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.
The RCI Flexible Fund closed January at 336.75c, up 0.3% while the JSE All Share rose 2.7%. With 30% of the fund invested offshore the 7.7% strength in the rand negatively contributed to the overall fund performance.
RCI BCI Worldwide Flex closed January at 106.8c, down 0.7% for the month. Over the past year it is up about 3.4% while the JSE Overall is down about 9.0%
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.