Newsletter:

Subject:	March Market View
Date:	06 Mar 08

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Barry Shamley posted his monthly market view at the beginning of this week. In it he writes that current economic fundamentals do not paint a pretty picture.

'There is a possibility that emerging markets will pull the global economy through this difficult period', he writes, 'but we will err on the side of caution and will reinvest only on pullbacks'.

To read more, click on the following link:

http://equinox.co.za/default.asp?marketview

Read Jeremy Gardiner's comparison between investment cycles and the seasons of the year, and about the appointment of the new Chairman of the Association of Collective Investments.

Want to find out why Old Mutual's Michael Schroder suggests that a fund mandated to invest in companies with high dividends might be offering value in the current environment? Or which companies Neil Brown and Richard Hasson have been buying for the Old Mutual Top Companies Fund since the market volatility has eased? Read the articles below.

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It’s winter again, and we are discontent
Jeremy Gardiner writes that it’s still summer in Cape Town, but now that we are into March, there is definitely a slight seasonal change underway, which will finally manifest itself in cold and rain by June. Miserable weather will then follow for five months, and then just as you have finally given up hope that decent weather will ever return, spring arrives followed by another six months of sun.

More at http://www.equinox.co.za/article_1922.html

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Positioned defensively before the volatility: The Old Mutual Top Companies Fund
Neil Brown and Richard Hasson are joint fund managers of the Old Mutual Top Companies Fund, as well as joint managers of an investment unit within Old Mutual Investments Group South Africa called Select Equity Investments. The Top Companies Fund has assets under management of R928 million and is classified as a domestic general equity fund.

More at http://www.equinox.co.za/article_1920.html

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New chairman of the Association of Collective Investments appointed
A press release from the ACI has announced the appointment of Anthony Katakuzinos as the new chairman of the association. His appointment follows the resignation of Pieter Koekemoer of Coronation Asset Managers after his two year term of office.

More at http://www.equinox.co.za/article_1921.html

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Is it the right time to invest in a high dividend unit trust fund? Yes says Old Mutual.
According to Old Mutual, with market levels having come off recently, many shares are back in value territory.

More at http://www.equinox.co.za/article_1917.html

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From post office to investment boutiques: Stanlib and OMIGSA a year on
Just over eighteen months ago, two of South Africa's largest asset management companies, Old Mutual Asset Management (now called Old Mutual Investments Group South Africa) and Stanlib, started the process of dividing their asset management teams into smaller groups. The idea was that greater investment freedom and individual responsibility for fund managers would contribute to improved investment performance.

More at http://www.equinox.co.za/article_1916.html

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Best Regards
The Equinox Team

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