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Rand hits R15/$

03 February 2020

Rand hits R15/$

Daily Investment Update

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Market commentary

SA flag Icon
South Africa

The local bourse ended the month lower after the rand registered a 7% drop against the dollar in January on concerns of poor economic growth prospects. At the closing bell, the JSE All Share lost 0.90%.

US flag Icon
United States

Wall Street’s major indices fell on Friday as concerns of a slowdown in China’s economy due to the Coronavirus outbreak persisted. At 18h00, the Dow lost 2.09% while the S&P 500 and Nasdaq lost 1.77% and 1.59% respectively.

EU flag Icon
Europe

While the UK geared to officially end its 40-year membership of the EU on Friday, European markets struggled for direction as gains from airlines and mining stocks were overshadowed by mounting fears of a Coronavirus epidemic. At 18h10, the pan-European Stoxx 600 lost 1.07%.

HK flag Icon
Hong Kong

Weakness in healthcare and energy stocks drove a decline in the Hong Kong stock market on Friday after the World Health Organisation (WHO) declared the rapid spread of the Coronavirus as a global emergency. The Hang Seng lost 0.52% at the close of business.

Japan flag Icon
Japan

Thanks to a number of upbeat company earnings, the Nikkei ended higher on Friday but was on track for its biggest weekly drop in six months after WHO declared the Coronavirus that has claimed 304 lives, with over 14 500 confirmed infections worldwide, a global emergency. At market close, the Nikkei has gained 0.99%.

Rand Icon
Rand

The rand fell for a seventh consecutive day on Friday and lost 7% against the dollar in January, marking its lowest level since August 2018 on concerns of poor economic growth prospects. At 18h20, the rand traded at R14.99 against the dollar, R16.27 against the euro and R19.76 against the British pound.

Precious metals Icon
Precious metals

Gold prices fell on Friday following reports of an increase in Chinese manufacturing activity throughout January. An ounce of spot gold traded at $1 598.08 at 18h30.

Oil Icon
Oil

Oil prices surged after WHO opposed travel bans and trade restrictions in declaring a global emergency over the rapid spread of the Coronavirus . At 18h30, a barrel of Brent crude traded at $58.69.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 56 079.54 - 0.90 - 1.69 - 0.27 0.55 7.14
Gold mining 2 882.80 2.47 1.42 4.83 40.51 98.48
Basic minerals 34 283.75 - 0.64 - 3.48 2.32 8.47 20.29
Industrial index 76 101.50 - 0.64 1.56 1.23 - 2.22 9.63
Financial 37 284.46 - 1.72 - 5.24 - 5.93 - 2.89 - 10.00
Fin + Ind 30 7 365.03 - 1.02 - 0.90 - 1.36 - 2.55 2.46
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) 28 256.03 - 2.09 - 0.89 5.11 6.47 15.79
S&P 500 PR (USD) 3 225.52 - 1.76 - 0.04 6.72 9.31 21.68
NASDAQ (USD) 9 150.94 - 1.59 2.03 10.64 12.53 27.03
FT-100 (GBP) 7 286.01 - 1.30 - 3.35 1.13 - 1.98 9.41
Hang Seng (HKD) 26 312.63 - 0.52 - 6.66 - 2.09 - 4.23 - 2.43
Nikkei 225 (JPY) 23 205.18 0.99 - 1.90 1.40 8.90 14.09
MSCI World (USD) 6 867.60 - 1.24 - 0.61 5.22 7.94 17.73
Frankfurt (EUR) 5 790.54 - 1.33 - 2.02 0.90 6.51 16.19
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 580.85 0.03 3.80 4.94 10.51 19.53
Platinum ($) 974.00 0.31 0.31 5.18 11.44 19.07
Brent Oil ($) 58.29 - 2.54 - 14.83 - 3.83 - 9.94 - 5.45
Rand/USD 15.00 - 1.59 - 4.66 - 1.41 - 0.17 - 12.83
Rand/GBP 19.75 - 2.11 - 5.30 - 3.66 - 8.42 - 13.41
Rand/EUR 16.62 - 2.12 - 3.89 - 1.05 1.01 - 9.29
ALBI (R) 706.79 0.20 1.19 3.30 4.47 8.48
  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. ZA: ABSA Manufacturing PMI JAN
  1. UK: Markit/CIPS Manufacturing PMI Final JAN
  2. US: Markit Manufacturing PMI Final JAN

