Stephen Cranston Associate editor

It can’t be fun to get the wooden spoon for the worst-performing equity fund of 2019. But this year PSG Equity managed to lose almost 7% in a market in which the major asset classes gave real returns.

Most of us don’t feel that we are in an equity bull market, as it has been a very narrow market, driven primarily by platinum shares and a few giant rand hedge stocks, such as British American Tobacco and Richemont.

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