March 2012 Periodical

Risk – Fact and Myth
This article deals with a number of factors affecting an investor’s risk and we felt it was most topical at the moment, especially given the degree of (often ill informed) commentary that has been appearing on this topic in recent times.

It highlights how, beyond appropriate prudential holdings, cash can often be the highest risk investment that an investor can hold, the insidious effects that inflation can have on currency based investments despite their perception of having no capital volatility and the fact that, depending upon which element of risk assessment one uses, the relative “riskiness” of particular asset classes can change their place in the pecking order from less to more risky.

Most especially it highlights the extreme income volatility that has traditionally accompanied cash investments.

We hope you find this article of interest.

David Ward
We are delighted to announce a further strengthening of our capability in the management and oversight of philanthropic monies with the appointment of David Ward, a director of Philanthropy Australia and a former Managing Director of ANZ Trustees, as a special consultant to the firm on philanthropic matters. David will have special oversight on all matters relating to governance and trustee operations and responsibilities, as well as a special liaison role with key philanthropic and not for profit clients of the firm. A copy of David’s brief CV is attached in Link 2.

Harper Bernays Charitable Trust Performance
We have now been managing our own Public Charitable Trust for a variety of sub accounts on behalf of clients since 30 June 2006. Attached as Link 3 is the performance of that Trust from inception up to 31 December 2011.

Should you wish to discuss any of the material in this Periodical or any other matter of interest, please feel free to give us a call at any time.

Regards
Peter Harper

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