ANCHOR STRATEGY & ASSET ALLOCATION 3Q18

On the domestic front, both equity and bonds have been under pressure of late. Indeed, investing on the JSE has been a hard grind for the last three years and 2018 has thus far provided little relief. Our market’s drivers seem to have conspired against each other with frustrating regularity for some time now. When SA Inc. has rallied, the rand has strengthened (and vice versa); when Naspers was running, SA Inc. was battling; when we were getting some momentum, Steinhoff and Resilient happened. The net result has been a spluttering, stalling, frustrating sideways slog. Remember that eventually some of these factors (except for Steinhoff) will combine positively to produce an outsized positive surprise. In this report we take a step back and survey the fundamental drivers of the domestic market. We also highlight some compelling bargains amongst SA’s large corporates. Ultimately, we think these opportunities warrant our modest Overweight stance on SA equity.

For the full report and our views on each asset class, click here.

OUR LATEST NEWS AND RESEARCH

INVESTING IN YOUR NEEDS

Submit your details and we’ll give you a call back to assist and advise you on your investment.

SUBSCRIBE TO OUR NEWSLETTERS

Subscribe to our newsletters to receive regular market commentary, research and updates from the Anchor team. Select between our Individual or Financial Advisor newsletters by selecting the relevant tab below.

Insights and commentary to help you navigate markets.

Subscribe to Anchor's daily Current Co-ordinates newsletter.

Newsletter popup