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Rand weakens to over R15/$

08 August 2019

Rand weakens to over R15/$

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Special announcement

It is time for the annual Intellidex SA’s Top Stockbrokers survey. Take part by completing the survey here: http://www.intellidex.co.za/topbrokers2019


Market commentary

SA flag Icon
South Africa

The JSE made up some ground on Wednesday, despite Eskom troubles weighing the rand down and the US-China trade war leading investors away from SA assets. At the closing bell, the All Share was 0.30% in the green.

US flag Icon
United States

US markets opened in the red on Wednesday as investors flocked to gold and US government bonds, worried that the escalating trade war between the US and China could dent global growth. At 19h20, the S&P 500 was 0.60% lower.

EU flag Icon
Europe

Despite concerns around the US-Sino trade spat, European indices rose on Wednesday, lifted by a multi-billion dollar German chemical deal. The STOXX 600 closed 0.24% higher.

HK flag Icon
Hong Kong

Hong Kong indices ended their losing streak on Wednesday thanks to gains in the materials and industrials sectors. The Hang Seng ended the day 0.08% up.

Japan flag Icon
Japan

On Wednesday, investors continued risk-off trade in fear of a global currency war; however, positive US corporate results curbed the Nikkei’s losses. At the closing bell, the Japanese index had lost 0.33%.

Rand Icon
Rand

The local currency had a miserable Wednesday, reaching its lowest point in about 12 months, as investors digested Moody’s comments regarding Eskom’s weak financial situation. At 19h20, the rand traded R15.07 against the dollar.

Precious metals Icon
Precious metals

Bullion prices continued their climb on Wednesday, reaching a record six-year high, as investors tried to hedge against the trade-war fallout. At 19h20, an ounce of spot gold traded at $1 504.44.

Oil Icon
Oil

Oil prices faced another dismal day, plummeting about 5% on Wednesday, due to an unexpected rise in US stockpiles and concerns that the trade war between China and the US could lead to lower crude demands. At 19h20, Brent crude was trading at $56.46 per barrel.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 55 225.32 0.30 - 4.04 - 4.55 4.15 - 1.08
Gold mining 2 502.35 4.45 30.13 76.23 72.55 137.72
Basic minerals 31 360.52 0.53 - 4.55 - 2.58 5.77 12.13
Industrial index 77 151.09 0.62 - 1.46 - 1.76 10.45 - 3.92
Financial 37 815.49 - 0.67 - 8.81 - 12.13 - 8.78 - 7.53
Fin + Ind 30 7 480.40 0.21 - 3.86 - 5.23 3.63 - 5.05
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) 26 007.07 - 0.09 - 3.32 0.80 4.48 3.89
S&P 500 PR (USD) 2 883.98 0.08 - 3.44 0.52 7.64 2.95
NASDAQ (USD) 7 862.83 0.38 - 3.62 - 0.99 8.48 0.84
FT-100 (GBP) 7 198.70 0.38 - 4.64 0.04 4.05 - 2.59
Hang Seng (HKD) 25 997.03 0.08 - 9.65 - 9.62 - 4.81 - 4.68
Nikkei 225 (JPY) 20 516.56 - 0.33 - 5.65 - 6.19 - 0.02 - 7.52
MSCI World (USD) 6 149.85 0.23 - 4.08 - 12.13 5.49 - 0.50
Frankfurt (EUR) 5 201.03 0.71 - 7.31 - 3.66 5.70 - 7.89
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 487.65 1.76 5.18 16.10 13.86 22.40
Platinum ($) 854.00 - 0.12 2.64 - 2.62 6.09 2.40
Brent Oil ($) 56.23 - 4.60 - 12.46 - 19.53 - 8.76 - 24.68
Rand/USD 14.99 -0.07 -5.54 -4.56 -10.10 -12.67
Rand/GBP 18.23 -0.08 -2.61 2.25 -3.60 -5.78
Rand/EUR 16.80 -0.04 -5.48 -4.38 -9.04 -8.65
ALBI (R) 676.29 0.00 - 0.97 2.29 3.98 8.82
  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. Gold Production YoY JUN
  2. Mining Production JUN
  3. Manufacturing Production JUN
  1. CN: Inflation Rate JUL (03h30 Friday)
  2. JP: GDP Growth Rate QoQ Prel Q2 (01h50 Friday)