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 3.82 7.91 7.94 8.00 8.03 7.79
PSG Wealth Income FoF D 3.72 7.95 7.71 7.95 8.22 7.94
PSG Wealth Preserver FoF D 3.19 7.08 4.84 5.86 6.09 6.30
PSG Wealth Moderate FoF D 3.27 7.88 2.84 5.10 5.90 5.61
PSG Wealth Creator FoF D 2.99 6.03 - 0.08 3.54 6.07 4.07
PSG Wealth Global Moderate FF D 9.09 21.11 12.57 8.85 5.42 8.81
PSG Wealth Global Creator FF D 13.12 35.10 19.05 16.94 11.97 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 4.85 11.00 1.31 5.88 7.24 3.68
PSG Wealth Global Creator FoF D 8.96 24.56 7.08 13.75 13.93 9.98
PSG Wealth Global Preserver FoF (USD) D 3.02 7.77 3.01 4.53 6.48 4.14
PSG Wealth Global Flexible FoF (USD) D 6.82 16.25 4.92 11.15 12.37 8.81
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D - 2.67 7.27 5.49 3.62 7.88 6.02
PSG Wealth Global Flexible FoF (GBP) D - 0.65 16.01 7.84 9.05 13.92 10.54
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.52 7.23 7.27 7.36 7.22 7.08
PSG Income A 3.81 8.01 8.09 8.32 8.36 7.98
PSG Diversified Income 3.21 6.68 6.63 7.39 7.61 7.63
PSG Stable A 1.71 0.69 1.49 3.98 5.61 5.62
PSG Balanced A 0.35 - 4.26 - 3.44 0.75 4.49 3.98
PSG Flexible A - 0.22 - 4.90 - 3.45 0.52 5.41 4.71
PSG SA Equity D - 7.58 - 19.22 - 14.77 - 7.25 - -
PSG Equity A - 1.84 - 10.63 - 8.69 - 3.00 4.99 1.77
PSG Global Flexible FF A 4.83 4.94 3.68 3.09 5.23 -
PSG Global Equity FF A 4.61 3.79 2.12 3.26 6.31 6.85
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A 0.64 - 3.77 - 6.58 0.63 7.35 2.51
PSG Global Equity USD 0.27 - 4.87 - 7.73 0.88 8.25 2.51
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 3.32 6.94 6.97 7.38 7.46 7.27
PSG Direct Low Equity 1.46 0.19 0.84 3.41 5.26 5.16
PSG Direct Managed - 0.02 - 4.85 - 3.88 0.24 4.25 3.70
PSG Direct Aggressive 0.16 - 4.92 - 3.84 - 0.29 4.95 -
PSG Direct Global Managed 4.59 4.46 3.21 2.62 4.75 -
PSG Direct Global Aggressive 4.45 3.75 2.24 2.74 5.44 -
  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 - 1.90 - 4.91 - 5.73 - 0.50 3.88 -
PSG Wealth SA Property Equity Portfolio - 4.79 - 12.83 - 10.47 - 5.63 - 3.70 -
PSG Wealth SA Dividend Income Equity Portfolio - 3.78 - 9.19 - 7.85 0.31 - -
PSG Wealth Offshore Equity Portfolio (USD) 10.64 21.94 8.87 16.78 15.24 -
PSG Wealth Managed Volatility Equity Portfolio - 2.73 - 8.74 - 10.58 - 4.48 - -
  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.


company logo

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.


Corporate actions

Date Company Share code Expectation
05 February 2020 Ecsponent Limited Preference Shares Class A Series 4 ECSP10 Cash Dividend
05 February 2020 Ecsponent Limited Preference Shares Class C Series 4 ECSP12 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class A Series 5 ECSP13 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 5 ECSP15 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 6 ECSP18 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 7 ECSP21 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 8 ECSP24 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class A Series 2 ECSP4 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 2 ECSP6 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class A Series 3 ECSP7 Cash Dividend
5 February 2020 Ecsponent Limited Preference Shares Class C Series 3 ECSP9 Cash Dividend
  1. 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.
  2. 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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