Global macro concerns continue to weigh on risk appetites, which has compelled investors to seek companies that return high profits despite macro headwinds. Over the previous year, however, investors continued to show a preference towards yield as opposed to more deep value.
<>stream In EMs, equities recorded a sharp fall with US dollar strength a significant headwind. x�+� � | x�+� � | This defensive posturing has been present notwithstanding the largely pro-cyclical domestic sentiment, e.g. Lump sum investment performances are quoted. The Satrix Balanced Index Fund is Regulation 28 compliant and offers diversified exposure to all the key local and international asset classes. The conundrum, however, has been that during Q2, this Yield signal has been overwhelmed by sector and Rand risk in the portfolio. While Low Risk, and in particular Low Beta, were the best performing factors, the cyclical factors such as Momentum and Growth did not completely roll over and instead only suffered from some mild rotation and profittaking. The Satrix Balanced Index Fund is an open-end fund incorporated in South Africa. The industrial metals index registered a small gain. Transaction Costs are a necessary cost in administering the financial product and impacts financial product returns. %���� Bund 10-year yields fell from 0.5% to 0.3% on safe haven demand and as European data saw further softening. An annual advice fee negotiated is paid via a repurchase of units from the investor.This is the percentage of the value of the financial product that was incurred as expenses relating to the administration of the financial product. This fund is best suited to investors with at least a medium-term investment horizon. 17 0 obj These included a greater dispersion between accelerating US growth and a softening of economic activity elsewhere, escalating trade tensions between the US and China and the formation of a populist coalition government in Italy. The Fund tracks a composite index benchmark, with a long term strategic asset allocation, rebalanced Annualised return is the weighted average compound growth rate over the period measured.All portfolios are managed and monitored by the Satrix investment team, a group of individuals highly skilled in portfolio management, quantitative research, risk management and portfolio solutions. To some extent the unwinding of Momentum has benefited these cyclical value measures in the short term, however, should macro uncertainty continue and deepen, we may see a shift towards more defensive Value or Quality strategies. The Satrix team offers unparalleled experience in efficiently managing index-tracking portfolios. In the US, equities advanced in Q2 with the S&P 500 gaining 3.4% in dollars, with positive earnings momentum and supportive economic data ultimately outshining escalating US-China trade posturing. endobj Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. On a sector level, SA Resources was the best performer returning a solid 19.6% (Q1: -3.8%). Choose a second product below to compare performance with the one you are currently investigating. %PDF-1.3 Worst performing countries were Brazil (-26.4%), Turkey (- 25.7%) and Hungary (-14.4%), while the only countries to post positive returns were Colombia (+6.8%) and Qatar (+3.5%). Collective investments are traded at ruling prices and can engage in borrowing and scrip lending.
Performance is based on NAV to NAV calculations with income reinvestments done on the ex-div date. Our index-based products are low-cost, transparent and simple to understand. In no time at all we had our very own In the US, consumer confidence remained strong and retail sales data suggested a rebound in consumption from a softer Q1.
endobj Also, the expectation that President Ramaphosa will, in one fell swoop, reverse years of maladministration and corruption is unrealistic.Index-tracking funds are great for peace of mind – if you’re concerned about underperforming the market. <>stream Dividend Yield, on the other hand, has experienced mixed fortunes, as the environment tussled between flight to safety and pro-risk. That’s why we need this disclaimer, to tell you that past performance is not necessarily a guide to future performance, and that the value of investments/units/unit trusts may go down as well as up. Additional information of the proposed investment, including brochures, application forms and annual or quarterly reports, can be obtained from the Manager, free of charge.
<> 1 0 obj There were no changes to the Satrix Stable Dividend Index over the prior quarter.There are growing concerns that global businesses may be subject to new regulation and be the target of tariffs if a US-China trade war escalates.
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