Newsletter:

Subject:	Muted response to bail-out approval
Date:	06 Oct 08

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International press in the form of the FT Weekend edition reported a ‘muted market response’ to bail-out approval late on Friday evening. The S&P 500 which rose 3.6% ahead of the vote dropped just over 1% as the results of the vote were released, according to the Financial Times.

CNN reported that after details of the rescue package was released, Barney Frank, chairman of the House financial services committee said that Congress would embark on a wide-ranging revamp of regulations governing Wall St.

And as the contagion spread to Europe, the governments of Belgium, the Netherlands and Luxembourg rescued Fortis Bank, Bradford and Bingley of the UK was nationalized, the Irish and Greek governments guaranteed deposits in banks in their respective countries. But there are still doubts in the ability of the Europeans to mount a coordinated response.

Investors in our Equinox Managed Portfolios must be counting their blessings as manager Barry Shamley has been in cash since the beginning of the market volatility. In recent weeks he has started buying into a value fund so as not to miss out on good equity opportunities. To read Barry’s latest market view, please click here: Current Market View

Amidst all the market turmoil, EFS Investment Solutions has announced important operational news. We have signed 'in principle agreements' with the curators of the Ovation Companies which provide for EFS Investment Solutions being awarded the right to administer funds previously administered by Ovation. You can read more about this in the article below.

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Investec: Three catalysts should see equities beat cash in 2009
Chris Freund, portfolio manager at Investec Asset Management, reflects on the long-term outlook for equities in the wake of the ongoing global credit and liquidity crisis

More at http://www.equinox.co.za/article_2051.html

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EFS Investment Solutions (Pty) Ltd announces 'in principle agreement' with Ovation curators
Linked Investment Service Provider EFS Investment Solutions has announced that 'in principle agreements' with the curators of the Ovation Companies, John Levin and Barend Peterson to award the right to administer the funds previously administered by Ovation to EFS Investment Solutions are underway.

More at http://www.equinox.co.za/article_2049.html

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Best Regards
The Equinox Team

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