Investors go multi-asset-everything as 2022 equity returns fizzle
The flow of funds into, out of and through South Africa’s collective investment schemes (CIS) industry offers many ‘tells’ about investor behaviours and sentiments. For this reason, the quarterly CIS statistics published by the Association for Savings and Investment South Africa (ASISA) always make for interesting reading. Unfortunately, the first observation that can be drawn from the 30 September 2022 numbers is that financial market returns have, on average, been rather lacklustre of late. Why do we say that?