The fund switched Management Company from MET Collective Investments Ltd. to Boutique Collective Investments (Pty) Ltd. on 01 Jul 2014

The Southern Charter MET Growth Fund of Funds will change it's name to Southern Charter BCI Growth Fund of Funds, effective from 01 July 2014

Risk-taking shifted up noticeably in March, mostly in the emerging market space by renewed interest in South African assets by foreigners, helping SA equities, the rand and bonds. The ALSI continued its recovery, ending the month 1.83% higher, with financial shares performing the best, returning 6.3%. The ALBI returned 1.79% in March as bond yields in South Africa fell for a second month in a row. The South African Reserve Bank decided to keep short term rates unchanged following the MPC meeting. Despite rising producer and consumer inflation gauges, the rand strength is providing the reserve bank with some breathing space, amid weak economic indicators. SARB has now moved from its accommodative stance to a cycle of tightening, mentioning at the MPC meeting that we are in a rising interest rate environment. At the same time the SARB has indicated that given the weak growth, hiking will be moderate. The R186 13-year bond is now trading where it was last June at 8.37%. The All Bond Index is now +1% for 2014 versus being -3% at end January. On a global front, developed markets ended the month 0.2% higher amidst the tension in Europe involving Ukraine, as positive data confirmed the continued recovery in the US economy.