Record number of SA fund managers say bonds are ‘undervalued’
SA fund managers still think a recession in 2023 is likely, but they expect the rand to recover to about R17.53/$ over the next 12 months
27 June 2023 - 10:25
A record number of SA fund managers say bonds are undervalued based on the latest sector survey by Bank of America (BofA) securities.
No less than 94% of the 18 SA-based fund managers surveyed between June 2 and 8 said they felt SA fixed-income securities were undervalued, the highest proportion in 10 years of asking this question in the survey, with a further 72% saying the same about local equities. BofA said this was supportive of higher bond and equity returns over the next 12 months or more. ..
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