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Yield and Uncertainty Everywhere - A review of 2018 and our outlook for 2019

06 February 2019 Martin Hammond, Portfolio Analyst and Trader at Prescient Investment Management
Martin Hammond, Portfolio Analyst and Trader at Prescient Investment Management

Martin Hammond, Portfolio Analyst and Trader at Prescient Investment Management

Review Of 2018

2018 was a tough year across asset classes. Listed property sold off aggressively at the start of the year on valuation and governance concerns, which saw Resilient Property and related entities losing more than half their market cap. Property continues to struggle, with tenants aiming to minimise rental increases or even reduce their rental payments. South African equity and offshore equity were both down over 8% in an increasingly jittery market environment. From a South African investor perspective, offshore equity losses were mitigated by the rand depreciating 16% over the course of the year. Preference shares recovered from a disastrous 2017 to return 15% to their owners in 2018.

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Quick Polls

QUESTION

With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

ANSWER

Yes, it forms part of the FSCA’s mandate to protect and maintain the sustainability of the financial sector, and to legislate fairness and make it the law
No, the products are different therefore the health sector should not have to be subjected to similar conduct requirements
This will cause problems. More consultations should be conducted before the final version of the COFI Bill is sent to Parliament for promulgation
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FAnews April 2019 Get the latest issue of FAnews

This month's headlines

Differences aside… in the name of fairness
Advice… now more important than ever
COFI… is this a reason to be positive?
Cyber cover: One size does not fit all
The need for member education
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