Crystal Ball Investing

“Crystal ball investing” appropriately invokes images of smoke and mirrors, charlatanism and faux clairvoyance. None of these has any place in investment practice, as JULIE MACLEOD-HENDERSON explains.

Good Governance

Environmental, Social and Governance (ESG) considerations have gained prominence in investment circles over the last decade. NICK CURTIN explains how ESG principles have formed a part of Foord’s DNA for decades.

FOREWORD | ISSUE 35 | 3rd QUARTER 2015

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Consistent Top Ranking Returns

Consistency is key to long-term investment success. Recent unit trust performance data released by Morningstar highlight the consistency of Foord’s long-term track records across all its flagship investment strategies for periods ended 31 May 2015.

Foord International Fund

The Foord International Fund (FIF) was launched as a global equity fund in 1997 when South African exchange controls were first relaxed. It was a tumultuous time for global equity markets. Price-earnings multiples (PEs) on the S&P 500 Index in the USA had been rising steadily. PEs on the S&P 500 grew from around 15-times earnings in 1995 to around 20-times earnings when the fund commenced. They headed even higher as investors speculated in the dot-com bubble leading up to the early 2000s.

Tax Free Accounts Available

Tax free investment accounts are operated in terms of S12T of the Income Tax Act. Investors utilising these accounts earn “tax free” income and capital gains.

Morningstar Win

We are proud to announce that Foord was awarded Best Fund House – Smaller Fund Range at the recent Morningstar Fund Awards.

Tax Free Savings Accounts

Tax Free Savings Accounts (TFSA) were recently authorised to “go live” from 1 March 2015. The final regulations on the requirements for tax free investments were issued last week.

The Value And Importance Of Co-Investment

Investors often, and in good faith, entrust their hard-earned savings to professional fund managers. The fund manager is tasked with managing the investments in accordance with a written investment policy or mandate.

Consistency Is Key To Investment Success

Morningstar recently released their 2014 investment return survey for the South African unit trust industry. Some investors have come to expect Foord’s funds to top the rankings every calendar year and may be disappointed that we did not achieve a Top-3 place in 2014.