January 18, 2023

In-depth market commentary detailing market performance over the quarter If only the last quarter’s performance could be banked into the rest of 2023.  Quarter Four (Q4) of 2022 marked the best-performing quarter of the year for equity markets across the globe.  While 2022 was an extremely challenging year for investment markets, the final quarter saw some relief as the slight shift to a risk-on environment (when investors are prepared to adopt greater risk – selling out of safer haven assets (cash and bonds) in favour of risker assets (equities) – in their pursuit of higher returns) supported the market rebound.  However, significant headwinds persist which could derail this prevailing recovery.  This necessitates continued caution. Over the quarter: The local equity market (+12.22%) outperformed developed (+9.77%) and emerging markets (+9.70%) in both base currency and rand terms.  The risk-on environment over... Read More

Gary Mockler Group Chief Executive Officer         _______________________________________________________________________________________________________ Welcome to 2023.  All of us at GTC trust that you and your families did take a break at the end of the year and that you are ready and anticipating a productive investment year in 2023.  The investment year that was Until right at the end, last year was a long and difficult year (and not only difficult for investments).  Closest to home perhaps (at least here in Gauteng) was the progressive hard evidence of declining service delivery from many municipalities, the most important component of which was of course electricity.  Municipalities will rightfully protest that their lack of delivery in this regard was not of their doing, but rather a direct consequence of Eskom’s utility management.      Avoiding the ‘blame game’ we at GTC rather focus... Read More