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Rand recorded its best week in months

09 September 2019

Rand recorded its best week in months

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Market commentary

SA flag Icon
South Africa

The local market ended the week in the green, having gained 0.60% in the past week on the back of US-China trade optimism. The JSE All Share closed up 0.21% at 55 591.09 points.

US flag Icon
United States

US indices opened higher on Friday, lifted by weak non-farm payroll data (raising US rate cut expectations) as well as China’s stimulus plan for its weakening economy. Shortly after the JSE closed, the Dow had gained 1.30% and stood at 26 808.53 points.

EU flag Icon
Europe

European markets closed Friday slightly higher as weak German and US economic data were offset by optimistic investor sentiment around China’s plan to boost bank lending. The STOXX 600 closed 0.32% up.

HK flag Icon
Hong Kong

On Friday, Asian shares reported their biggest weekly gains since June as China’s cabinet announced that they would implement ”both broad and targeted cuts in the reserve requirement ratio (RRR) for banks in a timely manner.” At the closing bell, the Hang Seng was 0.71% in the green at 26 690.76 points.

Japan flag Icon
Japan

Upbeat US data, the scheduling for the US-Sino trade negotiations and a weak yen increased risk-on trade in Japan on Friday. The benchmark Nikkei ended up 0.54%.

Rand Icon
Rand

The local currency recorded the best weekly performance in about three months on Friday due to positive economic releases and optimistic trade war reports. At 17h45, a dollar traded at R14.75.

Precious metals Icon
Precious metals

Bullion prices lost its footing slightly on Friday as it fell by 1%; this after upbeat comments from Federal Reserve Chair Jerome Powell offset worse-than-expected US non-farm payrolls. At 17h45, an ounce of gold $1 520.81.

Oil Icon
Oil

Oil prices rose on Friday after Powell said that “the central bank will act, as appropriate, to sustain an economic expansion in the world’s biggest economy that has been pressured by uncertainty over global trade.” At 17h45, Brent crude traded at $61.20 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 55 591.09 0.21 1.60 - 1.79 1.14 0.66
Gold mining 2 403.59 - 2.03 0.49 32.67 57.16 135.56
Basic minerals 31 060.37 - 0.49 1.61 - 2.21 - 0.94 6.95
Industrial index 77 579.32 0.21 1.30 0.19 5.26 0.31
Financial 38 855.16 0.97 2.23 - 5.39 - 4.69 - 4.77
Fin + Ind 30 7 572.80 0.45 1.59 - 1.64 1.90 - 1.35
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) 26 797.46 0.26 3.38 4.84 5.72 5.56
S&P 500 PR (USD) 2 978.71 0.09 3.61 5.27 8.58 5.62
NASDAQ (USD) 8 103.07 - 0.17 3.59 6.68 8.56 3.41
FT-100 (GBP) 7 282.34 0.15 2.68 1.69 4.15 4.13
Hang Seng (HKD) 26 690.76 0.71 3.32 0.38 - 5.52 2.47
Nikkei 225 (JPY) 21 199.57 0.54 3.06 2.37 - 0.73 - 3.69
MSCI World (USD) 6 352.67 0.22 3.54 - 5.39 6.06 3.66
Frankfurt (EUR) 5 440.35 0.54 5.39 2.00 5.21 1.98
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 542.60 0.25 5.84 15.31 20.05 29.12
Platinum ($) 940.00 - 4.28 9.94 16.48 13.12 18.99
Brent Oil ($) 60.95 0.41 1.91 0.53 - 7.46 - 21.12
Rand/USD 14.79 0.53 1.28 - 0.07 - 2.84 3.57
Rand/GBP 18.16 0.94 0.36 3.14 3.56 8.45
Rand/EUR 16.32 0.59 2.88 2.49 - 0.49 8.53
ALBI (R) 689.36 0.02 2.05 4.14 5.58 13.36
  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. No economic data scheduled for release.
  1. DE: Balance of trade JUL
  2. UK: Balance of trade JUL
  3. CN: Inflation rate AUG (Tuesday at 03h30)

