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Industry News

03 Dec 2019

Was 2019 a better year?

By Dave Mohr (Chief Investment Strategist) & Izak Odendaal (Investment Strategist) from Old Mutual Wealth Believe it or not, but it is December already. Barring a surprise Christmas rally or a visit from the Market Grinch, we have a reasonably good idea what the calendar year returns for 2019 should be. On one level this...
03 Dec 2019

Latest GDP figures show need for turnaround plan

‘The worse-than-expected 3Q 2019 growth figures again emphasize the serious economic challenges faced by SA. This is according to NWU Business School Economist, Professor Raymond Parsons. Based on previous economic data the Reserve Bank, National Treasury, credit rating agencies and several private sector economists all had already further lowered their growth forecasts for 2019 to...
03 Dec 2019

Q3 GDP figure 'not a complete surprise'

By Reza Hendrickse, Portfolio Manager at PPS Investments. After its second quarter rebound, the SA economy ground to a halt in the third quarter. The news isn’t a complete surprise, with related data having already provided early indications of a slump in second half activity. According to official data released by Statistics South Africa today, the...
03 Dec 2019

GDP contracts by 0,6% in the third quarter

After rebounding by a revised 3,2% in the second quarter of 2019, activity in the South African economy slipped slightly in the third quarter, Statistics SA says. Mining, manufacturing and transport were the biggest drags on growth in gross domestic product (GDP). Mining was down by 6,1%, driven largely by a fall in the production...
03 Dec 2019

Discovery sets up new VHI business unit

Discovery has announced the establishment of a new business unit, Vitality Health International (VHI). The purpose of the unit is to coordinate and intensify focus and resource allocation to Discovery’s global emerging health insurance initiatives. This comes on the back of the considerable growth of Ping An Health and the presence of other opportunities with...
02 Dec 2019

Why the Ashburton Global Leaders ZAR Equity Feeder Fund is popular with SA investors seeking offshore investments

As economic worries persist and after years of a sluggish JSE performance, many South African are looking for potentially better returns from top performing offshore investments and diversification into hard currency assets.  But some are unable or prefer not to invest in offshore funds. In response, Ashburton Investments has made investing in leading markets hassle free through feeder funds, such as...
02 Dec 2019

Absa Purchasing Managers’ Index drops to 47.7 points in November

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked down to 47.7 index points in November from 48.1 in October. The decline was broad-based as four of the five subcomponents of the headline PMI nudged down when compared with the previous month. Despite the decline, the average level of the PMI in October and November...
02 Dec 2019

A weaker GDP in Q3 2019?

By PwC Strategy& economists. Statistics South Africa (StatsSA) will release the country’s latest gross domestic product (GDP) data on Tuesday, December 3. The South African economy expanded by 3.1% quarter-onquarter (q-o-q) during 2019Q2. This was a much stronger outcome than expected and allowed South Africa to ward off a dreaded recession. The largest contributor to...
29 Nov 2019

Metope launches high yield property income fund

Markets move in cycles. Anyone currently invested in a portfolio of local equities or listed property would know that we’re currently in a prolonged downturn, where returns over the last 3-5 years have been dismal. In times like these, the last thing you want is to be drawing down capital, locking in those losses. Long-term...
29 Nov 2019

Draft amendments to Financial Sector Regulations published

The Minister of Finance has published draft amendments to Financial Sector Regulations (“the Regulations”) for public comment. The Regulations were made in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act), published in Government Notice No.R405 of 29 March 2018, as amended, are set out in...

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