NEWS

Biannual Newsletters

The goal of these newsletters is to inform clients of possible changes in the economy, income tax laws, rules with regards to estate duty, wills or possible changes on our investment philosophy.

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Newsletter - December 2025

We have reached the end of 2025 — another year filled with meaningful events. February 2025 brought considerable uncertainty when the United States imposed import tariffs on the rest of the world. In our June 2025 newsletter, we explained to clients that we would not make any adjustments to our portfolios at that stage based on this development. Our investment policy therefore remained unchanged, and once again our funds performed exceptionally well.

Later in this newsletter, we will provide feedback and explanations regarding the performance of the funds, as well as the adjustments made to the model portfolios. We will also offer insight into the positive market performance experienced over the past six to eight months.

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Newsletter - June 2025

Because of the global turmoil — with conflicts in Israel, Iran, and Ukraine, as well as the potential involvement of world powers such as the USA, Russia, and China — it is important to focus on the aspects of the economy over which we do have certainty.

RSA Broker has been advising clients since 1983 and has experienced much in the financial industry, both good and bad. Along with that, they have built up experience in how to handle certain situations. Later in the newsletter, we will provide an indication of how the South African and global economies are currently performing and how we are managing our funds. We will also look at how specific strategies have compared over recent periods, giving you an idea of how this experience comes into play. We trust that this will provide you with peace of mind in the uncertain times we find ourselves in.

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