June 12, 2014

Global Global equity markets continued their upward trend with the MSCI World posting 1.7 %(USD) mainly on the back of strong US(2.1% USD) and Japanese(5.2% USD) gains with Europe flat(-0.1% USD). EM markets also benefitted from the risk on environment, posting 2.0% (USD) while global fixed income markets returned 0.4%(USD) in June. In the U.S.A. the Bureau of Economic Analysis announced a final negative 2.9% decline in GDP for the first quarter of 2014 which came as a shock following the positive 2.6% growth in GDP the previous quarter. Read the full article GTC Fund Performances The GTC High Equity Funds (previously Aggressive) continues to deliver outperformance relative to the inflation adjusted target. Over the past 12 months, the main contributors to performance have been the equity market and offshore allocation. 2014 has seen a reversal of last year’s trend... Read More