Off to a wobbly start
In the end, last year was very kind to local investors. Despite multiple Covid waves, a surge in global inflation and all manners of unpredictable local events, including unrest and destruction, all the major asset classes available to South African investors were positive with outstanding returns from local and global equity and property. Within global equity, the US was the clear winner, but emerging markets had a torrid year, dragged down by Chinese shares.