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Quaterly Investor reporting 2021 Q3

AMI Big50 ex-SA ETF

Globally market have been steadily gaining with some economies reviewing interest rate with most staying the same namely the US dollar kept rates at 0.25% and BOE keeping rates at 0.10% with the exception of Norway raising rates since the pandemic. The African martes have kept rates the same with South Africa keeping  3.50% The dollar index has been fairly muted with the decision trading at 93.15 and the USD/ZAR at 14.72. Federal reserve during the FOMC meeting chairman Powell noted that reeling the interest rates by the end of 2021, as we expected more strong data. Commodities have been on somewhat of a super cycle with natural gas up at 5.400 Brent oil trading up at 75.65 a barrel due to supply and demand constrains with Gold weaker at 1770. The AMI equity funds trading at a discount at R5.86 for the 3rd quarter as the Index has rebalanced with new additions. African equities are still benefiting from low interest rates but gains are muted with high level of stimulus despite this analyst see Byung opportunities for the long term namely in destinations Egypt, Morocco, South Africa, Botswanan and Rwanda. Cloud Atlas Investing has successfully listed both ETFs in a secondary listing on Botswana stock exchange (BSE) allowing investors to participate in Africa’s growth.

New additions; Misr Beni Suef Cement.(0.41%); Telnet Holding (0.20); Unimed

(0.22%); Fan Milk (0.50%;) Egyptian Finl.& Indl.(0.23%).

Removals: Juhayna Food Inds. (1.30%); Ciment Du Maroc (1.38%); Egyptian Intl.Pharms.(0.85%); Credit Agricole Egypt (1.09%); Ste Nationale De Siderurgie (0.30%).

Fund factsheet: https://cloudatlasinvesting.com/ami-big50-ex-sa-etf/#resources

Risk rating: Medium | Closing price: R 8.30 | Closing NAV R 5,96 | Number of units: 771,842| 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 is live and officially trading on the Johannesburg Stock Exchange(JSE) and the Botswana Stock Exchange(BSE). The ETF tracking the S&P African Hard Currency Bond Index which rebalances semi-annually. Globally the bond market has gained as variants of the Covid-19 spread vs the vaccination rollout. Many central banks are looking to ease bond purchases in 4th quarter of 2021, with the Federal reserve looking to begin tapering as the US has seen massive stimulus of over $5 trillion. The bond markets still on edge as commodities continue to gain with possible stagflation on the market. The commodities super cycle adversely affect global economic recovery as prices continue to gain namely with Oil, Natural gas with gold prices losing momentum. African bond markets are  sill stand resilient despite global inflation as the Dollar index edges higher against all major currencies. Despite may African governments high levels of debt the Bond market has offers attractive yields for Investors with many  African sovereign governments raising money through the bond market with yields of 6%.

New additions: N/a

Removals: N/A

Fund factsheet: https://cloudatlasinvesting.com/asbi/#resources

Risk rating: High | Closing price: R 98.15 | Closing NAV R 93.15 | Number of units: 9,211 |Total Expense Ratio as targeted: 0.85% | Distribution: ZAR cents 0.00

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