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US inflation rate rises to 14-month high

15 January 2020

US inflation rate rises to 14-month high

Daily Investment Update

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Market commentary

SA flag Icon
South Africa

The JSE capped gains on Tuesday as investors eyed the signing of the first phase of a trade deal between the US and China. The JSE rose 0.69%.

US flag Icon
United States

Wall Street reached fresh highs on Tuesday, as stronger-than-expected earnings from JPMorgan and Citigroup added to optimism about the domestic economy ahead of the imminent signing of a US-China trade deal. At 21h00 the Dow Jones was trading 0.17% in the green.

EU flag Icon
Europe

A record high for Louis Vuitton owner LVMH and a rally in homebuilder Taylor Wimpey helped to push European shares higher on Tuesday. The pan-European STOXX 600 index closed up 0.32%.

HK flag Icon
Hong Kong

Hong Kong stocks reversed gains on Tuesday as investors pocketed gains following a strong rally underpinned by optimism towards the signing of a phase one Sino-US trade deal. The Hang Seng index closed lower 0.20%.

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Japan

Japanese shares rose on Tuesday as markets resumed trading after a long weekend, with signs of goodwill between Beijing and Washington supporting risk assets. The Nikkei advanced 0.73%.

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Rand

The rand was weaker on Tuesday, after earlier reaching an intra-day low of R14.49/$, its worst level so far this year. At 17h30, it had fallen 0.12% to R14.40/$.

Precious metals Icon
Precious metals

Gold slipped on Tuesday as strength in equities markets and hopes for a smooth signing of the US-China phase one trade deal tarnished bullion's safe-haven appeal. Spot gold dipped to $1 546.23/oz at 21h00.

Oil Icon
Oil

Oil prices slid towards $64 a barrel on Tuesday, extending four days of declines due to easing concerns about possible supply disruptions as a result of tensions in the Middle East. Brent crude however rose to $65.43 a barrel at 21h00.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 57 967.13 0.69 2.24 5.31 3.05 12.14
Gold mining 2 680.57 - 2.77 3.25 10.45 36.01 95.82
Basic minerals 35 641.80 - 0.57 0.32 12.06 11.25 28.67
Industrial index 77 813.16 1.15 5.94 4.76 1.22 11.26
Financial 39 047.73 1.42 - 1.77 - 1.20 - 3.02 - 2.49
Fin + Ind 30 7 593.89 1.24 3.10 2.59 - 0.21 6.41
International markets (Base currency)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Dow Jones (USD) 28 939.67 0.11 2.91 8.69 7.17 24.00
S&P 500 PR (USD) 3 283.15 - 0.14 3.75 11.23 10.02 29.70
NASDAQ (USD) 9 273.93 1.04 6.23 15.40 13.09 34.48
FT-100 (GBP) 7 622.35 0.06 3.76 6.34 3.65 16.37
Hang Seng (HKD) 28 885.14 - 0.24 4.32 9.08 2.57 13.84
Nikkei 225 (JPY) 24 025.17 0.73 0.18 10.41 11.89 20.52
MSCI World (USD) 6 999.29 0.45 3.04 9.95 8.80 24.43
Frankfurt (EUR) 6 002.20 0.04 1.31 7.77 9.20 23.96
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 550.35 0.10 5.42 3.47 10.30 19.92
Platinum ($) 987.58 1.13 3.20 8.64 17.48 20.85
Brent Oil ($) 64.20 - 1.20 - 1.56 6.10 - 3.78 6.15
Rand/USD 14.40 - 0.12 - 0.34 3.54 - 3.99 - 4.62
Rand/GBP 18.76 - 0.38 1.72 1.98 - 8.05 - 5.70
Rand/EUR 16.03 - 0.09 - 0.19 3.04 - 2.80 - 1.45
ALBI (R) 698.62 0.19 1.13 0.63 2.06 9.11
  1. Some data may be delayed, the above table reflects the latest available information
  2. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month


Economic calendar

Local International
  1. Retail sales NOV
  1. UK: Inflation rate DEC
  2. US: US-China Phase 1 Trade Deal Signature

