2009/11/12 00:00:00

The funds return to date has been very good and the fund has been a good performer in its sector over the last twelve months. This fund is a low risk fund most suited for investors who want long term inflation beating returns. Most of the investors who invest in this fund are very conservative. We would caution that its harder and harder to find value in the market. Most of our managers are of the same view that the market has become over bought and it's the consensus view that the market is pricing in growth that is not achievable. We reduced our property exposure on earnings concerns due to drastic cost pressures. A decent correction would enable us to increase our equity exposure, we will remain patient and wait for better buying opportunities.