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This year’s Budget Speech occurred against the backdrop of a deep and sustained global equity sell-off as investors reacted to the rapid spread of the COVID-19 coronavirus worldwide. While generally well received, the market impact of the Budget was overshadowed by these global developments. It is a reminder that global matters more than local when it comes to investments.
Markets are walking on eggshells as the outbreak of coronavirus disease (COVID-19), first reported from Wuhan, China in late December 2019, is wreaking economic havoc. Data from the world’s second largest economy shows a plunge in business activity in the last month, including massive declines in passenger traffic, electricity generation, shipping volumes and real estate transactions.
Global investors are taking advantage of buying opportunities ahead of policymakers looking to take more coordinated action on propping up economies due to the negative impact of the ongoing coronavirus outbreak.
The Satrix Investment Plan, launched in 2006, has been moved to SatrixNOW. Effective 1 March 2020, more than 50 000 Satrix Investment Plan clients have their accounts online at SatrixNOW.co.za, which is administered by EasyEquities and uses the technology of the Easy platform.
The strongest deterrent against FSP compliance missteps is or should be: