Shopping List (Local)

A reference guide to superior collective investment schemes in South Africa.

Local-Shopping-List-Q421_Apr22

South Africa’s GDP advanced by 1.2% in the fourth quarter despite the emergence of the Omicron variant which proved to be less severe than previous variants. Five of the ten sectors experienced an increase in output with agriculture (+12.2%), trade (+2.9%), manufacturing (+2.8%), personal services (+2.7%) and transport & communications (+2.2%) being the key drivers to growth. Electricity, gas & water (-3.4%) and mining (-3.1%) were the leading detractors for the quarter, impacted mainly by Eskom’s electricity outages. The economic expansion follows a quarter of contraction and three consecutive quarters of growth in 2021, resulting in an annual growth of 4.9% in 2021.

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Local Shopping List - September 2021

South Africa’s GDP expanded by 1% in the first quarter of 2021, which translates to an annualised growth rate of 4.6%. This is modestly lower than the downwardly revised 1.4% growth recorded in the last quarter of 2020. Eight of the ten industries ended the quarter higher, while two industries lagged – electricity, gas & water (-2.6%) and agriculture (-3.2%). Mining (+18.1%), finance (+7.4%) and trade (+6.2%) were the biggest drivers of growth on the production side. Clothing & footwear was the highest at 22% on the expenditure side.

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Local Shopping List - April 2021

South Africa’s GDP rebounded by 13.5% in the third quarter of 2020 as COVID-19 lockdown restrictions eased, resulting in an annualised growth rate of 66.1%. All sectors experienced an increase in output with manufacturing (210.2%), trade, catering & accommodation (137%) and mining & quarrying (288.3%) being the biggest drivers of growth. Despite this rebound, industries have a long way to go before attaining pre-pandemic production levels. Overall, the economy has contracted 5.8% during the year.

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September 2020 - Review of Quarter 2

Year-to-date (30 June 2020) South African equities delivered mostly negative returns, with the broader index (JSE ALSI) down -3.16%, while offshore equities (MSCI World), aided by some currency depreciation were up 21% in ZAR. South African equities have subsequently continued to recover, but as a recent Funds on Friday article pointed out, the rally was mostly driven by SA corporates with globally diversified earnings.

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April 2020 - Review of Quarter 4

The last quarter of 2019 gave us some really strong performances across almost all assets classes. The JSE ALSI rallied 4.88% to end the year 10.52% up. Global markets (MSCI World) ended the year 24% higher than the year before. This came on the back of one of the longest bull-runs ever.

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