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Bank shares rallied in 2016 – but will the good run continue?
Clyde Rossouw, Portfolio Manager, & Nazmeera Moola, co-Head of fixed Income, argue that now is the time for the SARB to take the lead and make a bold, but correct step by cutting rates and thereby provide some relief to the SA economy.
The US Federal Reserve (the Fed, as it is commonly known) increased its target interest rate last week as expected by 0.25%. The fourth increase since the start of the historically gradual hiking cycle in December 2015, it takes the fed funds rate target range to a range of 1% - 1.25%. (We pay close attention to US markets and interest rates since they set the tone for global markets and by implication, South African markets.) The Fed also spelled out plans to reduce its $4.5 trillion balance sheet, which ballooned after three rounds of quantitative easing between 2008 and 2014.
Sanlam Global Investment Solutions (SGIS) has today announced that the Sanlam Managed Risk UCITS Fund is now managed solely by Artificial Intelligence (AI) – making it the first Balanced Fund in the world fully driven by AI.
The strongest deterrent against FSP compliance missteps is or should be: