In the first quarter South African economic growth surprised on the upside whilst inflation surprised on the downside. These are very positive factors for equities and the outlook for 2012 is positive. Nevertheless we may be entering a period where optimism supersedes common sense in investors minds. The quote - "Be fearful when others are greedy, and greedy when others are fearful." - rings in our minds and we will be cautious in this period, managing your money as if it were our own.
In the first quarter of 2012 the performance of all our composites and the Centaur Flexible Fund materially outperformed their benchmarks thus continuing our exceptional performance track record.
Centaur Quantitative research has distilled key indicators which determine how best to allocate investments between competing asset classes This is another example of how Centaur's independent approach is assisting our clients in creating long term wealth.
Centaur started as a portfolio manager for individuals and this remains our largest business segment. Due to the individualised nature of the portfolio management
The Centaur Flexible Fund returned 9% for the quarter outperforming tis benchmark by 3%. It has returned over 19% per annum since inception over 7 years ago, being in the top 10% performing unit trust over that time.
