The document is Analytics' monthly investment report for January 2012. It includes performance tables and charts for various Analytics funds of funds over various time periods. It also includes analysis of the managed equity fund's sector exposure and share holdings. The market commentary discusses the Greek debt crisis, austerity measures in Europe, and their implications for South Africa and its upcoming budget. It notes the difficult balance between social welfare and economic growth that South Africa must achieve.
2022 Navigate Uncertainty with the Right Asset AllocationQuantum Mutual Fund
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www.quantumamc.com
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We remain comfortable with our decision to adopt a neutral stance on equity vs. fixed income at the end of January as warning signals continued to appear in June
The pandemic and the subsequent stimulus packages set the pace for the investment year 2020. The return on Veritas’ investments was 6.8 per cent in the fourth quarter of 2020, bringing the investment return for the whole year to 5.6 per cent. The good investment result strengthened Veritas’ solvency, which increased by the end of the year to 128.8 per cent.
Whether you’re an individual taxpayer, an avid investor or you’re involved in running a business we invite you to view this informative presentation by Dr Chris Caton.
Dr Caton provides a general global and domestic economic market overview, including all aspects of the world markets and factors which will affect all of Australia over the next 6 -12 months.
The presentation includes:
> Financial markets
> Interest rates
> Exchange rates
> The share market and
> The implications of the budget.
2022 Navigate Uncertainty with the Right Asset AllocationQuantum Mutual Fund
Through this deck, find how to navigate uncertainty with prudent asset allocation by dividing investments across equity, debt and gold asset classes to help achieve your goals and minimize downside risks
www.quantumamc.com
LBS - Asset Allocation Model - July 2017 UpdateMark MacIsaac
We remain comfortable with our decision to adopt a neutral stance on equity vs. fixed income at the end of January as warning signals continued to appear in June
The pandemic and the subsequent stimulus packages set the pace for the investment year 2020. The return on Veritas’ investments was 6.8 per cent in the fourth quarter of 2020, bringing the investment return for the whole year to 5.6 per cent. The good investment result strengthened Veritas’ solvency, which increased by the end of the year to 128.8 per cent.
Whether you’re an individual taxpayer, an avid investor or you’re involved in running a business we invite you to view this informative presentation by Dr Chris Caton.
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The presentation includes:
> Financial markets
> Interest rates
> Exchange rates
> The share market and
> The implications of the budget.
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Global investment in infrastructure is increasing, with $70 trillion expected to be invested by 2035, making this an asset class too large to ignore.
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Keeping up with the demands made by prime brokers, regulators and investors will require top-notch management of resource and operations. These can help to control costs and deliver outperformance by enabling a greater level of agility to handle challenging markets.
To enable a more flexible operational base within their firms, hedge fund managers need to assess their existing provision of IT and services, along with partner relationships.
View this slideshow to discover the changing outlook for hedge funds from their own perspective as well as from key market analysts.
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In January–June, the return on Elo’s investments was 7.8 (-4.1) per cent, or EUR 2,007.5 million. The market value of Elo’s investments at the end of June was EUR 27.8 billion. The solvency ratio was 126.6 per cent and solvency capital was 1.6 times the solvency limit.
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T. Rowe Price – Survey Highlights: First Look Assessing the New Retiree Exper...T. Rowe Price
We surveyed recently retired 401(k) savers and workers approaching retirement age with 401(k)s to learn about their challenges and experiences. We learned that most are faring well, both financially and emotionally. In here we cover how they’re saving and spending, where they’re getting income, and how satisfied they are with their retirement experience.
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Globally, billions of people rely on infrastructure to live their lives, from the toll roads they drive on, the electricity that powers their homes and the water they drink.
Global investment in infrastructure is increasing, with $70 trillion expected to be invested by 2035, making this an asset class too large to ignore.
In this webinar, Gavin Peacock, Senior Research Analyst at CBRE Clarion Securities, will share his insights on global infrastructure as an asset class within portfolios, and its unique features.
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Keeping up with the demands made by prime brokers, regulators and investors will require top-notch management of resource and operations. These can help to control costs and deliver outperformance by enabling a greater level of agility to handle challenging markets.
To enable a more flexible operational base within their firms, hedge fund managers need to assess their existing provision of IT and services, along with partner relationships.
