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The South African equity market has had and uninspiring performance in 2015. In nominal terms, the FTSE/JSE All-share Index (ALSI) delivered 5.1%, which translated into a real return (i.e. after inflation) of only 0.2%. Five-year average real equity market returns still amounted to 7.1%, while 10-year average returns were 7.8% p.a.
PPS Investments has launched the PPS Global Balanced Fund of Funds, a global multi-asset fund of funds that gives investors exposure to global equities and fixed income markets via selected skilled foreign asset managers.
The year 2015, which began with buoyant financial markets and great expectations for global growth, may instead be remembered as the “year of the downgrade.” As the months passed, one economy after another slowed, stalled, contracted or reverted to subpar growth, leaving markets and investors vacillating between cautious optimism and outright risk aversion.
Global economic developments.
The strongest deterrent against FSP compliance missteps is or should be: