GTC Trendline – March 2013
Equity market jitters but ALSI delivers positive return
The month of March revealed the fragility of the local equity market as investors faced continued pressure in holding equities. Although the industrial sector regained earlier losses, the sentiment changed mid-month, whereupon retail stock holders, in particular, decided to offload these into the marketplace. At the same time, South Africans saw the Rand weaken against all major currencies.
GTC fund performances
The GTC Fixed Income Fund has produced returns in excess of cash over all annualised periods. Despite the low cash rate environment, the manager has used various yield enhancing strategies such as credit and duration to improve the fund performance. Although interest rates are unlikely to increase this year, the next move is likely to be higher, which will enhance the overall return for investors looking for capital protection.
