JSE FCPD
FCPD
FCPD - Foord Compass Limited - Foord Compass Asset Allocation At 29 April 2008
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
JSE code: FCPD & ISIN: ZAE000054466
("Foord Compass" or "the company")
FOORD COMPASS ASSET ALLOCATION AT 29 APRIL 2008
At the annual general meeting of debenture holders held in Pinelands on Tuesday,
29 April 2008, the directors of Foord Compass announced the following asset
allocation information for the Foord Compass Limited portfolio (at effective
economic exposures):
Equities (net position) 50.2%
Listed property 5.2%
Interest bearing securities (net short position) -42.5%
Foreign assets 43.1%
Cash 44.0%
100.0%
Fund manager Dave Foord informed the meeting that the South African market was
currently in a bear phase. He said that while the JSE had probably not yet
bottomed out, the South African economy was more robust than international
economies. The net short bond position reflected the view that the interest rate
cycle had not yet turned. The foreign asset exposure, which had grown to 43% of
total assets, provided protection against further anticipated rand depreciation.
In 2008, the investment environment would be tougher than it was in previous
years but nevertheless there were a number of interesting opportunities apparent
on the JSE.
Cape Town
30 April 2008
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited
Date: 30/04/2008 14:30:01 Produced by the JSE SENS Department.
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