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29-01-2015, 12:19 AM
Fortune REIT has been on a tear recently, now close to HK$9, up from about HK$6 in 10 months, and exceeding the previous peak of two years ago. Yield has dropped to under 4.7%. A number of factors could be driving this - particularly denomination in HK$ which is tied to the US$, which is also moving higher. So Fortune REIT is in effect a bet on the US$, but with much higher yield than available on US$ cash. It is currently with a decent half yearly distribution. I have decided to take profits and divested yesterday, hope I don't regret the decision too much.