ANDREW LAPPING: Why local is lekker again
Global asset valuations — both equity and fixed interest — look less appealing than those of SA assets
30 January 2020 - 05:00
The SA equity market returned 12% in 2019, after being saved at the death by December’s 3.3% return. Still, this pales in comparison to the 28% return generated by the MSCI world index last year.
Disappointingly, the Allan Gray funds — including Orbis — didn’t take full advantage of strong offshore equity markets. Looking at the Balanced Fund, which returned 6.7% for the year, the underperformance came in two areas...
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