Ranfurly April 2020 Member Update

COVID-19 UPDATE

7 April 2020

Covid-19 has spread throughout the globe and like other business in compliance with the New Zealand wide lockdown our offices are closed, and Ranfurly Strategic staff are working and supporting the scheme from home. The lockdown has had no significant impact on our ability to manage the scheme and service you as members. The scheme independent supervisor, administrator and custodian have also confirmed that they are operating effectively during the lockdown.

March 2020 was the most turbulent month in the financial markets that we have seen since 2008 and it was a more abrupt economic slowdown than we saw in 2008. The major equity indices were down from their peak in February about 20% - 25% with the ASX 200 nearing a 30% decrease.

In light of the decreases in global equity markets we are reassured by the manner in which the Ranfurly Superannuation Scheme funds have performed, see below. The range of returns reflect the level of equity assets held in the funds with the conservative funds having lower exposure to equities and consequently being impacted less by the market volatility.

Fund March Quarter 12 Months

Sterling Balanced Fund -4.37% -6.59% 2.73%

Sterling Conservative Fund -3.68% -4.65% 2.84%

New Zealand Dollar Balanced Fund -4.23% -6.42% 3.95%

New Zealand Dollar Conservative Fund -3.97% -4.85% 3.09%¹

Sterling Growth Fund -4.24% -8.74% 2.68%

Note ¹ -  the fund inception was 18 October 2019, performance has been annualised using historical estimated and actual performance.

The Ranfurly fund invest into fund managed by Baillie Gifford. Baillie Gifford research each investment in depth and in this rapidly changing environment, they are adhering to their investment philosophy of long-term, bottom up growth investing. They maintain their long-term investment horizon and see the portfolios emerging robustly from the current crisis. The Baillie Gifford fund hold no illiquid investments.

We realise that these are concerning times for scheme member’s but we believe that the funds are well placed to recover once the global economy returns to normal, even if that is a new normal.

We hope that you and you families stay safe and well.

Thank you for your continued membership of the Ranfurly Superannuation Scheme.

Yours sincerely,

The Team at Ranfurly Strategic.

Phone +64 3 928 1440

Email: support@ranfurlystrategic.nz

Web:  www.ranfurlysuperannuation.nz

 For more information about the Scheme, please visit www.ranfurlysuperannuation.nz, contact us on +64 3 928 1440 or talk to your adviser today. A disclosure statement is available from our website or on request and free of charge.