There was very big money in town this week, with as many as five investment banks doing the rounds with visiting groups of foreign investors.

’Tis the season for these visits. The budget has come and gone so the Treasury is in a position to talk; the next monetary policy committee meeting is still a couple of weeks ahead so the Reserve Bank is free to talk; there’s the Bank of America Merrill Lynch annual investor conference at Sun City; and most important, SA’s sunshine offers respite to fund managers tiring of the northern hemisphere winter...

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