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February 2020

Dear Fintax Investor, Please find attached the latest month’s Fintax Fund Fact Sheets. Last month, the Fintax Funds declined -6.8% (Balanced) and -8.9% (Growth), relative to -9.5% for global...

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Mirroring Reality

How do you protect your wealth when a country goes belly-up? Fortunately, we have a case study in Zimbabwe to help answer that question. Old Mutual is listed in South Africa (JSE), London (LSE) and...

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Hungry Hippo

The recent adjustment budget highlighted the widening of the ‘’jaws’’ between the country’s expected expenditure and expected revenue. Two scenarios were tabled. One in which South Africa takes a...

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January 2020

Dear Fintax Investor, After a strong performing 2019, in January 2020 the Fintax Funds declined by 0.5% (Growth) and 0.2% (Balanced) relative to +0.4% for the MSCI ACWI and +0.8% for the ICE BofA...

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The Survivors

Commentary: The Survivors The above image tracks the bullet holes on Allied planes that encountered Nazi anti-aircraft fire in World War II. When the Allied military brass saw this picture, they...

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Q4 2019 Commentary

Dear Fintax Investor, Please find below the link to the Q4 2019 Fintax Funds manager commentary, provided by the MGIM advisory team.  ...

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The Rather Fat Finger Error

A fat finger-error is a term used to describe a keyboard input error on the stock market, typically resulting in a buy or sell order being placed at a far greater size or price than intended. Last...

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December 2019

Dear Fintax Investor, For the month of December 2019, the Fintax Funds delivered 4.2% (Growth) and 3.6% (Balanced), respectively. For the 2019 calendar year, the Funds have delivered 22.2% and...

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November 2019

Dear Fintax Investor, For the month of November 2019, the Fintax Funds delivered 2.1% (Growth) and 1.8% (Balanced), respectively. Year-to-date, the Funds have delivered 17.2% and 15.5%, relative to...

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Mona Lisa Smile – The Pursuit of Perfection

A celebrity make-up artist recently made the following comment when interviewed by the New Yorker Magazine: ‘’It’s Instagram Face, duh. It’s like an unrealistic sculpture. Volume on volume. A...

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October 2019

Dear Fintax Investor, Last month, the Fintax Funds delivered +2.6% (Growth) and +2.0% (Balanced), relative to +2.7% for the MSCI All Countries World Index (ACWI) and -0.1% for the ICE BofAML Global...

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In the Eye of the Beholder

Bullseye! Tencent, the giant Chinese internet technology company partly owned by Naspers (Prosus) recently announced their plan to seamlessly embed video ads directly into movies. To get a clearer...

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