Q1 2025 review of our Aven Local funds

Buckle up, because this quarter has been a wild ride! Twists, turns, and a dash of market mayhem kept us on our toes. From local bonds playing peekaboo with fair value to equities flexing cautiously, here’s your recap of the first quarter:

📍 The Local Scene

Cash: Cool, collected, and still a solid bet—thanks to SARB keeping things steady with just one rate cut.

Bonds: High yields look tempting, but rising fiscal risks remind us not to dive in blindly.

Property: The rally was fun while it lasted, but now we’re back to fundamentals. Smart selections matters.

Equities: SA Inc. got a boost from GNU optimism, but caution is creeping in. Some prices seem inflated, and let’s not forget—the political landscape still has surprises in store.

🌍 The Global Scene

Cash: The Fed’s mixed signals are keeping us guessing. Dollar yields still look good, but inflation could shake things up.

Bonds: Inflation drama has made TIPS the cool kids again. Global bonds? Better than last year, but still not quite the belle of the ball.

Property: Stuck in limbo—high debt, slow-moving rates, and no clear direction.

Equities: US stocks stumbled (Trump tariffs? 👀), but strategic plays in Europe and EMs offer opportunity—plus, a sprinkle of AI hype never hurts.

🎯 Fund Highlights

Performance: Across our Cautious, Moderate, Moderate Aggressive, and Flexible portfolios, we saw everything from steady gains to standout performances.

🔥 The Moderate Aggressive Fund strutted in with a 15.43% return over three years

💡 Strategy in Action: Nimble, tactical moves kept us ahead—snatching market dips (hello, Nvidia and Amazon buys!) while keeping an eye on long-term value.

🧠 Smart Moves & Strategy

✅ Tactical allocation shifts: Trimming local equity after a hot streak.

✅ SA Bonds: We love them—but we’re playing it smart with shorter durations.

✅ Global positioning: Saying goodbye to underperformers, doubling down on quality picks.

Stay smart. Stay calm. And maybe stock up on popcorn—next quarter’s bound to be another rollercoaster! 🎢

If you wish to dive in deeper please read the Q1 update under Local Funds