Recent events in the Middle East have created uncertainty in financial markets.

Conflicts around the world can affect fuel prices, food prices, economic growth and can increase inflation. South Africa’s reliance on imported fuel means higher petrol and diesel costs, which in turn raise transport costs and contribute to inflation.

This has an impact on investment markets and retirement savings in the short term.

While these events can be concerning, they are a normal part of investing. Over the years, markets have faced many challenges but always recover and grow over the long term.

In response to this uncertainty, the Fund’s investment strategy is designed to be resilient and well-diversified. This helps reduce risk and prepares the portfolio for different economic conditions.

The portfolio includes exposure to local and global markets and a mix of growth and inflation-protected assets, with offshore investments reducing reliance on the local economy. The Fund’s strong performance to the end of March 2026 demonstrates the value of a disciplined, long-term approach in unpredictable market conditions.

The Balanced Growth Portfolio is structured to be prepared for a wide range of outcomes, and its resilience has supported consistent, inflation-beating returns over time.

Periods of market volatility are uncomfortable, but they are usually temporary. Making emotional decisions during these times can affect your long-term retirement outcomes. Remaining invested allows your portfolio to recover and benefit from future opportunities.