In February 2022, the average prudential balanced portfolio returned 1.2% (January 2021: -1.3%). The top performer is Hangala Prescient Absolute Balanced Fund with 2.4%, while Old Mutual Pinnacle Profile Gowth Fund with 0.5% takes the bottom spot. For the 3-months Hangala Prescient Absolute Balanced Fund takes the top spot, outperforming the ‘average’ by roughly 3.1%. NAM Coronation Balanced Plus Fund underperformed the ‘average’ by 1.4% on the other end of the scale. Note that these returns are before (gross of) asset management fees.

The Monthly Review of Portfolio Performance to 28 February 2022 provides a full review of portfolio performances and other insightful analyses.

Will China side with Russia, and what could be the implications?

In a recent interview with Ed D’Agostino of Mauldin Economics on the Russia/Ukraine conflict and the current political climate for investors and the world, George Friedman, chief executive officer of Geopolitical Futures, made some interesting comments of which somewhat cynical in my opinion. He believes that President Putin’s objective is to move the Russian Federation’s borders back to those of the old Soviet Union and that the invasion of Ukraine was a vital and logical move to restore Russia’s national security. It makes a great deal of sense says Friedman, but it threatens western security. He points out that everyone, including President Putin and himself, underestimated the power of the American economy and the Dollar as global trade takes place in Dollars. Anyone without access to Dollars cannot trade internationally.

He points out that the talk about a multipolar world is an illusion. The US economy towers over all other economies, and it is still a unipolar world. He points out that it is not a high priority to save President Putin’s face to the US. He believes President Putin gambled and lost, and it is more important to demonstrate to the world what it means to challenge the US. The US cannot give President Putin what he wants and has to force him backward. It will achieve this using economic measures instead of any military intervention. Whichever force the west applies will cause some form of pain, in this case, economic pain, but that is better than seeing soldiers dying.

The Monthly Review of Portfolio Performance to 28 February 2022 provides a full review of portfolio performances and other insightful analyses.