Mandate Overview25 Feb 2020
The Fund aims to achieve steady growth of capital and income through global asset allocation and superior stock selection across all industry sectors.
Prudential Namibian Balanced comment - Dec 19 - Fund Manager Comment25 Feb 2020
The FTSE/JSE All Share Index (ALSI) returned 3.3% on a total return basis in December 2019. The All Bond Index returned 1.9%. Cash returned 0.6%.
The NSX Overall Index returned 2.0% and the NSX Local Index returned 0.0% on a total return basis in December. Over a 12-month period the NSX Overall Index returned 4.6% versus 2.9% for the Local Index. The IJG All Bond Index returned 1.2% in December and 12.1% over 12 months. The IJG Money Market Index increased by 0.6% in December and by 7.5% over 12 months.
The Namibian dollar strengthened 2.5% against the euro, 2.1% against the pound sterling and 4.4% against the US dollar in December 2019.
The fund realised a total return of 1.3% for the month. Contributing positively to absolute performance was the fund’s exposure to SA and Namibian equities (excluding property), SA and Namibian bonds (excluding inflation-linked bonds) and Namibian cash. This brings the one-year performance of the fund to 9.3% (after fees).
The fund delivered a return of 8.3% per annum since inception (after fees) whilst the NCPI inflation index has increased by 5.3% per annum over the same period.