In November 2023, the average prudential balanced portfolio returned 5.9% (October 2023: -1.5%). The top performer is Namibia Coronation Balanced Plus Fund, with 8.0%, while Hangala Capital Absolute Balanced Fund, with 4.0%, takes the bottom spot. For the three months, Allan Gray Namibia Fund takes the top spot, outperforming the 'average' by roughly 0.4%. Namibia Coronation Balanced Plus Fund underperformed the 'average' by 0.8% on the other end of the scale. Note that these returns are before (gross of) asset management fees. (Refer to graphs 3.1.3 to 3.1.5 for a more insightful picture of the relative long-term performances of the portfolios and the asset classes.)

The Monthly Review of Portfolio Performance to 30 November 2023 also reflects the editor’s views on current developments and their impact on investment markets.

Navigating the shifting economic landscape

The undervaluation of the Rand introduces challenges and opportunities for Namibian and South African investors. The potential for capital repatriation, attractive yields in government bonds, and the tax efficiency of returns contribute to a complex investment landscape. Careful consideration of exchange rate dynamics, risk-reward profiles, and tax implications is paramount in making informed and strategic investment decisions. As the global economic landscape evolves, savvy investors in Southern Africa can leverage these insights to navigate uncertainties and position themselves for financial success.

In the Monthly Review of Portfolio Performance to 30 November 2023, we elaborate on the strategies an investor should follow under the above circumstances. It also reflects the editor’s views on current developments and their impact on investment markets.