Gryphon Money Market comment - May 2003 - Fund Manager Comment18 Jun 2003
In the light of the expected rolling over of economic growth and inflation momentum in South Africa, as well as the significant improvement of the Rand, the SARB is expected to start cutting interest rates during June 2003. We have therefor increased the duration of the fund to protect it against the expected falling interest rates as best as possible. We continue to actively avoid higher risk investments and invest only with A1 rated counter parties.
Gryphon Money Market comment - April 2003 - Fund Manager Comment30 May 2003
In the light of the expected rolling over of economic growth and inflation momentum in South Africa, as well as the significant improvement of the Rand, the SARB is expected to start cutting interest rates by June 2003. We has therefor now start using opportunities to increase the duration of the fund and protect it against the expected falling interest rates as long as possible. We continue to actively avoid higher risk investments and invest only with A1 rated counter parties.
Gryphon Money Market comment - March 2003 - Fund Manager Comment08 Apr 2003
In the light of the expected rolling over of economic growth and inflation momentum in South Africa, as well as the significant improvement of the Rand lately, the SARB is expected to start cutting interest rates by the second quarter of 2003. We however do not expect short rates to ease before a turnaround in inflation is not confirmed. The Gryphon Imperial Money Market fund therefore continues to be invested shorter than benchmark duration. We continue to actively avoid higher risk investments and invest only with A1 rated counter parties.