In September our average prudential balanced portfolio returned 1.13% (August 2.30%). Top performer is Namibia Asset Management/Coronation (1.56%); Sanlam (0.37%) takes bottom spot.

For investors the question one needs to find an answer to is how the current financial crisis and the stimulus measures will pan out? Stimulus measures will remain in place until such time as developed economies start picking up steam again and this will not be soon. Until then consumer sentiment in the developed world will remain low. Demand for our resources in the developing world, including our natural heritage, will thus remain depressed for some time to come. The economic growth government had bargained on, and which is necessary to contain our debt and sustain its servicing, will not be as rosy as hoped for. Austerity measures will not be avoidable even for us in Namibia, and is likely to become a necessity as from 2013 onwards, to last for a while.