The South African market continues to provide excellent opportunities for the savvy investor, even at a time when many local investors are questioning whether they should remain invested in local equities or look offshore. That was one of the strong messages to emerge from the digital Morningstar Investment Conference last week, with a lively panel discussion around S.A. vs Global Equities, one of several highlights of the conference.
The number of companies listed on the JSE has decreased from 776 to 331 over the past 30 years, with over 14 companies delisting every year on a net average basis. This has spurred market commentators to discuss the JSE’s “slow death” in the context of a struggling local economy.
The local Collective Investment Schemes (CIS) industry reported net outflows of R18 billion for the second quarter of this year following the closure of South Africa’s biggest money market fund. Releasing the CIS industry statistics for the quarter and year ended June 2021, Sunette Mulder, senior policy advisor at the Association for Savings and Investment South Africa (ASISA), explains that the second quarter CIS flow statistics provide a distorted picture.
What may have started out as a political protest – to the jailing of former president Jacob Zuma – quickly descended into widespread violence and pillaging on an unimaginable scale last week in KwaZulu-Natal and townships around Johannesburg.
Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za