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At current market valuations it is unlikely we will see above-average returns and there is a distinct possibility of some negative returns at current price levels.
With the unexpected rate cut, the best-performing unit trust sectors over the quarter were those that benefit from lower short-term interest rates.
The local stock market followed the global trend with a negative start to the year, followed by a good rally during the second half of the quarter.
Absolute funds or targeted return funds have very diverse risk profiles, writes <i>Dr Prieur du Plessis</i>, Plexus group chairperson.
