For conservative, absolute return-orientated global investors.
The fund is a conservatively managed portfolio of listed securities on global exchanges including equities, exchange traded funds, interest-bearing securities, property and cash deposits.The investment managers will allocate assets across these asset classes in a fully flexible manner in variable weightings as appropriate.The fund aims to achieve long-term inflation-beating US$ returns over rolling five-year periods, resulting in equity like long-term returns, but with lower risk.
Notwithstanding the flexible asset allocation policy, the fund outperforms world equity markets over the long term with lower volatility and a lower risk of loss (as measured by maximum drawdowns). The graph below shows the funds annualised returns and the US inflation rate over the rolling five-year cycles and the real return over the same period. The graph demonstrates that the fund has consistently delivered real returns of approximately 5% per annum in US dollars over rolling five-year cycles.
The World Trade Organisation (WTO) is the guardian of the rules-based system of global trade. US President Donald Trumps displeasure with the WTO is clear as he provokes trade wars with China and with the USs
South Africas sixth democratic elections are now over. PAUL CLUER takes stock of South Africas economic and investment prospects under the new administration.