Dear Client

 

25 March 2014

 

Here you can find a report from Money Mate International, according to which Kanaan Balanced Fund of Fund, in which you are invested, has done very well over the 6 month period, since the 1^st of August 2013 (when we decided to invest more in growth funds and to switch at least 20% to regulated offshore funds, which is the maximum we are allowed to switch).  You will notice that the fund ranked 34^th over the 6 month period, compared to 148 funds in the category Multi Assets High Equity and came 4^th compared to other fund of funds.  Of course you want to be in a fund of fund so that you are much better diversified.  You will notice that the fund returned 9.8% over the 6 month period.  If we can maintain this growth rate, you may see 18% for the 12 month period. (See attached page 1 – 3).

 

 

Kanaan Flexible Fund of Fund is managed similarly to Kanaan Balanced, but without the restriction of the Pension Fund Act, where we are required to hold 25% in the Money Market.  Kanaan Flexible came 21^st over the 6 month period in the flexible category, and 4^th amongst Fund of Funds in the Flexible Category, with 11.17% growth over the 6 month period. (page 3 – 5).

 

Friendly Greetings

Andre Delport