No asset class is tops every year

You will see from the 'Smartie Box' below that no asset class performs at the top every year.

No asset class is tops every year (annual performance to end june)
June 1999	June 2000	June 2001	June 2002	June 2003	June 2004	June 2005	June 2006	June 2007
SA Real Estate 26.7%	Foreign Equity 28.9%	SA Real Estate 31.8%	SA Equity 10.5%	SA Real Estate 30.1%	SA Equity 29.4%	SA Real Estate 52.8%	SA Equity 43.2%	SA Real Estate 43.0%
SA Cash 18.4%	SA Real Estate 25.2%	SA Bonds 29.6%	Foreign Equity 10%	SA Bonds 23.6%	SA Real Estate 15.9%	SA Equity 45.9%	Foreign Equity 23.7%	SA Equity 39.1%
SA Bonds 16.8%	SA Bonds 19.2%	Diversified 16.2%	SA Cash 9.8%	SA Cash 12.8%	Diversified 12.1%	Diversified 28.2%	SA Real Estate 23.5%	Diversified 24.3%
Foreign Equity 16.0%	Diversified 17.9%	SA Equity 12.5%	Diversified 8.9%	SA CPI 6.7%	SA Cash 9.2%	SA Bonds 19.0%	Diversified 20.2%	Foreign Equity 23.8%
Diversified 15.5%	SA Cash 11.6%	SA Cash 10.4%	SA CPI 8.0%	Diversified 6.2%	SA Bonds 5.1%	Foreign Equity 16.0%	SA Cash 6.8%	SA Cash 8.3%
SA CPI 7.3%	SA CPI 5.1%	SA CPI 6.4%	SA Real Estate 7.4%	SA Equity -8.1%	SA CPI 1.2%	SA Cash 7.3%	SA CPI 4.9%	SA Bonds 7.5%
SA Equity -0.2%	SA Equity 4.7%	Foreign Equity -3.1%	SA Bonds 6.8%	Foreign Equity -27.5%	Foreign Equity 1.1%	SA CPI 2.8%	SA Bonds 3.9%	SA CPI 6.1%
Diversified portfolio: Equal weighting in cash, bonds, property, equities and global equities.

Silke Financial Services offers advice on all funds, catering for all sectors of the market, where the portfolio manager can switch between asset classes to where value can be found. For example, when the SA Rand gets stronger, as is the case against the US Dollar at present, the fund manager will look at rand hedge stocks or buying shares offshore.

An important note about prudent investing: when investing one should adhere to the principle of time-diversification. This implies that a larger portion of the portfolio should be devoted to risky assets as the investment horizon increases.

Have a good week.

Editor: Shane Thom, Silke Financial Services
E-mail: shane@silke.co.za
Tel: +27 21 683 3380 · Fax: +27 21 683 3872
www.silkefinancialservices.com · X · LinkedIn · Facebook

FSP No. 12462 · An Authorised Financial Services Provider