|
South Africa
The local bourse reached its highest level since early 2020 as emerging markets continued to benefit from the prospect of additional US stimulus. At the closing bell, the All Share gained 1.50%.
|
|
United States
Markets were closed due to a public holiday.
|
|
Europe
The FTSE 100 gained nearly 3% on Monday, as mining and energy stocks tracked a rally in commodity prices amid hopes of a swift economic recovery.
|
|
Hong Kong
Markets were closed due to a public holiday.
|
|
Japan
Japan’s Nikkei closed above 30 000 points on expectations for a rebound in corporate earnings and GDP growth.
|
|
Rand
The rand was amongst the best-performing emerging market currencies on Monday as investors eyed more US stimulus. At 18h20, it traded R14.43/$.
|
|
Precious metals
Platinum soared to its highest level in over six years “on expectations of a wider supply-demand deficit… as investors bet on a swift global economic recovery”.
|
|
Oil
Oil prices continued to surge on Monday as global vaccine rollouts revived demand. At 18h30, Brent crude was 0.97% higher at $63.42 a barrel.
|
| Local markets (R)
|
| 67 124.83
|
1.50
|
5.66
|
17.69
|
18.89
|
19.25
|
| 3 782.23
|
0.82
|
- 2.17
|
- 12.13
|
- 32.88
|
33.19
|
| 47 223.68
|
3.86
|
2.56
|
27.06
|
13.31
|
39.57
|
| 95 243.11
|
0.51
|
7.43
|
13.11
|
21.36
|
21.98
|
| 32 028.36
|
- 0.14
|
6.82
|
12.31
|
24.23
|
- 12.33
|
| 8 215.25
|
0.33
|
7.27
|
12.92
|
22.16
|
10.26
|
| International markets (Base currency)
|
| 31 458.40
|
0.09
|
1.42
|
8.77
|
13.64
|
8.94
|
| 3 934.83
|
0.47
|
3.64
|
11.69
|
17.37
|
18.56
|
| 14 095.47
|
0.50
|
7.88
|
20.59
|
28.48
|
46.18
|
| 6 756.11
|
2.52
|
0.31
|
7.29
|
11.97
|
- 6.08
|
| 30 173.57
|
0.45
|
8.12
|
15.13
|
22.10
|
12.88
|
| 30 084.15
|
1.91
|
5.49
|
18.66
|
30.22
|
29.46
|
| 8 432.72
|
0.38
|
4.30
|
12.16
|
19.41
|
18.22
|
| 6 089.94
|
0.42
|
2.33
|
7.90
|
9.36
|
2.66
|
| Other markets
|
| 1 825.43
|
0.36
|
- 1.96
|
- 3.23
|
- 6.72
|
15.29
|
| 1 333.52
|
2.16
|
17.26
|
44.27
|
35.87
|
32.10
|
| 63.65
|
0.55
|
9.85
|
39.59
|
37.39
|
13.20
|
| 14.41
|
0.56
|
4.71
|
6.33
|
16.55
|
3.03
|
| 20.10
|
0.22
|
2.86
|
1.50
|
11.15
|
- 3.66
|
| 17.50
|
0.51
|
4.75
|
4.18
|
14.48
|
- 8.63
|
| 779.39
|
- 0.02
|
3.29
|
5.24
|
9.49
|
9.54
|
- Some data may be delayed, the above table reflects the latest available information
- 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
| Local
|
International
|
- ZA: Manufacturing production DEC
|
- EA: GDP Growth Rate Q4 Estimate
- DE: ZEW Economic Sentiment Index FEB
- RU: PPI JAN
|
Source: Reuters, Business Day, Trading Economics
Fund matrix
| PSG Wealth Solutions
|
| 2.08
|
5.26
|
6.57
|
7.04
|
7.31
|
7.46
|
| 4.39
|
6.01
|
6.92
|
7.22
|
7.37
|
7.79
|
| 7.55
|
7.92
|
7.67
|
6.85
|
6.43
|
6.75
|
| 11.70
|
10.70
|
9.65
|
7.11
|
6.61
|
7.31
|
| 19.59
|
17.00
|
12.59
|
7.73
|
7.01
|
8.96
|
| - 9.32
|
4.76
|
10.22
|
-
|
-
|
-
|
| - 4.21
|
11.36
|
15.61
|
14.65
|
10.30
|
7.57
|
| - 2.81
|
18.15
|
20.81
|
-
|
-
|
-
|
| - 0.09
|
18.67
|
25.61
|
23.22
|
18.43
|
14.82
|
| PSG Wealth Solutions ($)
|
| 13.13
|
12.09
|
11.87
|
6.98
|
7.65
|
9.16
|
| 18.81
|
20.15
|
21.85
|
14.91
|
15.61
|
16.57
|
| 7.18
|
4.70
|
6.31
|
4.65
|
4.59
|
6.49
|
| 15.72
|
19.52
|
17.55
|
12.85
|
13.34
|
14.64
|
| PSG Wealth Solutions (£)
|
| 2.26
|
- 0.94
|
3.04
|
4.11
|
2.59
|
6.77
|
| 9.33
|
12.47
|
13.78
|
12.47
|
10.31
|
14.89
|
| PSG Asset Management
|
| 1.73
|
4.65
|
5.92
|
6.38
|
6.67
|
6.82
|
| 3.82
|
9.36
|
8.71
|
8.49
|
8.56
|
8.56
|
| 6.27
|
9.45
|
8.18
|
7.63
|
7.79
|
8.01
|
| 13.01
|
7.43
|
4.14
|
3.72
|
4.56
|
6.04
|
| 21.82
|
12.09
|
3.57
|
2.03
|
3.01
|
5.98
|
| 22.86
|
8.86
|
1.94
|
1.17
|
2.01
|
6.10
|
| 27.24
|
10.58
|
- 5.03
|
- 6.92
|
-
|
-
|
| 25.22
|
11.05
|
- 0.02
|
- 1.61
|
- 0.46
|
6.01
|
| 8.60
|
15.80
|
9.80
|
9.67
|
6.42
|
-
|
| 11.98
|
11.55
|
7.10
|
7.72
|
5.48
|
8.05
|
| PSG Asset Management ($)
|
| 29.11
|
17.05
|
6.32
|
2.33
|
4.25
|
9.58
|
| 32.92
|
14.26
|
4.43
|
1.00
|
3.76
|
9.90
|
- The PSG Wealth Solutions are exclusively available through registered PSG planners and/or advisers
