GTC Trendline – June 2013
Markets react to SA’s weak outlook A slew of economic data released in June 2013 showed South Africa as moving deeper into economic weakness following a slower than expected growth outlook while imports have continued to exceed exports. The trade deficit account has remained in negative territory for the past 17 months and the year to date deficit stands at R68.7bn, compared to the R46.2bn deficit for the first five months in 2012. Read the full article GTC fund performances The GTC Fixed Income Fund has continued to deliver strong returns relative to cash and managed to outperform the short end of the bond market. The manager has increased duration in the fund to benefit from the improving yields, which have contributed to performance. The manager has also increased exposure to credit instruments which offer higher yields than the... Read More
