JSE kicks off week on a high

Market commentary

	South Africa The JSE closed in the green on Monday following an excellent performance by the mining sector, offsetting the impact of Naspers’ decline. Shortly after the closing bell, the All Share was up 0.25%.
	United States Stock futures in the US took a knock on Monday as investors anticipated a hefty interest rate cut by the Federal Reserve (Fed) later this month, after the release of a strong jobs report for June. At 18h30, the Dow was trading 0.13% in the red.
	Europe While multinational airline company IAG dropped in share price on talks of a looming fine for data theft, the FTSE 100 Index traded lower on Monday as markets remained subdued ahead of a widely anticipated rate cut by the Fed. At 18h50, the FTSE 100 had lost 0.05%.
	Hong Kong Posting its sharpest daily decline in four weeks, the Hang Seng tracked a global selloff in equities on Monday after the release of solid American jobs data forced investors to re-evaluate their bets on the Fed’s next move. At 19h00, the Hang Seng was down 1.77%.
	Japan Japan’s Nikkei was trapped in a downward spiral on Monday after a strong US non-farm payroll showing offset market forecasts for hefty rate cuts later this month. At the closing bell, the Nikkei lost 0.97%.
	Rand The rand maintained an upper hand against major global currencies on Monday as investors closely watched for signs of interest rate cuts by the Fed. At 19h15, the rand traded at R14.13 against the dollar.
	Precious metals Gold prices surged on Monday, rising above $1 400 an ounce as investor focus gravitated towards global growth concerns and interest rate cuts by major central banks. At 19h30, spot gold was up trading at $1 400.01 an ounce.
	Oil Tensions over Iran’s nuclear programme lifted oil prices above $65.20 a barrel on Monday, but gains were slightly trimmed by concerns over slowing global economic growth and the effect thereof on oil demand. At 19h35, a barrel of Brent crude was trading at $65.22.

Market indicators

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

^{Source: Reuters, Business Day, Trading Economics}

PSG Product Matrix

Fund matrix

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

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

Corporate actions

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.