Robert Cowen Investments was started in 1982 by Robert Cowen in order to manage private client assets, and is now positioned as a niche investment house, specializing in family wealth management. Robert Cowen Investments prides itself on being able to provide a comprehensive investment, administration and accounting service with a great deal of emphasis on personal service.
RCI BCI Flexible Fund closed February at 351.61c, up 4.41%. The rand weakened by 6% but we have now eliminated offshore shares from this portfolio towards the end of the month as you can invest directly into our offshore unit trust RCI BCI World Wide Flexible Fund. It is now back where it was about a year ago, better than the JSE over the same period.
RCI BCI Worldwide Flex closed February at 114.39c up 7.11% for the month. The rand fell by 6%, boosting the performance, as we had expected last month. This was one of the best performing unit trusts of the month. It is now up 14.4% compared with a year ago!
The primary areas for investment were equities, bonds and cash in the South African markets. Our focus was to invest in shares listed on the Johannesburg Stock Exchange unless clients had a need for income. Equities have been the only asset class to outperform inflation on a long-term basis.
Individuals have been allowed to send ever increasing capital sums offshore in the form of exchange control allowances, and portfolio managers have been able to send 30% of assets under management offshore in the form of asset swaps. This has enabled the South African investing public to participate not only in South African investments but also in investments of a global nature.
Depending on the individual’s circumstances, we recommend that an appropriate amount be transferred offshore and that the client keeps what is required locally to fund the individual’s chosen lifestyle, subject to exchange control regulations in force.