Some hope after month of drama on JSE
Positive outlook for investors and savers
The last month of the year began with the dramatic fall in the price of one of the largest shares on the JSE, and potentially more volatility with the ANC's national conference. But barring market-wide shocks, the year is likely to end on a positive note for many investors and retirement savers. In the second week of the month Steinhoff International shares plummeted 80%, with estimates that the company's actions resulted in losses of more than R200-billion for investors on the JSE and more than R10-billion for retirement funds. Most unit trust investors and retirement savers had relatively low exposures to the share, which regained some ground this week, leaving most investors set to end the year better off than they began it. Despite these losses, Morningstar reported that South African general equity funds had an average year-to-date return of 8.53%, according to data to December 13, while the multi-asset, high-equity funds - where the bulk of local retail retirement fund money i...
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