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Oct 2017
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Dear Client

I am glad that you have been patient with the underperformance of our Balanced FoF during 2016 as it is busy making a comeback, already at more than 11% YTD. It has already wiped out the -8.69% loss of 2016 and the CAR (Cumulative average return since inception), nett of all fees has moved up to 12.08%, moving back to its long term average CAR of 14%.

One of the main contributors of the good growth this year has been our 25% exposure to two fantastic offshore funds, namely Old Mutual Global (10%) and Sanlam India 15%.  The Indian fund’s YTD is already at 43.33%!  We expect good growth in India for at least the next 12 Months.

You may find the latest news on India Interesting (click here to read the article).

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