The portfolio continues to have dominant exposure to US and European listed corporate bonds. The currency exposure currently stands at approximately 77.56% US dollars and 15.80% euro, with the remainder in UK pounds sterling and rand. The September distribution amounted to 3.3113 cents per unit. The volatility in distribution levels within the fund over the last five years has been a function of the volatility in the domestic currency market, however, during this time the fund has produced consistent First World currency income. There is unlikely to be a significant change in the income produced by the fund due to the low risk and predictable nature of the underlying investments. Conversely, any changes in the value of the rand will result in income fluctuations.

The portfolio continues to have dominant exposure to US and European listed corporate bonds as well as US dollar cash deposits. The currency exposure currently stands at approximately 72.35% US dollars and 19.63% euro, with the remainder in UK pounds sterling and rand. The June distribution amounted to 3.6632 cents per unit. The volatility in distribution levels within the fund over the last five years has been a function of the volatility in the domestic currency market, however, during this time the fund has produced consistent First World currency income. There is unlikely to be a significant change in the income produced by the fund due to the low risk and predictable nature of the underlying investments. Conversely, any changes in the value of the rand will result in income fluctuations.

The portfolio continues to have dominant exposure to US and European listed bonds as well as US dollar cash deposits. The currency exposure currently stands at approximately 64% US dollars and 25% euro, with the remainder in UK pounds sterling and rand. The March distribution amounted to 4.4146 cents per unit. The volatility in distribution levels within the fund over the last five years has been a function of the volatility in the domestic currency market, however, during this time the fund has produced consistent First World currency income. There is unlikely to be a significant change in the income produced by the fund due to the low risk and predictable nature of the underlying investments. Conversely, any changes in the value of the rand will result in income fluctuations.

The portfolio continues to have a dominant exposure to US and European listed bonds and US dollar cash deposits. The currency exposure currently stands at approximately 69% US dollars and 26% euro, with the remainder in UK pounds sterling and rand. The September distribution amounted to 4.7644 cents per unit. The volatility in the distributions over the last five years is a function of the volatility in the domestic currency market. During this time, the fund has produced consistent First World currency income. There is unlikely to be a significant change in the income produced by the fund due to the low risk and predictable nature of the underlying investments. However, any changes in the value of the rand will result in fluctuations in the distributions.