For those of you who looked at your investment values at the end of March and didn’t like the returns for the end of the first quarter of this year, since then, many values have already increased again. Anything between 4 and 6-odd percent in two weeks. Values are not yet back to ‘pre-war’ numbers, but nothing we can control. The ups and the downs in the Middle East are not over. Mind you….. they’ve been there for thousands of years.
I ran the numbers for one client, showing how his additional investment that went in, in late March, bought more assets for him because of values being down than it would have bought for him if values hadn’t been down. More assets means you own more units in the fund; not that your investment is worth more. I said to the client: ‘you bought 103,500 units, instead of 95,840 units at the last pre-war price. I would rather have 103,000 assets than 95,000 assets.’ This is what times of depressed values bring to your money going in. We need them.
Anyway, at least the other side of the moon was quiet.