Source: Reuters, Business Day, Trading Economics


PSG Product Matrix

Fund matrix

PSG Wealth Solutions
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Enhanced Interest D 3.81 7.92 7.94 7.98 8.01 7.78
PSG Wealth Income FoF D 3.43 8.06 7.57 7.84 8.20 8.03
PSG Wealth Preserver FoF D 3.04 7.61 4.55 5.91 5.94 6.69
PSG Wealth Moderate FoF D 3.68 9.18 2.83 5.32 5.96 6.30
PSG Wealth Creator FoF D 5.10 9.56 0.68 4.44 6.73 5.16
PSG Wealth Global Moderate FF D 8.70 18.36 10.50 8.65 3.74 8.72
PSG Wealth Global Creator FF D 12.71 32.81 17.51 16.77 10.07 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 5.72 13.92 2.37 6.31 7.31 3.92
PSG Wealth Global Creator FoF D 9.31 27.41 8.67 14.13 13.64 10.04
PSG Wealth Global Preserver FoF (USD) D 3.25 9.12 3.17 4.57 6.15 4.35
PSG Wealth Global Flexible FoF (USD) D 6.87 17.90 6.60 11.72 11.84 8.88
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 0.57 7.94 4.86 3.23 8.23 6.42
PSG Wealth Global Flexible FoF (GBP) D 3.40 16.65 8.43 8.89 13.94 11.06
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.52 7.23 7.27 7.36 7.37 7.19
PSG Income A 3.76 8.10 8.12 8.27 8.38 7.96
PSG Diversified Income 2.68 6.51 6.57 7.23 7.57 7.64
PSG Stable A 1.11 0.76 1.69 4.01 5.65 5.87
PSG Balanced A 0.11 - 3.76 - 3.06 1.02 4.82 4.59
PSG Flexible A 0.35 - 3.22 - 3.18 0.93 5.94 5.49
PSG SA Equity D - 6.53 - 16.39 - 12.97 - 6.40 - -
PSG Equity A - 1.97 - 9.04 - 8.35 - 2.45 5.83 2.51
PSG Global Flexible FF A 5.49 4.57 1.95 3.64 3.76 -
PSG Global Equity FF A 5.91 4.39 0.83 4.11 4.88 6.87
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A 2.20 1.27 - 5.27 1.71 8.32 2.75
PSG Global Equity USD 2.35 1.09 - 6.20 2.18 9.40 2.66
PSG Direct Portfolios
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Direct Flexible Income 3.10 6.92 6.96 7.29 7.48 7.27
PSG Direct Low Equity 0.95 0.31 1.04 3.46 5.35 5.44
PSG Direct Managed - 0.06 - 4.06 - 3.53 0.54 4.62 4.34
PSG Direct Aggressive 0.54 - 3.69 - 3.95 0.19 5.14 -
PSG Direct Global Managed 5.25 4.09 1.48 3.17 3.29 -
PSG Direct Global Aggressive 5.52 3.99 0.79 3.47 4.00 -
  1. The PSG Wealth Solutions are exclusively available through registered PSG planners and/or advisers
  2. The above information reflects the latest available data at time of distribution, as such product performance data reflects T-2 numbers
  3. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month
  4. The PSG Best Ideas Portfolios were renamed to the PSG Direct Portfolios in February 2018

Equity portfolio matrix

PSG Wealth House View Portfolios
Portfolio 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth SA Equity Portfolio - 2.11 - 4.60 - 4.19 - 0.10 5.17 -
PSG Wealth SA Property Equity Portfolio - 4.66 - 5.53 - 9.60 - 5.17 - 3.56 -
PSG Wealth SA Dividend Income Equity Portfolio - 4.66 - 6.77 - 5.51 0.48 - -
PSG Wealth Offshore Equity Portfolio (USD) 10.00 23.97 9.75 16.61 15.93 -
PSG Wealth Managed Volatility Equity Portfolio - 2.34 - 6.78 - 8.00 - 3.51 - -
  1. The PSG Wealth equity portfolios are exclusively available through registered PSG planners and/or advisers
  2. PSG Wealth equity portfolio performance are shown gross of management fees, but net of brokerage and other trading costs
  3. PSG Wealth SA and Offshore Equity Portfolio Inception date: 30 August 2015
  4. PSG Wealth SA Listed Property Portfolio Inception date: 1 December 2015
  5. PSG Wealth Dividend Income Equity Portfolio Inception date: 29 April 2016
  6. PSG Wealth Managed Volatility Equity Portfolio Inception date: 28 July 2016
  7. PSG Wealth Funds are exclusively available through registered PSG planners and/or advisers


Recent Investment Ideas

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Highlights

  • Our recommendation for PFE US is overweight; click here to read the full report on our secure site.
  • The group has been able to protect its gross profit margins despite the challenging trading environment because of its scale and defensive nature.
  • We believe Pfizer is a high-quality company with a high ROE and an attractive and sustainable operating margin.


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Highlights

  • Our recommendation for MCG SJ is overweight; click here to read the full report on our secure site.
  • Having only listed on the JSE in February 2019, MultiChoice has already seen its shares grow by approximately 17% to R125.
  • At these levels, and trading at a forward P/E of 15 times, we believe that MultiChoice is still undervalued and is well-positioned to benefit from mass-market growth in both South and Southern Africa.


company logo

Highlights

  • Our recommendation for SOL SJ is underweight; click here to read the full report on our secure site.
  • Sasol is currently facing an increased risk profile through the decline in chemical product prices, a severely constrained balance sheet and slowing global economic backdrop.
  • The group’s chemicals business is also facing growing competition from additional ethylene capacity/supply into the market.


  1. This document only contains general information and not the opinion of the distributor.

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Author
author

Adriaan Pask PhD

Chief Investment Officer


At PSG Wealth
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