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N-11 Market Update • Fitch Ratings has no requirement to wait for three years for a new upgrade after Turkey was raised to investment ranking in November, state-owned Anatolia news agency reported. • The Philippine peso has strengthened more than 5 percent against the dollar in the past 12 months, the best performer among 25 emerging-market currencies tracked by Bloomberg. • Pakistan’s Election Commission appointed a former judge, Mir Hazar Khan Khoso, to head a caretaker government before May general elections, after leading political parties failed to agree on a candidate.	22/03/2013	Download Report
2013 Outlook: Key Themes to Watch Four main themes to continue to affect the investment outlook for 2013: 1.Direct and indirect taxes will continue to rise. 2.The devaluation of money versus real assets. This has been occurring in the last decade and will continue throughout this decade. 3.Outperformance of equities markets with lower levels of Debt-to-GDP versus equities markets with high levels of Debt-to-GPD. BRIC, Next 11 Emerging Markets, will outperform Developed Equity Markets. 4.High yielding, stable, partly-monopolistic, inelastic-demand stocks will remain attractive given interest rates are likely to remain low for many years.	18/01/2013	Download Report
MIST outeprform BRICs Mexico, Indonesia, South Korea and Turkey (MIST) have outperformed the BRIC countries with faster growing economies and increasing investment demand, reports Bloomberg. “The MIST economies more than doubled in size in the past decade, topping Germany last year”, the report says. Goldman Sachs’ Next-11 fund which also includes Bangladesh, Egypt, Nigeria, Pakistan, the Philippines and Vietnam “hasn’t been affected by the disappointment in the U.S. and obviously the European markets especially, and all the disappointment in some of the BRIC markets” according to Goldman’s Jim O'Neill.	14/08/2012	Download Report
Oil Market Update 2012 started with a jump in the prices of commodities helping to drive sentiment towards non safe-haven assets as January marked one of the best performing months in the past decade for the commodity complex. The financial investment flow back into the commodity sector had been long overdue since the tumultuous months in June and October 2011	16/02/2012	Download Report
Gold and the Great Depression The downturn in the global economy since 2008 is reminiscent of recessions of times past and the methods employed in curtailing any further economic turmoil have yet to prove effective. This piece aims to highlight why modern techniques (quantitative easing) will devalue money just as the departure from the gold standard did.	07/10/2011	Download Report

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Advice

Nothing contained within this site shall be deemed or construed to constitute a recommendation or financial or other professional advice. All potential investors should take appropriate investment advice before considering an investment into any Castlestone Management investment product. You should not rely solely on the information contained within these site pages, and should carefully read the appropriate offering document(s) and all other relevant documentation and/or terms and conditions available relating to any specific investment product before applying to purchase.

Investing

The capital value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Prospective investors should be aware of the underlying risks associated with investing in shares listed on certain stock markets which can be more volatile and less marketable than in more developed stock markets. The value of shares may rise or fall due to changes in the rate of exchange in the currency in which the funds are denominated if it is different from the investors' own currency.

Past performance is not a guide to future performance. The value of investments and any income derived from them can go down as well as up and the value of an investor's investment may be extremely volatile and be subject to sudden and substantial falls. The prices of commodities contracts and all derivatives instruments, including futures and options, are highly volatile. Certain investment positions may be illiquid. The Funds may invest in securities of financially troubled companies, illiquid over-the-counter securities and non-publicly traded securities.

Investment in emerging market funds involves risk factors and special considerations which may not be typically associated with investing in more developed markets. Political or economic change and instability may be more likely to occur and have a greater effect on the economies and markets of emerging countries. Adverse government policies, taxation, restrictions on foreign investment and on currency convertibility and repatriation, currency fluctuations and other developments in the laws and regulations of emerging countries in which investment may be made, including expropriation, nationalisation or other confiscation could result in financial loss.

Income from investments may fluctuate. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. You should be aware that investments in higher yielding bonds issued by borrowers with lower credit ratings may result in a greater risk of default and have a negative impact on income and capital value. Income payments may constitute a return of capital in whole or in part. Income may be achieved by foregoing future capital growth in Income share classes. Fund charges may be applied in whole or part to capital, which may result in capital erosion.

The above list of risk factors is not complete and reference should be made to the offering document(s) of the relevant product before investing.

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Castlestone Management Incorporated.

Registered in the British Virgin Islands, company number 202301.

Registered office: Rodus Building, 4th floor, P.O. Box 4064, VG 1110, Road Town, Tortola, British Virgin Islands.

Regulated and authorized by the British Virgin Islands Financial Services Commission, registration certificate number MA98/0087.

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Offering documents

The offering document(s) for the investment products listed on this site can be obtained on request from:

Circle Investment Support Services B.V., Utrechtseweg 31D, 3811 NA Amersfoort, The Netherlands.

The views expressed in this site are those of Castlestone Management and should not be regarded as offers to invest or subscribe for interests in any investment product. Financial products carry a number of inherent risks. Any person considering an investment should seek appropriate professional advice for further advice and information. Castlestone Management can only accept investments made through an IFA or third party provider.

Castlestone Management means Castlestone Management Incorporated, and its directors, officers, employees, agents and affiliates.

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