Foord International Trust 20-Year Anniversary

Foord’s flagship global fund, the Foord International Trust (FIT), was launched 20 years ago this March. Multiple-counsellor portfolio manager BRIAN ARCESE examines the fund’s performance through the lens of the investment cycle.

FOREWORD | ISSUE 42 | 2nd QUARTER 2017

<p></p>

Morningstar Award - 4th Year In A Row

Foord was awarded Best Fund House – Smaller Fund Range at the Morningstar Awards held in Cape Town on 1 March 2017. This is the fourth year in a row that Foord has won this award, a pleasing testament to Foord’s focus on investing through investment cycles. Morningstar’s methodology emphasises one-year risk adjusted returns, but funds must also have delivered compelling three- and five-year returns after adjusting for risk within the awards peer groups in order to obtain an award.

The First And Foremost Rule Of Investing: Capital Preservation

Benjamin Graham, the father of value investing, defined an investment operation as “one which, upon thorough analysis, promises safety of principal and an adequate return.” Graham’s concept of safety of principal could easily have been expressed as “capital preservation,” one of the first and foremost rules of investing.

The Year Ahead

At the Meet the Team investor functions in November, MIKE SOEKOE discussed Foord’s outlook for investment markets in 2017. Mike’s presentation focused on capital preservation, as well as the effect of uncertainty and extreme volatility on investors' decisions. This article is an overview of his presentation.

FOREWORD | ISSUE 41 | 1st QUARTER 2017

<p></p>

The Year In Review 2016

It may be trite to state that 2016 was an eventful year for all of us in South Africa and around the world. NICK CURTIN describes some of the major events and market outcomes of the past year and gives them some historical perspective.

FOREWORD | ISSUE 40 | 4th QUARTER 2016

<p></p>

How Many Local Equity Funds Have Consistently Beaten An Index Fund?

Over the last ten years, which active managers have delivered consistent performance? As noted on Moneyweb earlier this week, there are a number of reasons why effective active management is possible. There are good reasons why skilled fund managers can outperform the market.

Foord Edges Allan Gray, Truffle In Latest Ranking Of SA Top Active Managers

There are various rankings of active fund managers, but the one I prefer is the one published by global group Morningstar, the Chicago headquartered investment research group. Its latest rankings of South African active managers, published below, puts Dave Foord’s value house top of the pile ahead of dead-heaters Allan Gray and the emerging boutique Truffle. There is daylight between these three and the rest of the country’s 23 biggest asset managers.