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10 Nov 2016

Dear Client/Investor


10 November 2016


We must take it into account that Zuma may still eventually suspend Pravin Gordhan.  It is difficult to say at this stage who will win this battle over the short term, because of which we will keep the maximum of 25% Dollar denominated funds in both our unit trust fund of funds.  The strengthening of the Rand has been hurting us, but I do not think it will strengthen much further and the risk of the Rand depreciating back to R17 / $1 US is not negligible.


The economist Dawie Roodt said in his newsletter that the appointment of Donald Trump as the president of America is causing further uncertainty and he said:  “Should you sell and hide in cash?  No!  The best anybody can do, is to ensure that your portfolio is properly diversified, that your investments correspond with your risk profile and to make sure you have a good team looking after your assets.”


Friendly greetings


Andre Delport  

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