Prudential Namibian Balanced comment - Sep 12 - Fund Manager Comment29 Oct 2012
September was a good month for us in almost all asset classes. On the equity side our Resource and Industrial stock selection added value, whilst on the fixed interest side corporate bonds outperformed both Government and Government guaranteed bonds. Within our offshore portfolios our exposure to Europe added to performance once again.
The fund returned 1.28% for September.
The NSX Overall Index gained 1.66% in September whilst the NSX Local Index increased 1.63%. Over a 12-month period the NSX Overall Index returned 20.93% against 25.67% for the Local Index.
Due to inconsistencies the returns of the Namibia Bond Index were not available, but the IJG Money Market Index increased by 0.45%. Over 12-months the IJG Money Market Index has increased by 5.80%
Namibia's headline consumer inflation braked to 5.8 % year-on-year in August from 6.0 % in July. On a month-on-month basis inflation also slowed, to 0.3 % in August compared with 1.0 % the previous month.
During the month the Namibian Dollar strengthened by 1% against the US Dollar, but weakened by 0.7% against GBP and by 1.2% against the euro. The MSCI World Index gained 2.8% on a total return basis in US Dollar terms for the month.
Prudential Namibian Balanced comment - Jun 12 - Fund Manager Comment23 Aug 2012
The Fund returned 1.23% for June, with Namibian and South African equities being the major contributors to performance.
The NSX Overall Index gained 2.53% in June whilst the NSX Local Index increased 0.95%. Over a 12- month period the NSX Overall Index returned 6.67% against 35.52% for the Local Index.
The IJG All Bond Index (including Corporate Bonds) rose by 2.52% in June. Namibian bond premiums relative to SA yields in June were mixed. Over 12 months the IJG Money Market Index increased by 5.85%
Prudential Namibian Balanced comment - Mar 12 - Fund Manager Comment28 May 2012
The NSX Overall Index fell 2.84% in March. Over a 12 month period the NSX Overall Index returned 4.37% against 43.08% for the Local Index.
The IJG All Bond Index (including Corporate Bonds) rose by 0.60% in March. Over 12-months the IJG All Bond Index is up 10.69%. Namibian bond premiums relative to SA yields in March were mixed.
Prudential Namibian Balanced comment - Dec 11 - Fund Manager Comment22 Feb 2012
The Fund returned -0.3%% over the month with the declines in local and international equity being offset to some extent by positive returns from listed property and international bonds.
The NSX Overall Index fell 0.17% month on month in December whilst the NSX Local Index increased 0.21%. Over a 12 - month period the NSX Overall Index returned -0.65% against 36.75% for the Local Index. The IJG All Bond Index (ALBI - including Corporate bonds) rose by 0.34% month on month in December with Nambian bond premiums relative to SA yields in December being mixed. Over 12 months the IJG All Bond Index is up 5.51%.