With the Rugby World Cup behind us, we can proudly say that we are the world champions. We destroyed England in the final. This when, in March 2018, there was absolutely no excitement about this year’s World Cup on a local front. Few South Africans would have expected a performance that would see us win.
The most important lesson we learnt from the whole experience, is how quickly momentum can spin in your favour when the wheels start to turn.
When you take a look at the local stock exchange, you will see that we had a very similar experience with midmarket capitalisation shares (mid-caps). The FTSE/JSE Mid-Cap Index consists of shares listed on the JSE that fall outside of the 40 largest shares, but within the top 100. In other words, mid-caps account for the top 41 to 100 largest companies listed on the bourse according to market capitalisation.
When you work your way through these 60 companies, you will see that most of them generate their earnings within the borders of South Africa. Therefore, most of them feature as so-called “SA Inc.” companies.
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