In October 2025, the average prudential balanced portfolio returned 2.4% (September 2025: 2.7%). The top performer is the Stanlib Namibia Managed Fund 3.1%. The Allan Gray Namibia Balanced Fund, with 1.8%, takes the bottom spot. Ninety One Namibia Managed Fund takes the top spot for the three months, outperforming the ‘average’ by roughly 0.8%. The Lebela Balanced Fund underperformed the ‘average’ by 0.9% 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 31 October 2025 reviews portfolio performances and provides insightful portfolio analyses. 

Where Local Investors Find Value

Investors continue to navigate a highly polarised global equity environment where valuations vary dramatically across regions. Investors continue to navigate a highly polarised global equity environment where valuations vary dramatically across regions. An updated analysis of trailing price-to-earnings (P/E) ratios as at October 2025 (or nearest available) reveals significant disparities between major markets — the S&P 500 (USA), JSE (South Africa), DAX (Germany), and Nikkei 225 (Japan).

Read paragraph 6 of the Monthly Review of Portfolio Performance to 31 October 2025 for an interesting perspective on global equity sectors.