and outperformed the STI which rose 5.1%. However
our portfolio underperformed on a quarterly basis, up 5.3% in 1Q22 vs the STI’s 9.1%
increase. For Apr 22, we add SIA Engineering and MM2, both being key beneficiaries
of Singapore’s reopening after the COVID-19 peak, while we like Venture’s robust
demand outlook. We have elected to take profit on BRC Asia and YZJ, up 11% and 53%
respectively since their inception into our portfolio.