Prudential Namibian Balanced comment - Sep 19 - Fund Manager Comment25 Oct 2019
The FTSE/JSE All Share Index (ALSI) returned 0.2% on a total return basis in September 2019. The All Bond Index returned 0.5%. Cash returned 0.6%.
The NSX Overall Index returned 4.9% and the NSX Local Index returned 6.5% on a total return basis in September. Over a 12-month period the NSX Overall Index returned 0.5% versus 5.5% for the Local Index. The IJG All Bond Index returned 0.4% in September and 15.7% over 12 months. The IJG Money Market Index increased by 0.6% in September and by 7.6% over 12 months.
The Namibian dollar strengthened 1.1% against the euro and 0.1% against the US dollar, but weakened 1.1% against the pound sterling in September 2019.
The fund realised a total return of 1.6% for the month. Contributing to absolute performance was the fund’s exposure to international and Namibian equities (excluding property). This brings the one-year performance of the fund to 2.1% (after fees).
The fund delivered a return of 8.3% per annum since inception (after fees) whilst the NCPI inflation index has increased by 5.4% per annum over the same period.
Prudential Namibian Balanced comment - Mar 19 - Fund Manager Comment28 May 2019
The FTSE/JSE All Share (ALSI) returned 1.6% on a total return basis in March 2019. The All Bond Index returned 1.3%. Cash returned 0.6%.
The NSX Overall Index returned -2.0% and the NSX Local Index returned 2.9% on a total return basis in March. Over a 12-month period
the NSX Overall Index returned -0.1% against 3.3% for the Local Index. The IJG All Bond Index returned 1.4% in March and 10.5% over 12 months. The IJG Money Market Index increased by 0.6% in March and by 7.7% over 12 months.
The Namibian dollar weakened by 3.3% against the US dollar, 1.9% against the euro and 1.0% against the pound sterling in March 2019.
The fund realised a total return of 1.2% for the month. Contributing to absolute performance was the fund’s position in foreign and SA equities (excluding property). This brings the one year performance of the fund to 6.8% (after fees).
The fund delivered a return of 8.9% per annum since inception (after fees) whilst NCPI inflation has increased by 5.5% per annum over the same period.