The quarterly publication of
PSG Asset Management which contains regular communications from our fund managers and about our funds.
In this publication we communicate to our investors those thoughts and ideas we believe are important and valuable.
There is no such thing as a steady straight-line return. Markets have a way of lulling investors into believing that there is safety in the crowd, and that a steadily rising equity market is an endless possibility. Reality tells us that a consistently steadily growing market, especially measured over the shorter term, is a fantasy. ....
Market volatility: the background, it's impact and our outlook
The third quarter of 2015 saw a pull-back in emerging markets and South Africa was not unscathed. In the article below, we share our investment team's views about the changes in the market. Most importantly, we get their insights on how they have responded, the way forward and how they are positioning the PSG Asset Management funds to protect your wealth and take advantage of current market dynamics.
Why 'management' is a critical building block of our approach (in more ways than one)
We are determined to continue creating and embedding the building blocks required to generate exceptional (and market beating) long-term returns for our investors. We know that getting this right over the time will make a significant difference to our clients' investment outcomes and their lives. To this end, we have often written about the 3 Ms, the building blocks on which we have founded our investment process: Moat, management and margin of safety.
True colours: Are bond markets starting to show their true nature of stability?
The storm clouds of price volatility have gathered ominously over the last year. After a sustained period of markets broadly trending due to a continued period of central bank support, we have seen a significant rise in market volatility. The continuation of the commodity downturn and fears of lower growth in China have had a significant effect on emerging market equities in general and have resulted in substantial movements in currency markets. ....
Our global funds offering the benefits of long-term growth and diversification
Our global funds give investors access to some of the best listed companies across the world. They provide investors with both the prospects of long-term growth as well as the benefits of having diversified exposure to different geographies, regions, sectors and companies.
Portfolio Holdings as at 30 September 2015
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Performance to 30 September 2015
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Unit trust summary
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PSG Angles and Perspectives: Q3 2015 (pdf)
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Archive of previous editions
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