Weekly market Update & Podcasts – October

Returns (to 23rd October 2020)   SA Equity (ALSI) SA Bonds (ALBI) SA Property (SAPY) Global Markets (MSCI ACWI in ZAR) 1 week 0.5% 0.8% 5.2% -2.0% 1 month 2.1% 1.7% 6.0% 0.5% YTD -0.6% 3.3% -46.6% 21.1% Latest material ·         Accountability needs to start at the top for Ramaphosa’s plan to succeed https://ninetyone.com/en/south-africa/how-we-think/insights/accountability-needs-to-start-at-the-top-for-ramaphosas-plan-to-succeed ·         Ninety One Market Review – Quarter ending 30 September 2020 https://ninetyone.com/en/south-africa/how-we-think/insights/ninety-one-market-review-september-2020 ·         Outlook still bright…

The rand is now the world’s most undervalued currency – here’s where it should be

The Economist’s Big Mac index shows that – theoretically – the rand should be trading at R5.43/dollar. The currency is now undervalued by 67.4%, compared to Brazil (-32%), Argentina (-39%) and India (-56%). Of late, the rand has been a bit stronger after SA recorded its first current account surplus in 17 years. The Economist’s Big Mac Index has been updated, and shows that the rand is now a whopping 67%…