View this slideshow to discover the changing outlook for hedge funds from their own perspective as well as from key market analysts.
This presentation provides a comprehensive overview of the current pharmaceutical industry. It begins with a look at some of the changes facing the industry and then moves into a discussion on digital technology and its impact on pharmaceutical companies. From there, the deck explores two digital trends, mobile and eDetailing. The presentation wraps up with some examples of pharmaceutical companies their digital presence.
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The Deloitte CFO Survey: 2013 Q3 resultsDeloitte UK
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- CFOs' perceptions of external macro and financial risk have hit three-year lows.
- The financing environment for corporates has improved still further. Cost of credit is at its lowest and availability at its highest since the survey began in 2007.
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- Austerity is out and expansion is coming in. Cost control and cash conservation are moving out of favour. Expansion is, once again, the top priority for corporates.
About the Deloitte CFO Survey:
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With the election of Donald Trump ushering in a dramatic change to the US policy framework, we look at the potential impact of his policies on growth, interest rates and the markets. We look in particular at the current state of the global equity market and the risks and opportunities it presents to clients if the US economy speeds up and interest rates rise.
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
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How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
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The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
2. Table of contents
Page
Analytics market comment 3
Analytics funds of funds performance tables and charts 5
Analytics funds of funds monthly return tables 9
Analytics funds of funds risk analysis 10
Peer Relative Performance 12
Asset manager performance tables 15
Analytics funds of funds asset allocation 17
Analytics Cautious Fund of Funds characteristics 18
Analytics Managed Equity Fund sector analysis 20
Analytics Managed Equity share exposure analysis 21
Disclaimer 22
2
3. Analytics market comment
What will Mr Gordhan do?
After weeks of keeping global investors waiting, the Greek government last night voted to accept
another round of austerity measures so that the way can now be cleared for their European pay-
masters to open the taps of the second bail-out package that is needed to avoid a disorderly de-
fault next month. This acceptance of severe austerity measures followed a rejection last week by
the European troika of a previous set of Greek austerity proposals that apparently left a hole of
€325 million in their proposed €3.3 billion savings program. In addition to the savings outlined, the
current (and future) Greek government is expected to commit in writing to the implementation of
these measures. While the debate and the voting apparently took place behind an armed police
cordon, riot police battled with protestors as buildings burned in Athens and violence spread across
the country. Shops in Athens were looted and 34 buildings were reported as being ablaze as Greeks
vented their anger at the medicine that they are being forced to swallow in return for the bail-out
funds.
This new agreement also provides for a bond swap to ease Greece’s debt burden by cutting the real
value of some private sector holdings of Greek government debt by as much as 70%, finally offer-
ing some sobering insight into the true meaning of the word “sovereign”. Greek GDP is already
down by about 10% and some very tough times lie ahead for that economy and its citizens.
Reuters reports that on Saturday more than 100,000 people gathered in Lisbon’s Palace Square in
the largest rally against austerity and economic hardship since the country resorted to an EU-IMF
bailout last May. This mass rally precedes the start this week of the next quarterly evaluation of the
implementation of their bail-out and it comes amid concern that Portugal will need more bail-out
funds and maybe even a debt restructuring like Greece. The yield on 10-year Portuguese govern-
ment bonds rocketed all the way up to 15% in January and these yields are currently around
12.5% which is regarded as unsustainable territory and a signal that more help may be needed
soon.
But doubt lingers. With the prospect of a debt-to-GDP ratio of about 130% by 2020, has Greece
stepped away from the precipice or (as Business Day ponders today), in the absence of its own
depreciable currency, has its date with destiny merely been postponed again?
The UK’s Daily Telegraph newspaper asks the question whether the successful resolution of the
Greek debt talks has added to the impression that the crisis in Europe is in retreat and offers the
emphatic answer that regrettably, it is a view that is almost certainly wrong, in both political and
economic terms. The European Central Bank’s action of providing unlimited liquidity for the stricken
European banking system has bought time, but not addressed the causes of the crisis. The problem
of widely divergent competitiveness uncorrected by free-floating exchange rates remains exactly
the same as before. Therefore, German-driven fiscal discipline and structural reform have become
the order of the day as Greece is dragged into the 21st century. Restrictive labour laws are being
dismantled and the corrupt cronyism of the political and business class is being challenged like
never before. The article goes further by pointing out that European economies remain a million
miles away from the convergence necessary for an effective monetary union and the breakneck
speed with which Europe is now taking its medicine is proving economically disastrous. The latest
data out of Greece indicate an economy in a state of almost total collapse – a death spiral of plung-
ing output, multiplying bankruptcy and calamitous capital flight. The question is then posed as to
how much longer Greece’s always tenuous grip on democracy can survive such an onslaught?
