Foord Equity Fund started out, following its launch in August 2002, moving in tandem with its peer group average in 2003 and underperforming in 2004.
But in 2005 FE showed its true colours, garnering the Standard & Poor's/FM award as the top domestic equity general fund.
So far this year Foord Equity Fund has built on its success in 2005 and over six and 12 months remains top of its sector rankings. An important factor has been the fund's early accumulation of shares that will benefit from the expected strong growth in fixed investment in the economy, explains Dave Foord, Foord Equity Fund's manager.
His optimism on fixed investment extends to the economy as a whole. "Strong GDP growth will last longer than most people expect," says Foord. Even SA's big current-account deficit is unlikely to cause the economy to "hit a brick wall".
Foord feels a "softer" rand and not a big interest rate hike would be the likely path of any adjustment process.
Foord, a staunch equity bull, says: "The market is cheap; earnings growth will again beat the consensus forecast in 2006."

Financial Mail - 31 March 2006