Marriott Global Income comment - Sep 05 - Fund Manager Comment26 Oct 2005
Distribution
The September 2005 distribution amounted to 2.5618 cents per unit, a decrease of 0.65% from the previous quarter's distribution, and lower than the same period last year. The volatility in the distributions over the last 3 years is a function of the volatility in the domestic currency market. During this time, the fund has produced consistent hard currency income.
Future Income
There is unlikely to be a significant change in the hard currency income produced by the fund due to the low-risk and predictable nature of the underlying investments. However, any change in the value of the rand will result in fluctuations in the distribution.
Capital
There has been very little movement in the hard currency capital values of the underlying investments. However, in the recent past the capital value per unit has decreased as the rand has strengthened against the US dollar, the euro and sterling. Looking forward, the capital value of the fund will continue to be driven by the value of the Rand, with the low-risk underlying investments providing stable hard currency capital values.
Marriott Global Income comment - Jun 05 - Fund Manager Comment15 Aug 2005
Distribution
The June 2005 distribution amounted to 2.5786 cents per unit, a decrease of 1.7% from the previous quarter's distribution, and lower than the same period last year. The volatility in the distributions over the last 3 years is a function of the volatility in the domestic currency market. During this time, the fund has produced consistent hard currency income.
Future Income
There is unlikely to be a significant change in the hard currency income produced by the fund due to the low-risk and predictable nature of the underlying investments. However, any change in the value of the Rand will result in fluctuations in the distribution.
Capital
There has been very little movement in the hard currency capital values of the underlying investments. However, in the recent past the capital value per unit has decreased as the Rand has strengthened against the US dollar, the Euro and Sterling. Looking forward, the capital value of the fund will continue to be driven by the value of the Rand, with the low-risk underlying investments providing stable hard currency capital values.
Marriott Global Income comment - Mar 05 - Fund Manager Comment19 May 2005
Distribution
The March 2005 distribution amounted to 2.6219 cents per unit, a decrease of 5.6% from the previous quarter's distribution, and lower than the same period last year. The volatility in the distributions over the last 3 years is a function of the volatility in the domestic currency market. During this time, the fund has produced consistent hard currency income.
Future Income
There is unlikely to be a significant change in the hard currency income produced by the fund due to the low-risk and predictable nature of the underlying investments. However, any change in the value of the rand will result in fluctuations in the distribution.
Capital
There has been very little movement in the hard currency capital values of the underlying investments. However, in the recent past the capital value per unit has decreased as the rand has strengthened against the US dollar, the euro and sterling. Looking forward, the capital value of the fund will continue to be driven by the value of the rand, with the low-risk underlying investments providing stable hard currency capital values.
Marriott Global Income comment - Dec 04 - Fund Manager Comment16 Feb 2005
Distribution
The December 2004 distribution amounted to 2.7769 cents per unit, a decrease of 11% from the previous quarter's distribution, and lower than the comparable period last year. The volatility in the distributions over the last 3 years is a function of the volatility in the domestic currency market. During this time, the fund has produced consistent hard currency income.
Future Income
There is unlikely to be a significant change in the hard currency income produced by the fund due to the low-risk and predictable nature of the underlying investments. However, any change in the value of the rand will result in fluctuations in the distribution.
Capital
There has been very little movement in the hard currency capital values of the underlying investments. However, in the recent past the capital value per unit has decreased as the rand has strengthened against the US dollar, the euro and sterling. Looking forward, the capital value of the fund will continue to be driven by the value of the rand, with the low-risk underlying investments providing stable hard currency capital values.