In February our average prudential balanced portfolio returned 1.12% (January 2.92%). Top performer is Stanlib (1.68%), while Allan Gray (0.55%) takes bottom spot.

For Namibian funds, the weakening of the Rand vs the US$ by 6.9% over this 12 month period was more than offset by the poor performance of the MSCI World Free Index that produced -1.1% including dividends, in US$. Comparing the 12 month performance of managers with a high off-shore exposure, such as Investec (31.5%), Allan Gray (30.4%) and Prudential (29.7%),  with that of managers with a low offshore/high local equity exposure such as Stanlib (18.4%/50.6%), OM Balanced Growth (23.5%/49.8%) and IS Balanced Growth (19.7%/46.8%), the latter group should have and have outperformed the former group with the exception of Allan Gray that in fact produced the 3rd best performance of these 6 managers, trailing IS Balanced Growth and Stanlib just slightly.