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Allan Gray again hit the perfect score of five PlexCrowns in the September quarter, ranking as the leading South African investment house among those that qualified for overall rankings in the latest PlexCrown Survey.
According to Ryk de Klerk, director of PlexCrown Fund Ratings, the quarter saw significant changes in the rankings of South African investment houses as the roller-coaster quarter was characterised by wild swings in the equity market.
"The FTSE/JSE All Share Index was up by more than 11 percent in July, down by more than eight percent at some stage in August only to rally by 11 percent afterwards to close the quarter 12.2 percent up," says De Klerk.
Allan Gray dominated all the asset classes in which the house competed.
It was placed joint first in domestic equity, domestic fixed interest, domestic asset allocation, foreign equity and foreign and worldwide flexible.
"The company’s funds have all achieved the maximum rating of five PlexCrowns based on risk-adjusted returns of funds, which is truly remarkable," says De Klerk. The Allan Gray-Orbis Global Fund of Funds was the top-performing foreign asset allocation flexible fund.
Nedgroup Investments was again runner-up with an overall rating of 3.75 PlexCrowns. Its rating was underscored by jointly leading in domestic fixed interest and fifth spot in domestic equity. The investment house’s Financial Fund, Value Fund and Bond Fund all topped the charts in their respective categories.
Prudential was hot on Nedgroup Investments’ heels in third place overall with 3.71 PlexCrowns, with the company sharing top spots in foreign equity and domestic real estate.
Orbis, closely associated with Allan Gray, took the honours as top foreign investment house for its FSB-approved offshore funds. The company’s Optimal SA Fund (euro class) and SICAV Japan Equity Fund were leaders in their respective categories.