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STANLIB Offshore Swiss Franc Fund - News
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Standard Bank Swiss Franc comment - Dec 04
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Thursday, 17 March 2005
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Fund Manager Comment
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The Fund commenced the period with the portfolio's Weighted Average Maturity (WAM) positioned at 39 days. During the quarter, we took the opportunity to lengthen the WAM out to 50 days through the purchase of three month paper. This strategy was implemented to take advantage of a positively shaped yield curve, pricing in further interest rate rises by the BoC. At the end of December, the fund's WAMstood at 35 days.
Going forward we will maintain our strategy of targeting the 3 month part of the the curve.
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