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 3.93 8.08 8.02 8.08 7.95 7.62
PSG Wealth Income FoF D 3.91 7.85 7.68 7.98 8.07 8.07
PSG Wealth Preserver FoF D 2.80 3.68 4.45 5.46 5.76 6.66
PSG Wealth Moderate FoF D 1.89 0.17 2.25 4.14 4.41 5.61
PSG Wealth Creator FoF D - 1.05 - 3.51 - 0.30 2.53 2.26 2.97
PSG Wealth Global Moderate FF D 12.73 10.06 7.06 7.14 6.14 8.47
PSG Wealth Global Creator FF D 18.33 14.43 13.61 13.76 11.71 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 2.03 - 0.66 1.37 4.11 2.12 1.69
PSG Wealth Global Creator FoF D 5.55 2.18 6.98 10.03 7.10 7.09
PSG Wealth Global Preserver FoF (USD) D 2.63 3.20 2.09 3.42 4.12 3.08
PSG Wealth Global Flexible FoF (USD) D 2.67 1.79 5.28 8.66 7.38 5.66
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 7.51 7.60 4.78 5.47 8.70 7.64
PSG Wealth Global Flexible FoF (GBP) D 9.41 8.55 8.51 10.93 12.40 11.91
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.57 7.30 7.34 7.45 7.32 7.13
PSG Income A 4.01 8.24 8.25 8.38 8.23 7.89
PSG Diversified Income 2.98 6.13 7.01 7.55 7.64 7.63
PSG Stable A - 2.13 - 1.32 2.83 4.61 5.03 5.95
PSG Balanced A - 6.60 - 8.59 - 1.58 2.32 2.86 4.77
PSG Flexible A - 6.36 - 7.48 - 1.26 2.87 3.78 5.57
PSG SA Equity D - 14.73 - 17.38 - 8.63 - 2.42 - -
PSG Equity A - 11.03 - 13.71 - 5.46 0.69 0.83 2.04
PSG Global Flexible FF A - 0.86 - 3.70 0.29 5.21 4.41 -
PSG Global Equity FF A - 2.97 - 6.56 - 0.07 5.71 4.22 6.21
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 10.21 - 13.00 - 4.95 2.31 0.80 0.42
PSG Global Equity USD - 11.83 - 15.22 - 5.23 2.86 0.63 0.04
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 3.34 6.87 7.20 7.48 7.42 7.22
PSG Direct Low Equity - 2.45 - 2.10 2.13 4.16 4.56 5.53
PSG Direct Managed - 6.75 - 8.73 - 1.95 1.99 2.62 4.50
PSG Direct Aggressive - 6.74 - 8.80 - 2.43 2.40 2.81 -
PSG Direct Global Managed - 1.09 - 4.14 - 0.16 4.74 3.94 -
PSG Direct Global Aggressive - 2.41 - 5.93 - 0.38 5.05 3.83 -
  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 -6.14 -9.62 -2.43 0.81 - -
PSG Wealth SA Property Equity Portfolio -12.93 -12.20 -10.04 -5.53 - -
PSG Wealth SA Dividend Income Equity Portfolio -8.85 -11.31 -0.72 1.30 - -
PSG Wealth Offshore Equity Portfolio (USD) 5.22 4.77 9.61 12.05 - -
PSG Wealth Managed Volatility Equity Portfolio -9.22 -15.15 -6.44 -4.30 - -
  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 HMN SJ is underweight; click here to read the full report on our secure site.
  • Hammerson’s direct property portfolio is not diversified across sectors as the portfolio consists of retail assets only. However, it is diversified geographically with flagship destinations in the UK, France and Ireland.
  • The group’s dividend yield is trading above its long-term average and is well above the yield offered by its peers.


company logo

Highlights

  • Our recommendation for ITU SJ is underweight; click here to read the full report on our secure site.
  • Intu’s direct property portfolio is undiversified across sectors as the portfolio consists of retail assets only and, geographically, the majority of the portfolio is held in the UK.
  • In 2018, the demand for prime shopping centres has significantly fallen due to the uncertainty of Brexit, the structural change in retail and the higher-than-normal level of administrations, and company-voluntary arrangements.


company logo

Highlights

  • Our recommendation for MND SJ is overweight; click here to read the full report on our secure site.
  • Mondi has shown robust operating performance and strong cost control.
  • Although macroeconomic uncertainties remain due to Brexit and the stability of the Eurozone, the group is focused on delivering accretive growth through its strong brand and good structural growth drivers.


Corporate actions

Date Company Share code Expectation
14 August 2019 Adcorp Holdings Limited ADR Cash Dividend
14 August 2019 Anglo American Plc AGL DRIP
Option 1 - (Cash Dividend) Gross - ZAR8.61409Less 20% SA Tax - ZAR1.72282Net - ZAR6.89127
Option 2 (Reinvestment)Reinvestment Price - To be announced
Default - Option 1 (Cash)
14 August 2019 Anglo American Plc Turbo Share Instalment AGLSTA Cash Dividend
14 August 2019 Anglo American Plc Turbo Share Instalment AGLSTN Cash Dividend
14 August 2019 Investec Bank (Mauritius) Limited IMRP7 Cash Dividend
14 August 2019 Kumba Iron Ore Limited KIO Cash Dividend
14 August 2019 Kumba Iron Ore Limited Turbo Share Instalment KIOSTO Cash Dividend
14 August 2019 Mondi Plc MNP DRIP
Option 1 - (Cash Dividend) Gross - ZAR4.3503252Less 20% SA Tax - ZAR0.870065Net - ZAR3.4802602
Option 2 (Reinvestment)Reinvestment Price - To be announced
Default - Option 1 (Cash)
14 August 2019 Ecsponent Limited Class A Preference Share ECSP1 Cash Dividend
14 August 2019 Ecsponent Limited Class A Preference Share ECSP10 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP12 Cash Dividend
14 August 2019 Ecsponent Limited Class A Preference Share ECSP13 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP15 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP18 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP21 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP24 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP3 Cash Dividend
14 August 2019 Ecsponent Limited Class A Preference Share ECSP4 Cash Dividend
14 August 2019 Ecsponent Limited Class C Preference Share ECSP6 Cash Dividend
14 August 2019 Ecsponent Limited Class A Preference Share ECSP7 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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