3
4. Today’s editorial in the Business Day suggests that we should welcome the Greeks who bear such
important lessons for our political and economic leaders. This lead article mentions that while
the Greek economy will still have a debt-to-GDP ratio of around 130% by 2020, South Africa’s cur-
rent debt-to-GDP ratio is about 40% and rising, but adds that we do have a freely traded and liq-
uid currency that has proved quite capable in the past of depreciating sharply when investors lose
confidence in the sustainability of economic policy. Having digested President Zuma’s State of
the Nation speech last week, there are some doubts as to whether the government can imple-
ment its ambitious and much-needed infrastructure investment program while simultaneously
expanding the world’s most extensive welfare payment system, cutting the cost of doing business
in SA, and preventing corrupt state officials from plundering the coffers – all while avoiding the
temptation to allow our debt to keep rising towards that crucial level of 60% of GDP (even though
it is a level to which many European countries still aspire!).
The article ends off by suggesting that Finance Minister Pravin Gordhan will paint a clearer pic-
ture when he delivers his budget speech later this month even though there are too many contra-
dictions between government policy, what is happening on the ground, and the promises Mr Zuma
keeps on making. It is not possible to please all the people all the time indefinitely, as Greece’s
politicians are seeing now. Our Finance Ministry has a history of prudence and discipline and
there is no reason for this track record to be broken – the stark lessons from Europe are just too
painful.
The delicate balance between social responsibility and economic growth stimulus is something
that has been baked into South African fiscal and monetary policy over the last 17 years – but
some compromise is always necessary. The widespread social unrest that is currently part and
parcel of the European push to austerity, coming on the heels of food riots in Asia not so long
ago, the “Arab Spring” and the “OCCUPY” movement suggests that there must be a more serious
global focus on social issues, a complete antithesis to what is happening in Europe at the mo-
ment.
There are too many unanswered questions, differences of opinion, possible end-games and oppor-
tunities for political “one-upmanship” to expect global market volatility to subside any time
soon. However, the fact that equity markets look ahead and sometimes see through seemingly
serious events means that we should always remain alert for investment opportunities in risky
assets.
4
5. Analytics funds of funds performance tables
Snapshot of returns
1 3 6 12 24 36 60
Jan-12 month months months YTD months months months months
Analytics Cautious Fund of Funds
Actual fund 1.73% 2.07% 3.67% 1.73% 4.29% 7.09% 8.17% 6.80%
CPI 0.51% 1.53% 3.05% 0.51% 6.11% 4.78% 5.30% 6.47%
Analytics Moderate Fund of Funds
Actual fund 2.73% 2.79% 5.13% 2.73% 5.08% 9.57% 11.80% 6.12%
CPI 0.51% 1.53% 3.05% 0.51% 6.11% 4.78% 5.30% 6.47%
Analytics Balanced Fund of Funds
Actual fund 3.34% 3.33% 6.54% 3.34% 6.69% 11.69% 14.37% 6.33%
CPI 0.51% 1.53% 3.05% 0.51% 6.11% 4.78% 5.30% 6.47%
Analytics Flexible Fund of Funds
Actual fund 1.68% 1.54% 5.14% 1.68% 1.92% 5.06% 3.86% 1.83%
CPI 0.51% 1.53% 3.05% 0.51% 6.11% 4.78% 5.30% 6.47%
Analytics Managed Equity Fund
Actual fund 5.02% 4.52% 8.40% 5.02% 9.25% 15.00% 20.43% 7.40%
FTSE/JSE All Share Index 5.73% 4.79% 10.09% 5.73% 10.83% 15.64% 21.20% 8.82%
All returns refer to A-class returns and returns for periods more than 12 months are annualised.
