Beansprout Pro Portfolio Review (Aug 2026): Banks drive returns as bond yields rise

Beansprout Pro in Brief

• Our model portfolio returned 6.8% from its launch on 14 July through the end of August, with banks remaining the biggest contributor.
• But performance was not driven by banks alone. Construction and other portfolio holdings also contributed positively as Singapore’s earnings momentum broadened.
• At the same time, rising bond yields created a more challenging backdrop for REITs, while the strong run in bank shares has pushed valuations higher.
• AI related opportunities remain in focus, although investors are becoming more selective about whether heavy spending can translate into stronger returns.
• These cross currents leave us comfortable staying invested, but increasingly selective about where we put additional capital.
• In this update, we break down what drove the portfolio’s performance, where our views have changed, and how we are positioning the portfolio after August’s market moves.