The Prime Value Imputation Fund (PVIF) recorded a loss of -1.7% in December, and was down -40.6% for 2008, while the Prime Value Growth Fund (PVGF) returned -31.5% in 2008 (+1.1% in December).
Both funds benefited from underweight positions in financial and telecommunications stocks, and overweight positions in industrial stocks, however individual stock selection in the PVIF contributed to a negative overall return. Prime remains cautious in the short term, although there have been some recent positive signs (falling volatility, small data improvements and central bank and government interventions), and believe good opportunities will present themselves in the coming months.