The returns on the FTSE/JSE All Share Index are total returns.
The CPI numbers for periods shorter than 12 months have been computed on a pro-rata basis,
using a one-month lagged annual CPI value.
Since inception Compound return Annualised return Period
Analytics Cautious Fund of Funds
Actual fund 171.6% 11.3% Oct 2002 - Jan 2012
Analytics Moderate Fund of Funds
Actual fund 237.0% 12.2% Jul 2001 - Jan 2012
Analytics Balanced Fund of Funds
Actual fund 442.72% 13.3% Jul 98 - Jan 2012
Analytics Flexible Fund of Funds
Actual fund 309.97% 10.9% Jul 98 - Jan 2012
Analytics Managed Equity Fund
Actual fund 382.31% 16.3% Sep 2001 - Jan 2012
5
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Analytics Cautious FoF A
Analytics Mode rate FoF A
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Since inception: Analytics Cautious Fund of Funds
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Analytics funds of funds performance charts
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After-Tx cash
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Analytics Cautious FOF A since inception vs. Inflation and Cash
Analytics Moderate FOF A since inception vs. Inflation and Cash
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Feb-03 Feb-03
Jun-03 Jun-03
A nalytics Flexible FoF A
Analytics Balanced FoF A
Oct-03 Oct-03
Feb-04 Feb-04
Jun-04 Jun-04
7
Oct-04 Oct-04
Feb-05 Feb-05
Inflation
Inflation
Jun-05 Jun-05
Oct-05 Oct-05
Feb-06 Feb-06
Jun-06 Jun-06
Cash
Oct-06
Cash
Oct-06
Since inception: Analytics Flexible Fund of Funds
Feb-07 Feb-07
Since inception: Analytics Balanced Fund of Funds
Jun-07 Jun-07
Oct-07 Oct-07
Feb-08 Feb-08
Analytics funds of funds performance charts
Jun-08 Jun-08
Oct-08 Oct-08
After-Tx cash
After-Tx cash
Feb-09 Feb-09
Jun-09 Jun-09
Analytics Flexible FOF A since inception vs. Inflation and Cash
Oct-09 Oct-09
Analytics Balanced FOF A since inception vs. Inflation and Cash
Feb-10 Feb-10
Jun-10 Jun-10
Oct-10 Oct-10
Feb-11 Feb-11
Jun-11 Jun-11
Oct-11 Oct-11
10. Analytics funds of funds risk analysis
Drawdown and timing estimates
Jan-12
Drawdown Month(s)
Analytics Cautious Fund of Funds -3.13% May 06/June 06
Analytics Moderate Fund of Funds -11.13% Sep 08/Nov 08
Analytics Balanced Fund of Funds -14.78% Sep 08/Nov 08
Analytics Flexible Fund of Funds -17.55% Dec 02/Apr 03
Analytics Managed Equity Fund -22.82% Sep 08/Nov 08
Drawdown is defined here as the maximum peak to trough drop in the unit price of a fund
over its history, irrespective of the time period involved.
It is must be remembered that many funds will define drawdown as the maximum MONTHLY
negative return over the history of the fund.
Current annualised volatility
The current annualised volatility of the five Analytics funds is provided in the table below. The
annualised volatility is that of the monthly returns for each fund.
Jan-12 Volatility (%)
Current Low High
Analytics Cautious Fund of Funds 3.57% 3.18% 6.10%
Analytics Moderate Fund of Funds 5.62% 4.76% 13.80%
Analytics Balanced Fund of Funds 7.14% 5.74% 16.62%
Analytics Flexible Fund of Funds 4.25% 4.25% 18.56%
Analytics Managed Equity Fund 11.55% 7.80% 24.12%
All risk adjusted returns plotted in the charts have been calculated by dividing rolling 12
month nominal returns by the rolling 12 month volatility.
