Market Overview
In-depth market commentary detailing market performance over the quarter The quarter ending September 2022 has been another challenging period for global investment markets as they continued downward. Considerable market volatility and uncertainty have endured amid subdued global trade expectations and global recessionary fears. Increasingly restrictive monetary policies from global central banks – given their concerns around longer lasting inflation – have kept markets in a tailspin. The local equity market (-2.43% in ZAR terms) outperformed developed (-6.19% in USD terms) and emerging markets (-11.57% in USD terms) over the quarter. The local equity market lagged both peers in rand terms as the strong demand for US dollars weakened the rand-dollar exchange rate by 9.6% over the quarter. Nonetheless, the dollar strength benefitted South African companies with predominantly foreign earnings (rand hedge shares) relative to companies with predominantly local earnings. Global... Read More