- The above information reflects the latest available data at time of distribution, as such product performance data reflects T-2 numbers
- 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
Equity portfolio matrix
| PSG Wealth House View Portfolios
|
| 13.86
|
4.46
|
1.61
|
- 1.06
|
0.95
|
4.39
|
| 21.00
|
- 24.90
|
- 21.01
|
- 16.04
|
- 12.33
|
- 9.65
|
| 14.02
|
- 5.60
|
- 6.32
|
- 6.79
|
- 1.35
|
-
|
| 15.24
|
14.86
|
19.79
|
14.77
|
17.55
|
17.44
|
- The PSG Wealth equity portfolios are exclusively available through registered PSG planners and/or advisers
- PSG Wealth equity portfolio performance are shown gross of management fees, but net of brokerage and other trading costs
- PSG Wealth SA and Offshore Equity Portfolio Inception date: 30 August 2015
- PSG Wealth SA Listed Property Portfolio Inception date: 1 December 2015
- PSG Wealth Dividend Income Equity Portfolio Inception date: 29 April 2016
- PSG Wealth Managed Volatility Equity Portfolio Inception date: 28 July 2016
- PSG Wealth Funds are exclusively available through registered PSG planners and/or advisers
|
|
Highlights
- Apple’s valuation has increased since our last report and seems stretched at current levels, trading at a premium to its peers and its historical average.
- Although Apple has sound cash generation and a solid balance sheet, we expect it to come under pressure as global demand for iPhone and wearables weaken as markets become increasingly saturated.
- As the installed base matures, we expect revenue from services to slow while revenue from other product divisions should normalise after the Covid-19 surge.
- We maintain our underweight recommendation in the counter.
- For more information about this counter, please contact your PSG Wealth adviser.
|
|
|
Highlights
- The balance sheet of LVMH remains strong, which is essential to protect the equity value in the current environment.
- The group is trading at a forward PE of approximately 25 times, which is 17.6% above its five-year average.
- Although there is still some uncertainty pertaining to the pandemic, we believe the group is well-positioned for a reopening of the economy if the rollout of vaccines is successful.
- As a result, we maintain our neutral view on the counter.
- For more information about this counter, please contact your PSG Wealth adviser.
|
|
|
Highlights
- Coronation has a decent record of growing assets under management (AUM) over the past 17 years; however, AUM growth has been subdued over the past seven years, with funds up only 1.14% since September 2014.
- This shows that the group has been heavily impacted by the subdued local economic environment, which has translated into share price underperformance relative to the benchmark over the past five years (Coronation down 7.7% versus Capped SWIX up 11.1%).
- Based on the valuations and investment performance, we feel that the share is fairly valued and recommend a neutral exposure to Coronation.
- For more information about this counter, please contact your PSG Wealth adviser.
|
| Date
|
Company
|
Share code
|
Expectation
|
| 17 February 2021
|
FirstRand Limited Non-Cumulative Non-Redeemable B Preference Shares
|
FSRP
|
Cash Dividend
|
| 17 February 2021
|
Hudaco Industries Limited
|
HDC
|
Cash Dividend
|
| 17 February 2021
|
Investec Bank (Mauritius) Ltd Redeemable Cumulative Non-Participating No Par Value Preference Shares
|
IMRP3
|
Cash Dividend
|
| 17 February 2021
|
Investec Bank (Mauritius) Ltd Redeemable Cumulative Non-Participating No Par Value Preference Shares
|
IMRP6
|
Cash Dividend
|
| 17 February 2021
|
Investec Bank (Mauritius) Ltd Redeemable Cumulative Non-Participating No Par Value Preference Shares
|
IMRP7
|
Cash Dividend
|
| 17 February 2021
|
Mix Telematics Limited
|
MIX
|
Cash Dividend
|
| 17 February 2021
|
Octodec Investments Limited (REIT)
|
OCT
|
Cash Dividend
|
- The information above is to the best of our knowledge correct at the time of distribution but due to the nature thereof cannot be guaranteed.
- This document only contains general information and not the opinion of the distributor.
