Investing in a global equity fund would have enhanced returns over the past year. Even the worst performer, PSG Global Equity, did no worse than its domestic counterpart with a 5% loss.

There is a clear distinction between the performance of the value-orientated funds and those at the quality/growth end of the spectrum, though perhaps not as pronounced as a year ago. Absa Global Value, run by Schroders, is no longer in the red, giving a decent 8.2% return, in rand at least.

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