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Investor Quaterly Report Q4

AMI Big50 ex-SA ETF

As we come to the end of the year. Globally developed equity markets have rallied almost 200%. Central banks have kept rates low a new variant of covid emerges Omicron. Hindering the pace of growth with many economies entering levels of lockdown to curb the spread. African markets have benefited from the weaker dollar since the start of the year. With the dollar index picking up as the feds hawkish approach to hike rates in the new year have seen African equity markets gain over 40% since the start of the pandemic crash. Notably, the AMI series has taken macro and microeconomics and has not made any changes to the constituents of the Big 50. Cloud Atlas Investing has successfully listed both ETFs in a secondary listing on the Botswana stock exchange (BSE) allowing investors to participate in Africa’s growth. Trading at a discount we expect the African equity market to further pick up in the new year. African equity markets have struggled with liquidity in some African markets and the AMI ETF has made mitigated this liquidity and trading risk. So Byung opportunities for the long term namely in destinations Egypt, Morocco, South Africa, Botswanan, and Rwanda.

New additions; N/a

Removals: N\a

Fund factsheet:

Risk rating: Medium | Closing price: R 8.30 | Closing NAV R 5,96 | Number of units: 751,842| Total Expense Ratio as targeted: 0.85% | Distribution: ZAR cents 0.00

Cloud Atlas African Sovereign Bond ETF

The Cloud Atlas S&P African Sovereign Bond Index ETF has been a sweet spot in many portfolios as the yield on the African sovereign bonds is just over 8%. This attractive yield is higher than developed market bonds with yields of 1.50%  points on the US 10yr Bond. African central banks have kept rates low and increased leading from the international market. The race is on to ensure the new year at least half of the global population has been vaccinated and will allow for unhindered economic recovery. The bond market typically as a safe haven has benefits with increased flows this year as investors alike seek yield. The Cloud Atlas S&P African Sovereign Bond Index ETF rebalances and pays dividends semi-annually. Many sovereign central banks like the fed have a more hawkish approach in the new year intending to hike interest rates. We expect the African sovereign bond market to remain resilient and deliver investors consistent returns.

New additions: N/a

Removals: N/a

Fund factsheet:

Risk rating: High | Closing price: R 98.15 | Closing NAV R 93.15 | Number of units: 10,211 |Total Expense Ratio as targeted: 0.85% | Distribution: ZAR cents 0.00

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