Fund Name Changed - Official Announcement19 Nov 2012
The BlueAlpha All Seasons Fund will change it's name to BlueAlpha MET All Seasons Fund, effective from 19 November 2012
BlueAlpha All Seasons Fund - Sep 12 - Fund Manager Comment31 Oct 2012
The portfolio returned 5.6% for the quarter versus 7.3% for the All Share index. The best performing shares were RMI Holdings, Metair Ltd and Old Mutual. Very few changes to the portfolio were made with Netcare Ltd added to in the period. Our largest holding, RMI Holdings, which has holdings in Outsurance, MMI Holdings and Discovery Holdings, reported very good operational performance for the year to 30 June 2012 and rewarded shareholders with an ordinary and special dividend. We continue to shy away from mining stocks and continue to hold a large exposure to the insurance and assurance sector.
BlueAlpha All Seasons Fund - Mar 12 - Fund Manager Comment28 Jun 2012
The portfolio returned a positive 2.3% while the All Share index returned -1.4%. For Q1 the All Seasons return was 13% while the All Share Index return was 6%. This was the result of excellent operating results from our portfolio companies while global fears influenced the index performance.
Our portfolio included 10 of the top 25 performing shares for the Q1 with the best returns coming from RMI (our largest holding), Super Group and Imperial.
Whilst we are confident about the outlook for our portfolio companies, we shall stay vigilant during Q2 and manage our net exposure accordingly.
BlueAlpha All Seasons Fund - Dec 11 - Fund Manager Comment17 Feb 2012
The fund returned 9.6% for the year against an ALSI return of 2.6%. This outcome is very satisfying given the capital flight to safety and the continuing uncertainty surrounding the Euro Zone sovereign debt crisis. In addition, the fund achieved the best performance over 5 years in the flexible fund category.
The fund's net equity exposure at year-end is 92% but the portfolio composition continues to be defensive. The investment case for most of our top 10 holdings is based on high dividend payouts and certainty around the revenues of those underlying businesses.
The year ahead - whist I prefer not to make macro economic forecasts it seems certain that inflation will be higher and that interest rates will remain low for the current year. High labour cost will contribute to hamper job creation in the industrial sector, which is essential for economic growth.