10
11. Rolling 12 month volatility for the Analytics Funds of Funds
28%
24%
20%
Rolling 12 month volatility
16%
12%
8%
4%
0%
Oct-03 Mar-04 Aug-04 Jan-05 Jun-05 Nov-05 Apr-06 Sep-06 Feb-07 Jul-07 Dec-07 May-08 Oct-08 Mar-09 Aug-09 Jan-10 Jun-10 Nov-10 Apr-11 Sep-
CFOFS MFOFS BFOFS FFOFS MANE
Rolling 60 month risk-adjusted returns for the Analytics Funds of Funds
4
Rolling 60 month risk adjusted returns
2
0
Oct-07 Mar-08 Aug-08 Jan-09 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11
CFOFS MFOFS BFOFS MANE
11
12. Rolling 60 month risk/return scatter graph for the Analytics Cautious FOF,
Analytics Moderate FOF and the Analytics Balanced FOF
40.00%
35.00%
30.00%
25.00%
Annualised Return
20.00%
15.00%
10.00%
5.00%
0.00%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00%
Annualised Risk
Cautious FOF Moderate FOF Balanced FOF Managed Equity All Share Index
Peer Relative Performance
Analytics Cautious Fund of Funds
Asset Allocation Prudential Low Equity:
Returns of selected Funds for periods to January 2012
12.00%
10.00%
8.00%
6.00%
4.00%
Quartile 1 limit
Analytics Cautious FoF B
2.00%
None
Quartile 2 limit
Quartile 3 limit
0.00%
1 Month 3 Months 1 Year 3 Years 5 Years
12
13. Analytics Moderate Fund of Funds
Asset Allocation Prudential Medium Equity:
Returns of selected Funds for periods to January 2012
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
Quartile 1 limit
4.00%
Analytics Moderate FoF B
None
2.00%
Quartile 2 limit
Quartile 3 limit
0.00%
1 Month 3 Months 1 Year 3 Years 5 Years
Analytics Balanced Fund of Funds
Asset Allocation Prudential High Equity:
Returns of selected Funds for periods to January 2012
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
Quartile 1 limit
4.00%
Analytics Balanced FoF B
None
2.00% Quartile 2 limit
Quartile 3 limit
0.00%
1 Month 3 Months 1 Year 3 Years 5 Years
13
14. Analytics Managed Equity
Domestic Equity General:
Returns of selected Funds for periods to January 2012
25.00%
20.00%
Quartile 1 limit
Analytics Managed Equity B
15.00% None
Quartile 2 limit
Quartile 3 limit
10.00%
5.00%
0.00%
1 Month 3 Months 1 Year 3 Years 5 Years
14
15. Asset manager performance tables
Snapshot of returns
ANALYTICS CAUTIOUS FUND OF FUNDS
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Current Managers
Analytics Managed Equity Fund 5.02% 4.52% 8.40% 9.25% 15.00% 20.43% 7.41%
Old Mutual SA Quoted Property Fund 4.58% 5.54% 9.00% 17.63% 19.54% 18.05% 12.05%
Stanlib Bond Fund 2.02% 2.98% 7.53% 14.63% 14.23% 9.85% 9.21%
Prudential Money Market Fund 0.45% 1.30% 2.67% 5.40% 6.02% 6.85% 8.43%
Investec Diversified Income Fund 0.41% 1.14% 7.26% 10.51% 9.96% n/a n/a
Investec Global Strategic Managed Fund 0.49% -1.64% 6.74% 4.21% 6.47% 3.85% 1.31%
ANALYTICS MODERATE FUND OF FUNDS
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Current Managers
Analytics Managed Equity Fund 5.02% 4.52% 8.40% 9.25% 15.00% 20.43% 7.41%
Old Mutual SA Quoted Property Fund 4.58% 5.54% 9.00% 17.63% 19.54% 18.05% 12.05%
Stanlib Bond Fund 2.02% 2.98% 7.53% 14.63% 14.23% 9.85% 9.21%
Prudential Money Market Fund 0.45% 1.30% 2.67% 5.40% 6.02% 6.85% 8.43%
Investec Diversified Income Fund 0.41% 1.14% 7.26% 10.51% 9.96% n/a n/a
Investec Global Strategic Managed Fund 0.49% -1.64% 6.74% 4.21% 6.47% 3.85% 1.31%
ANALYTICS BALANCED FUND OF FUNDS
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Current Managers
Analytics Managed Equity Fund 5.02% 4.52% 8.40% 9.25% 15.00% 20.43% 7.41%
