Pentad Online Quarterly Review – March 2008

Welcome to the Quarterly Review of Pentad Equities Fund. The first quarter of 2008 was dominated by concerns about slowing global economic growth. Investors struggled to assess the extent of the US financial crisis and the impact it will have on corporate earnings worldwide. Stock markets slumped, with the MSCI World Index dropping 8.95% in dollar terms and the Standard & Poor’s 500 Stock Index posting its worst quarter in five and a half years.

Pentad Equities’ returns during the first quarter were dragged down by the poor performance of all major equity markets. Global, North American, Asian and European Equity classes posted negative returns in the first quarter, but are retaining positive APRs since inception. In response to this, the Fund Manager is taking some cash positions, liquidating some of the worst performing underlying funds, and allocating the proceedings to more conservative assets, which will help to improve returns. April data has already started to show a positive movement, as markets worldwide are recovering from recent falls.

To read more about Pentad Fund’s performance, please click on the links below.
Asian Equity Class European Equity Class Global Equity Class North American Equity Class



Class Q1 Performance 12-Month Return APR since inception
Asian Equity

-13.70%

4.04%

9.80%
European Equity

-14.56%

-17.27%

7.38%
Global Equity

-6.10%

1.61%

12.91%
North American Equity

-6.25%

0.99%

6.04%


Investment Advisor: Centurion Portfolio Managers Ltd. Authorised and regulated by the Financial Services Authority.
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