2021 has been an interesting year for many reasons.

Coming hot off the back of 2020 (arguably one the most miserable years in recent history), you would be forgiven if you anchored expectations to the past and came through the year thinking “hey, this wasn’t so bad”.

In a way, the same could be said for our investment landscape. Having come off 2020 as a base, 2021 looked quite good. Year-on-year growth rates of most growth assets showed massive gains and even the average low-equity multi-asset fund managed double digit returns. It is, however, crucial to understand the “coming off a low base” effect and that investors should not be expecting these levels of returns in the years to come. The Rand also started off well but lost a lot of appeal with the news of the Omicron variant and the erroneous link to South Africa.

As we have a quick glance at some of the market factors that piqued our interest over the year gone by, we look forward to 2022 and wish you everyone a happy and prosperous new year.


Head of Portfolio Management, Roeloff Horne, unpacks the 2021 data and provides insight into the way forward for our clients in 2022 including key events that will meaningfully impact our portfolio construction.

Download the 2021 Dashboard here

Should you have any questions relating to the above, please do not hesitate to contact us.

The content of this article is for information purposes only and does not constitute an offer or invitation to any person. The opinions expressed are subject to change and are not to be interpreted as investment advice. You should consult an adviser who will be able to provide appropriate advice that is based on your specific needs and circumstances. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable and given in good faith, but no representation is made as to their accuracy, completeness or correctness. MitonOptimal South Africa (Pty) Limited is an Authorised Financial Services Provider Licence No. 28160, regulated by the Financial Sector Conduct Authority (FSCA) – Registration No. 2005/032750/07.MitonOptimal Portfolio Management (Pty) Limited is an Authorised Financial Services Provider Licence No. 734, regulated by the FSCA – Registration No. 2000/000717/07.

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