SA-focused equities face even more trouble ahead
SA asset managers are seeking defensive stocks amid a slowing global economy as well as few signs of a turnaround for domestic conditions
21 August 2019 - 17:19
SA asset managers are piling into defensively focused JSE counters with low debt levels and strong cash generation abilities, amid a deteriorating global environment and few signs of a domestic turnaround anytime soon.
The prospects of locally focused stocks has faded along with the optimism that accompanied Cyril Ramaphosa's elevation to the presidency, putting established brands with foreign earnings and deep pockets firmly in favour, fund managers told the seventh GIB Investment Summit in Johannesburg on Wednesday...
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