JUNE 2021 I SA MARKET & PORTFOLIO COMMENTARY

JUNE 2021 I SA MARKET & PORTFOLIO COMMENTARY

It is pleasing to report that the JSE ALSI Index returned 13.2% for the 6 months to 30 June 2021, outperforming the S&P 500 return of 11.79% and providing the best start to a year since 2007. The Rand strengthened by 2.36% to the US Dollar over the period.  The...
JUNE 2021 I SA MARKET & PORTFOLIO COMMENTARY

MAY 2021 | SA MARKET & PORTFOLIO COMMENTARY

What an incredible year it has been since the advent of Covid-19 in capital markets. The global fiscal reaction to Covid-19 and lockdown of economies – which could be described as a reaction to a global ‘Covid’ war – has been astronomical and dwarfs the...
MARCH 2021 | SA MARKET & PORTFOLIO COMMENTARY

MARCH 2021 | SA MARKET & PORTFOLIO COMMENTARY

The major driver of short-term volatility in markets is the expectation of higher US inflation. The market is expecting a short-term inflation upside surprise, not only due to base effects, but also due to the contributions of higher PGM metal, oil and food prices....
MARCH 2021 | SA MARKET & PORTFOLIO COMMENTARY

FEBRUARY 2021 | SA MARKET & PORTFOLIO COMMENTARY

The market volatility continued in February. Volatility can be interpreted as a negative, but we view it as an environment where you can use volatility to your advantage. Volatility creates opportunity. In the world we live in with low interest rates and low developed...