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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.