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As the world’s football teams have been battling out for supremacy at the World Cup, Duncan Lamont, Head of Research and Analytics at Schroders, says so have the major equity markets been jostling for the position. However, Lamont says that in both cases, results have not gone entirely to form.
The American economy strained under the revived discussions on trading tariffs for US aluminium and steel imports. Neighbouring countries Canada and Mexico responded in turn, with Canada issuing retaliatory tariffs and Mexico threatening to increase tariffs on agricultural produce. Trump also suggested that China, the EU and UK will face protectionist action, further reducing investor confidence in global markets. The Dow Jones Index suffered three weeks of losses, but spiked in the month’s last three days mainly due to a strong performance by Nike.
As at the end of June 2018, the total market capitalisation of all ETFs and ETNs, listed on the JSE, totalled R84,1 billion.
The investment industry’s roller coaster ride, when it comes to returns, has seen some significant peaks and troughs when one looks at the period between 2016 and 2017.
The strongest deterrent against FSP compliance missteps is or should be: