Innofin Multi-Currency comment - May 05 - Fund Manager Comment25 Aug 2005
The fund posted a strong rand return, as a result of the sudden depreciation of the rand during May. The fund remains invested in the very short end of the yield curve on all USD currency deposits, while investing in the 3-month area of the yield curve for the Euro and GDP exposure. This fund provides investors with a perfect hedge against rand depreciation and access to a well diversified portfolio of developed market currencies.