As the year draws to a close and the promise of sun, sand and sea inches closer, I am inspired by the 100-odd species of migratory birds that return to South Africa at the onset of summer. Travelling almost 15 000 kilometres, these migratory birds must show determination and strength, as well as a commitment to vision, in undertaking the gruelling journey, which they do to ensure the sustainability of their lineage. While navigating threats to their survival, like climate change, they must have faith that the journey will be worth it.
Two of our global funds have delivered top quartile performance over most investment periods since inception, namely the Old Mutual Global Equity Fund and Old Mutual MSCI World ESG Index Feeder Fund. All multi-asset funds managed by Old Mutual Investment Group have shown above-median performance over the three-year period, with Old Mutual Maximum Return Fund being top quartile. The Aggressive Balanced Fund of Funds, Balanced Fund of Funds and Maximum Return Fund of Funds managed by Old Mutual Multi-Managers have achieved above-median performance over the three-year period.
The economy continues to deliver surprises. We delve into at least two key themes to look out for in the new year. Firstly, the great post-Covid global interest rate hiking cycle is finally coming to an end and central banks can cautiously start withdrawing interest rate increases. Secondly, there will be some important elections around the globe in 2024 which may have significant economic and geopolitical implications.
The five-year anniversary of two of Old Mutual's trailblazing ESG-focused index tracker funds is a compelling demonstration that investors can achieve positive environmental and social outcomes without compromising their long-term investment returns.
There is a misconception that Shari'ah investing is exclusively for Muslim investors. This couldn't be further from the truth. In fact, investing in any of the four Shari’ah unit trust funds offered by Old Mutual Investment Group can yield two significant benefits for investors, irrespective of their religious background. These include portfolio diversification and an opportunity to positively impact environmental and social outcomes.
National Treasury has introduced the two-pot retirement system draft legislation, currently scheduled to take effect next year. This reform is designed to encourage preservation of your retirement savings while allowing you access to a portion of your contribution annually in the event of an emergency.
Global real rates marched to new heights in October and global nominal bond yields followed suit. Despite the unfavourable global backdrop and domestic fiscal strain, domestic nominal yields retreated in the month. Domestic inflation, at both a consumer and producer level, troughed in the third quarter and has edged up in recent months, largely due to increasing fuel prices and currency weakness on a year-on-year basis. Against this backdrop, the SARB MPC remains decidedly hawkish and unwilling to openly concede that we are at the end of the monetary policy tightening cycle.
With the festive season upon us, we tend to lower our guard when it comes to online safety. However, this is the time to be more vigilant, as cyber criminals are lurking, looking for low-hanging fruit. Here are a few tips to help you stay safe online:
