“We continue to believe that the best long-term opportunities for our clients currently lie within the global allocation of the funds. When SA Inc. rallied towards the end of last year, we did not participate in the rally to the extent that the rest of the market did, due to our low allocation towards SA Inc. This resulted in the funds underperforming over the past year. However, the growth coming through from the global allocation of the funds should start to pay off during 2018.”

Read the full article here: Q1 2018 Newsletter