The Absa Inflation Beater Fund returned 0.7% for the month, in line with its objective of steady returns in excess of inflation over time. For the 3 years to 31 March 2007, the Fund's investors earned 6.4%, exceeding the most recent inflation figure of 6.1%. The South African share market enjoyed a good month, while the bond market recorded a loss. The Rand weakened against the US dollar from 7.24 to 7.27 during the month. Against Sterling the Rand weakened from 14.21 to 14.34 over the month, and against the Euro from 9.56 to 9.69.

The major drivers of the stock market over the next few months will be the size and frequency of interest rate hikes by the SA Reserve Bank, as well as the movement in the Rand exchange rate and prices for South African major commodity exports.

The Fund has invested in a foreign currency asset in order to provide some protection from any currency weakness.

The Absa Inflation Beater Fund is defensively positioned so as to minimize the risk of capital loss, while targeting a return in excess of inflation.

The Absa Inflation Beater Fund returned 0.7% for the month, in line with its objective of steady returns in excess of inflation over time. For the 3 years to 31 March 2007, the Fund's investors earned 6.4%, exceeding the most recent inflation figure of 6.1%.The South African share market enjoyed a good month, while the bond market recorded a loss. The Rand weakened against the US dollar from 7.24 to 7.27 during the month. Against Sterling the Rand weakened from 14.21 to 14.34 over the month, and against the Euro from 9.56 to 9.69.

The major drivers of the stock market over the next few months will be the size and frequency of interest rate hikes by the SA Reserve Bank, as well as the movement in the Rand exchange rate and prices for South African major commodity exports.

The Fund has invested in a foreign currency asset in order to provide some protection from any currency weakness.

The Absa Inflation Beater Fund is defensively positioned so as to minimize the risk of capital loss, while targeting a return in excess of inflation.

The Absa Inflation Beater Fund returned 0,8% for the month, in line with its objective of steady returns in excess of inflation over time. For the 12 months to 31 December 2006, the Fund's investors earned 8,6%, exceeding the most recent headline inflation figure of 5,4% and also the money market return of 7,3%. The South African share market enjoyed a good month, as did the bond market, notwithstanding expectations of further rises in short term interest rates. The Rand continued its recovery against the US dollar, strengthening from 7,16 to 6,97 to the US dollar during the month. Against Sterling the Rand improved from 14,09 to 13,66 over the month.

The major drivers of the stock market over the next few months will be the size and frequency of interest rate hikes by the SA Reserve Bank, as well as the movement in the Rand exchange rate and prices for South African major commodity exports.

The Fund has invested in a foreign currency asset in order to provide some protection from any currency weakness.

The Absa Inflation Beater Fund is defensively positioned so as to minimize the risk of capital loss, while targeting a return in excess of inflation.

The Absa Inflation Beater Fund returned 0,8% for the month, in line with its objective of steady returns in excess of inflation over time. For the 12 months to 31 December 2006, the Fund's investors earned 8,6%, exceeding the most recent headline inflation figure of 5,4% and also the money market return of 7,3%. The South African share market enjoyed a good month, as did the bond market, notwithstanding expectations of further rises in short term interest rates. The Rand continued its recovery against the US dollar, strengthening from 7,16 to 6,97 to the US dollar during the month. Against Sterling the Rand improved from 14,09 to 13,66 over the month.

The major drivers of the stock market over the next few months will be the size and frequency of interest rate hikes by the SA Reserve Bank, as well as the movement in the Rand exchange rate and prices for South African major commodity exports.

The Fund has invested in a foreign currency asset in order to provide some protection from any currency weakness.

The Absa Inflation Beater Fund is defensively positioned so as to minimize the risk of capital loss, while targeting a return in excess of inflation.