Although the market outlook on South Africa has cooled somewhat since the first quarter, there are some great opportunities to be found, as illustrated by the funds we look at in this edition.
The past quarter has been pretty eventful both domestically and globally, and we were left with a measured range of views and outlooks to digest following meetings with several leading market analysts in both Cape Town and Johannesburg late in April.
Generally we found the market outlook on South Africa to be significantly more subdued than the hype prevalent during President Cyril Ramaphosa’s ‘New Dawn’ in the first quarter.
Many well-worn issues of poor public management, state capture and corruption were raised again, and it was widely agreed that to get beyond the reprehensible ruin of the Jacob Zuma years will require an extended period of competent and rational macro- and micro-economic management, accompanied by the necessary structural reforms.
The consensus growth outlook for the domestic economy was 1% for this year, with most analysts expressing considerable concern about weaker-than-expected manufacturing production and markedly lower mining production.
That said, there is no reason to be entirely dismayed, according to Louis Niemand, director of Investec Asset Management. He has reminded us in this edition that since 1990 the local equity market has delivered an annualised return of 13.9%, and over the longer term, equities have always outperformed other asset classes and beaten inflation.
هذه القصة مأخوذة من طبعة 7 June 2018 من Finweek English.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة 7 June 2018 من Finweek English.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