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 3.97 8.06 7.98 8.07 7.97 7.70
PSG Wealth Income FoF D 4.00 7.47 7.69 7.95 8.13 8.09
PSG Wealth Preserver FoF D 1.54 0.85 4.62 4.92 5.97 6.47
PSG Wealth Moderate FoF D 0.08 - 3.51 2.73 3.57 5.13 5.50
PSG Wealth Creator FoF D - 2.80 - 5.97 0.20 2.01 3.92 3.00
PSG Wealth Global Moderate FF D 6.95 - 3.00 9.43 5.43 6.20 8.46
PSG Wealth Global Creator FF D 9.62 - 1.26 15.88 11.66 12.01 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 2.82 1.97 2.30 4.36 4.40 1.68
PSG Wealth Global Creator FoF D 6.23 4.75 8.56 10.63 10.27 7.09
PSG Wealth Global Preserver FoF (USD) D 2.87 4.70 2.37 3.62 5.36 3.07
PSG Wealth Global Flexible FoF (USD) D 3.09 4.16 6.48 9.19 9.74 5.91
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 7.98 7.81 4.51 5.42 9.39 7.06
PSG Wealth Global Flexible FoF (GBP) D 9.93 8.22 8.46 10.81 14.24 11.32
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.63 7.31 7.33 7.44 7.33 7.15
PSG Income A 4.10 8.54 8.12 8.43 8.27 7.91
PSG Diversified Income 3.28 6.25 7.04 7.57 7.73 7.66
PSG Stable A - 3.11 - 3.54 2.35 3.95 5.14 5.70
PSG Balanced A - 8.21 - 13.10 - 2.54 1.10 3.08 4.30
PSG Flexible A - 7.64 - 11.75 - 1.62 1.90 4.22 5.39
PSG SA Equity D - 14.76 - 19.82 - 10.68 - 3.38 - -
PSG Equity A - 12.86 - 19.06 - 6.42 - 0.45 1.59 1.64
PSG Global Flexible FF A - 8.05 - 17.22 1.03 1.70 4.21 -
PSG Global Equity FF A - 10.46 - 20.01 0.45 1.88 4.44 5.49
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 10.90 - 12.06 - 4.74 1.35 3.38 0.11
PSG Global Equity USD - 12.61 - 14.42 - 4.87 1.78 3.77 - 0.39
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 3.50 7.07 7.15 7.51 7.48 7.25
PSG Direct Low Equity - 3.35 - 4.48 1.63 3.50 4.69 5.28
PSG Direct Managed - 8.28 - 13.16 - 2.75 0.85 2.89 4.10
PSG Direct Aggressive - 9.40 - 15.33 - 2.74 0.86 3.20 -
PSG Direct Global Managed - 8.27 - 17.60 0.57 1.24 3.73 -
PSG Direct Global Aggressive - 9.78 - 19.35 0.21 1.36 3.89 -
  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 - 7.51 - 10.68 - 2.97 - 0.26 3.39 -
PSG Wealth SA Property Equity Portfolio - 10.69 - 14.08 - 9.98 - 5.91 - -
PSG Wealth SA Dividend Income Equity Portfolio - 7.77 - 11.09 - 1.24 1.87 - -
PSG Wealth Offshore Equity Portfolio (USD) 5.68 7.47 11.35 12.88 13.17 -
PSG Wealth Managed Volatility Equity Portfolio - 10.62 - 17.92 - 7.20 - 5.05 - -
  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

company logo

Highlights

  • Our recommendation for NKE US is underweight; click here to read the full report on our secure site.
  • NIKE is a quality retailer, which continuously exhibits broad-based and strong top-line growth.
  • NIKE is a well-run company with a growing market share in a structural growth market and plans to enhance margins even further. We do, however, feel that these attractive growth prospects are fully reflected in the current valuation.


company logo

Highlights

  • Our recommendation for ATT SJ is overweight; click here to read the full report on our secure site.
  • Attacq's direct property portfolio is diversified across sectors.
  • While domestic property fundamentals are under pressure, we believe the share is undervalued, trading at a 44% discount to its NAV of 2 365.80 cents per share, with risks mentioned in our report reflected in the price.


company logo

Highlights

  • Our recommendation for AVI SJ is neutral; click here to read the full report on our secure site.
  • AVI is a high-quality food producer with a strong balance sheet and sound cash generation.
  • Earnings and operating margins have come under pressure lately due to sales volume weakness due to constrained consumer spending and consumers trading down on premium products.


Corporate actions

Date Company Share code Expectation
11 September 2019 ABSA Group Limited ABG Cash Dividend
11 September 2019 ABSA Bank Non-Cumulative Non-Redeemable Preference Shares ABSP Cash Dividend
11 September 2019 Cartrack Holdings Limited CTK Tender Offer
11 September 2019 Distell Group Holdings Limited DGH Cash Dividend
11 September 2019 Ecsponent Ltd Class G Preference Shares ECSG4 Cash Dividend
11 September 2019 Grindrod Limited GND Cash Dividend
11 September 2019 Grindrod Limited Cumulative Non-Redeemable Non-Participating Non-Convertible Preference Shares GNDP Cash Dividend
11 September 2019 Italtile Limited ITE Cash Dividend
11 September 2019 Italtile Limited ITE Special Cash Dividend
11 September 2019 Nedbank Group Limited NED Cash Dividend
11 September 2019 Naspers Limited NPN Cash Dividend
11 September 2019 Naspers Limited NPN Capitalisation Issue
11 September 2019 Novus Holdings Limited NVS Cash Dividend
11 September 2019 Royal Bafokeng Platinum Limited RBPCB Interest Payment
11 September 2019 Sout32 Limited S32 Cash Dividend
11 September 2019 Standard Bank Group Limited SBK Cash Dividend
11 September 2019 Tradehold Limited Cumulative Redeemable "B" Preference Shares TDHBP Cash Dividend
11 September 2019 Transpaco Limited TPC Cash Dividend
11 September 2019 Truworths International Limited TRU 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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