“Investing is half as technically complex as it is often taught but twice as emotionally difficult as it is often assumed” – Warren Buffett
Portfolio Analysis as at 31 December 2025:
| Number | Weight | Average Yield | Average Volatility | Average Discount/Premium | Average Q/V/M | |
| Direct Equities | 9 | 49.29% | 4.10% | 2.55 | N/A | 85/47/69 |
| Funds (ITs/ETFs) | 6 | 47.43% | 1.33% | 2.00 | -6.17% | N/A |
Combined Yield (weighted) = 2.03%
Combined Volatility (weighted) = 2.32 (Balanced)
QARP Checklist as at 31 December 2025:
| QARP Checklist | Pass Rate | Average |
| ROCE % (5 Yr Avg) | 15% | 23.12% |
| ROE % (5 Yr Avg) | 15% | 22.78% |
| CROIC % (Last Year) | 15% | 37.36% |
| Gross Margin % (5 Yr Avg) | 20% | 64.61% |
| Operating Margin % (5 Yr Avg) | 10% | 21.87% |
| Net Gearing % (Latest) | 30% | -54.33% |
| P/OCF (TTM) | 20 | 13.77 |
| PEG (TTM) | 2 | 1.30 |
| EV/EBITDA (TTM) | 20 | 9.73 |
| Earnings Yield % (TTM) | 5% | 11.42% |
| Dividend Yield % (TTM) | 1% | 4.10% |
| EPS Growth % (1 Yr Forecast) | 5% | 10.74% |
| Checklist Passes n/12 | 8.25 |
2025 Portfolio Performance v Benchmarks:
| CGI | FTSE All Share (TR) | Vanguard World (VWRL) | |
| Q1 | -7.48% | 6.31% | -5.92% |
| Q2 | 8.58% | 2.97% | 5.35% |
| Q3 | 10.49% | 6.64% | 9.20% |
| Q4 | 14.03% | 7.10% | 3.74% |
| YTD | 26.58% | 25.03% | 12.27% |
Historic Performance (since CGI inception):
2025: +26.58% total return
2024: +21.36% total return
2023: +8.50% total return
2022: -13.07% total return
2021: +17.06% total return
2020: +2.10% total return
2019: +50.18% total return
2018: +20.36% total return
2017: +59.11% total return
2016: +29.46% total return
Annual average return since inception: 22.16%
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