Old Mutual SA Quoted Property Fund 4.58% 5.54% 9.00% 17.63% 19.54% 18.05% 12.05%
Stanlib Bond Fund 2.02% 2.98% 7.53% 14.63% 14.23% 9.85% 9.21%
Prudential Money Market Fund 0.45% 1.30% 2.67% 5.40% 6.02% 6.85% 8.43%
Investec Global Strategic Managed Fund 0.49% -1.64% 6.74% 4.21% 6.47% 3.85% 1.31%
ANALYTICS FLEXIBLE FUND OF FUNDS
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Current Managers
Analytics Managed Equity Fund 5.02% 4.52% 8.40% 9.25% 15.00% 20.43% 7.41%
Stanlib Bond Fund 2.02% 2.98% 7.53% 14.63% 14.23% 9.85% 9.21%
Investec Global Strategic Managed Fund 0.49% -1.64% 6.74% 4.21% 6.47% 3.85% 1.31%
Prudential Money Market Fund 0.45% 1.30% 2.67% 5.40% 6.02% 6.85% 8.43%
15
16. Asset manager performance tables
ANALYTICS FUNDS OF FUNDS
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Shadow Managers
Prudential Enhanced SA Property Tracker Fund 4.62% 5.50% 8.44% 18.23% 21.49% 19.26% 13.49%
Investec Property Fund 4.73% 5.58% 8.51% 16.69% 19.50% 16.97% 12.70%
Investec Gilt Fund 1.93% 2.70% 6.30% 12.44% 12.24% 8.41% 8.59%
Investec Opportunity Income Fund 1.01% 2.12% 4.24% 8.68% 9.30% 8.24% 9.16%
Coronation Strategic Income Fund 0.77% 2.15% 5.91% 10.72% 10.66% 10.12% 9.27%
Foord International Trust Fund -1.62% -2.12% 10.80% 6.63% 6.52% 0.88% 4.46%
Coronation Global Managed Fund 1.20% 0.40% 14.04% 12.64% 7.92% n/a n/a
Watchlist Managers
Coronation Property Equity Fund 4.56% 4.64% 8.17% 17.14% 20.41% 18.86% 11.94%
Nedgroup Flexible Income Fund 0.46% 1.26% 5.96% 10.11% 8.33% 8.07% 9.64%
Cadiz Absolute Yield Fund 1.36% 2.63% 4.97% 9.57% 9.70% 9.68% 10.44%
Old Mutual Enhanced Income Fund 0.82% 2.19% 4.21% 8.27% 8.34% 7.83% 8.40%
Allan Gray Orbis Global Fund of Funds -1.08% -2.02% 10.42% 3.79% 0.89% -0.94% 4.54%
Sarasin Equisar Global Thematic Fund (Rands) 0.15% -3.36% 7.32% 6.76% -1.00% 6.15% 1.62%
ANALYTICS MANAGED EQUITY FUND
1 3 6 12 24 36 60
Jan-12 month months months months months months months
Current Managers
Cadiz Equity Fund (seg) 5.77% 6.12% 10.92% 10.58% 15.23% 21.82% 7.56%
Coronation Equity Fund (seg) 4.99% 5.14% 10.36% 14.45% 20.20% 27.01% 13.17%
Investec Equity Fund (seg) 4.32% 4.08% 9.42% 13.57% 15.46% 18.04% 8.07%
Old Mutual Mining & Resources Fund (UT) 6.62% 2.65% 2.35% -5.82% 5.86% 19.12% 10.32%
Shadow Managers
Mi-Plan Beta Equity Fund 4.86% 5.27% 10.07% 11.59% 15.27% 20.24% 7.39%
Nedgroup Investments Value Fund 6.42% 6.73% 10.15% 11.07% 16.84% 23.22% 11.35%
Nedgroup Investments Rainmaker Fund 4.99% 5.00% 10.44% 12.27% 16.27% 20.15% 8.72%
Investec Commodity Fund 7.23% 5.11% 9.46% 3.97% 10.39% 16.50% 9.29%
Watchlist Managers
SIM Equally Weighted Top 40 Fund 5.75% 4.42% 10.53% 11.76% n/a n/a n/a
SIM Dividend Plus Index Fund 6.31% 9.60% n/a n/a n/a n/a n/a
Stanlib ALSI40 Fund 6.09% 3.65% 10.36% 9.78% 14.57% 20.15% 8.08%
16
19. Maturity spread analysis
Stanlib Bond
10.0%
18.8% 0.1%
20.0%
51.1%
0-1 yr 1-3 yr 3-7 yr 7-12 yr 12+ yr
Investec Diversified Income
31.1%
36.3%
7.0%
9.5% 16.1%
0-1 yr 1-3 yr 3-7 yr 7-12 yr 12+ yr
Analytics Cautious FOF
20.3%
44.1%
17.7%
10.2%
7.8%
0-1 yr 1-3 yr 3-7 yr 7-12 yr 12+ yr
19
21. Analytics Managed Equity Fund share exposure analysis
Top 10 shares in Analytics Managed Equity Fund
Dec-11 % of Equity Only Jan-12 % of Equity Only
SHARE Total SHARE Total
SASOL 10.48% SASOL 10.29%
MTN GROUP 8.42% ANGLO 7.99%
ANGLO 7.98% MTN GROUP 7.55%
BHPBILL 7.05% BHPBILL 7.09%
STANBANK 3.94% NASPERS -N 4.62%
NASPERS -N 3.74% STANBANK 4.11%
SAB 3.34% FIRSTRAND 3.07%
FIRSTRAND 2.76% SAB 2.98%
BRITISH AM. TOBACCO 2.71% BRITISH AM. TOBACCO 2.63%
