13 January 2020 View all posts

Global Strategy Fund - January 2020

The Ashburton Global Strategy Fund provides the FNB Advisory Wealth Solutions (CATII) with its offshore exposure and reflects the current macroeconomic house view of Ashburton Investments. There had been no further changes to the tactical asset allocation of the fund, post the August 2019 changes where global bonds were reduced by 2% and global cash increased accordingly
The Ashburton Global Strategy Fund returned 1.33% (provisional, after fees) for the month in US dollar terms, bringing the 12-month performance to 15.26%
Equities continued their strong positive performance during the month of December and within equities, emerging market equities outperformed their developed market counterparts for the month. The equity market delivered stellar returns for the 2019 year
Equities as measured by the MSCI All Country World Index (MSCI ACWI) and MSCI Emerging Markets Index (MSCI EM) posted returns of 3.52% and 7.46% for the month, bringing the 12-month performance of the MSCI ACWI and MSCI EM to 26.60% and 18.44% respectively (in US dollar terms)
Global bonds and global real estate posted positive returns for the month of December. The Barclays Global Aggregate Bond Index and the FTSE EPRA NAREIT Global Index returned 0.58% and 1.65% for December, bringing the 12-month performance to 6.84% and 23.58% for these asset classes respectively.