It goes without saying that global stock market performance has been extraordinary during the past year. The S&P 500, for instance, is up 65% since its low last March and nearly 16% for the year. The Nasdaq, laden with technology stocks, is 44% higher for the year. Valuations are now trading at enormous premiums.
The wider stock market is clearly being powered by expectations of strong growth after vaccines have been extensively distributed and the economy fully opens. One thing, arguably, the pandemic has underscored is that it is a forwardlooking medium. But now it is probably more about future expectations than current conditions.
We spoke to Coronation Fund Managers’ Neil Padoa about current trends. Head of global developed markets and portfolio manager there, he graduated with a Bachelor of Economic Science at Wits University and is a fellow of the Faculty of Actuaries. With 13 years’ investment experience under his belt, he worked as a management consultant at Bain & Co, an equity analyst in London; and joined Coronation in May 2012.
Although the US equity market has grown to represent 61% of the FTSE World Index, does it still offer good value?
We evaluate each stock on its own merits, and yes, even in the US, we are still finding a mix of competitively entrenched businesses, and highly innovative companies with strong growth prospects.
هذه القصة مأخوذة من طبعة 9 April 2021 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 9 April 2021 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.