BIDVEST 2.22% BIDVEST 2.32%
21
22. Disclaimer
The information and opinions contained in this document are recorded and expressed in
good faith and in reliance on sources believed to be credible. No representation, warranty,
undertaking or guarantee of whatever nature is given on the accuracy and/or complete-
ness of such information or the correctness of such opinions. Analytics will have no liability
of whatever nature and however arising in respect of any claim, damages, loss or ex-
penses suffered directly or indirectly by the investor acting on the information contained in
this document. Furthermore, due to the fact that Analytics does not act as your financial
advisor, we have not conducted a financial needs analysis and will rely on the needs
analysis conducted by your financial advisor. We recommend that you take particular care
to consider whether any information contained in this document is appropriate given your
objectives, financial situation and particular needs in view of the fact that there may be
limitations on the appropriateness of the advice provided. No guarantee of investment per-
formance or capital protection should be inferred from any of the information contained in
this document. Portfolio Analytics (Pty) Ltd and Portfolio Analytics Consulting (Pty) Ltd
are authorised financial services providers.
Unit trusts are generally medium to long term investments. The value of units go up as
well as down and past performance is not necessarily a guide to the future. Should a
portfolio have underlying international investments, fluctuations or movements in ex-
change rates cause the value of those underlying investments to go up or down. Unit
trusts are traded at ruling prices and can engage in borrowing and scrip lending.
A schedule of fees and charges and maximum commissions is available on request from
Investec Fund Managers SA Limited. Commission and incentives may be paid and if so,
would be included in the overall costs. Different classes of units apply to these portfolios
and are subject to different fees and charges. A fund of fund unit trust only invests in
other unit trusts, which levy their own charges, which could result in a higher fee structure
for those portfolios. Forward pricing is used. Unit trust prices are calculated on a net as-
set value basis, which is the total value of all assets in the portfolio including any income
accrual and less any permissible deductions from the portfolio. Quantifiable deductions
are the initial fee and annual management fee indicated above whilst non-quantifiable de-
ductions included in the net asset value price comprise brokerage, , auditor's fees, bank
charges, trustee and custodian fees.. Fund valuations take place at approximately 17h00
SA time each day. Purchase and repurchase requests must be received by the Manager
by 16h00 SA time each business day.
The Analytics portfolios are Collective Investment Schemes in securities, established and
administered by Investec Fund Managers SA Limited a Member of the Association of Col-
lective Investment Schemes, who appointed Analytics as its authorised agent to solicit in-
vestments in the portfolio and to manage the portfolio. The relationship between Investec
Fund Managers SA Limited and Analytics is governed by the Act, the Deed and formal writ-
ten agreements. Trustee - FirstRand Bank (011) 371 2111. Analytics Tel: (011) 463-9600
Fax: (011) 463-8279. Website: www.analytics.co.za
22