Fund Views

The first six months of 2018 have been a whirlwind. In South Africa, the leadership of the ruling party and the country changed hands, going from Jacob Zuma to Cyril Ramaphosa. While this change was welcomed by the political and investment community, with markets reacting favourably, Ramaphosa’s actions in his first year of presidency will carry much weight going forward. Globally, bull markets can’t last forever - we look at what could go wrong.

Despite the tough environment, our Balanced Funds range and Target Retirement Funds range have proved successful over the last six months as well as the long-term, outperforming their benchmarks.

• Economic and market update as at end June 2018 - by Nazmeera Moola, Co-Head of SA and Africa Fixed Income at Investec Asset Management
• We’re on the wrong bus  - by Steve Watson, Investment Marketing Director for Africa at Investec Asset Management
• Discovery Balanced Fund range - by Fund manager, Chris Freund of Investec Asset Management
• Discovery Target Date Retirement Funds - by Fund manager, Rudigër Naumann of Investec Asset Management
• Discovery Equity Fund range - by Fund manager, Terry Seaward of Investec Asset Management

While equity markets have been turbulent, so too have the other asset classes such as cash and property. Our fund managers highlight what has worked for their funds in the first half of 2018:

• Discovery Diversified Income Fund - by Fund manager, Malcolm Charles of Investec Asset Management
• Discovery Flexible Property Fund - by Fund manager, Peter Clark of Investec Asset Management
• Discovery Global Value Equity Feeder Fund - by Fund manager, Alessandro Dicorrado of Investec Asset Management
• Worldwide Best Ideas Fund  - by Fund manager, Chris Freund of Investec Asset Management