Offshore investing: betting on the US
Fund manager Foord has upped its US equity exposure to 55% from 45% a year ago. But it’s far less bullish on the rand
Foord Asset Management is taking a somewhat contrarian view of investing in US equity markets — and still sees pockets of value outside the big tech counters.
However, the Cape Town-based fund manager, which oversees about R120bn in assets, is decidedly less sanguine about long-term prospects for the rand, despite the currency’s recent dip below the R14/$ mark...