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Portfolio Manager’s Report as at 31 December 2019

LUNAR BCI Worldwide Flexible Fund Investing is not easy because the market can behave in ways that is irrational in the eyes of investors or unexpected given investor sentiment and macro-economic trends. Our job as investors is thus to be able to sift through all the [...]

2020-01-13T05:21:06+00:00 January 13th, 2020|

Lunar BCI Worldwide Flexible Fund Three-Year Review

View PDFThree Years On July 10, 2019 On 1 June 2019, we celebrated three years since the launch of the Lunar BCI Worldwide Flexible Fund. We are very pleased with the support that we have received from our clients, business partners and our management and staff. Our [...]

2019-07-10T11:09:34+00:00 July 10th, 2019|

Who are you going to vote for?

Elections Everywhere Nigeria, Namibia, Indonesia, India, Spain, South Africa, …. Elections Everywhere. It seems like 2019 is the year of elections. As citizens, we are all interested and invested (in the broadest sense of the word) in the outcome of the election in South Africa, and maybe [...]

2019-04-30T13:52:22+00:00 April 30th, 2019|

Share Focus: Microsoft (MSFT.NAS)

“Our strong commercial cloud results reflect our deep and growing partnerships with leading companies in every industry including retail, financial services, and healthcare,” said Satya Nadella, CEO of Microsoft. "We are delivering differentiated value across the cloud and edge as we work to earn customer trust [...]

2019-02-08T13:14:04+00:00 February 8th, 2019|

Time for a Rest

Listen to the podcast Transcript In a few days, many people will be taking some time off from work for their annual vacation. That is of course if they are fortunate enough to have a job. So, when I was [...]

2018-12-11T14:04:50+00:00 December 11th, 2018|

Good Markets, Bad Markets

Market Overview The market has been on a roller coaster ride over the last 3 months, showing good gains in August, but having a significant pull-back in September and October, both locally and offshore. The markets are largely driven by high valuations in the US; rising [...]

2021-12-07T07:26:42+00:00 November 15th, 2018|

Active vs Passive

Market Overview A struggling local economy, flight of capital from emerging markets to developed markets, a volatile Rand and generally low or negative growth in company earnings have been the main drivers of the poor performance in the South African equity market. The Rand has weakened significantly [...]

2018-10-11T14:04:14+00:00 October 11th, 2018|


View in PDF Market Overview The current market is characterised by political uncertainty and multiple global economic issues. The main issues affecting the South African market are Rand volatility, emerging market woes and political and policy uncertainty. The Rand has weakened significantly against the major currencies [...]

2018-09-19T07:40:59+00:00 September 18th, 2018|

What to do about the Rand?

Introduction This blog discusses the reasons for the volatility in the Rand and what the ordinary person can do to protect herself from the impact of a weakening Rand. Why has the Rand been so volatile? The South African Rand has experienced much volatility over the [...]

2018-08-27T11:52:17+00:00 August 27th, 2018|

Trade Wars

What is a Trade War? “A trade war is a side effect of protectionism that occurs when one country (Country A) raises tariffs on another country’s (Country B) imports in retaliation for Country B raising tariffs on Country A's imports. A tariff is a tax imposed on [...]

2018-07-19T11:11:50+00:00 July 19th, 2018|