Investment Review – January 2024

Market Indicators

  • JSE All Share (ALSI) 74,555.87
  • Rand/Euro R 20.25
  • Rand/Pound R 23.75
  • Rand/US Dollar R 18.65
  • Rand/Aus Dollar R 12.31

There is Always The Next Big Thing

Every December, financial journalists sharpen their pencils and write about the biggest themes that will drive market returns over the next year. Indeed, thinking about and rationalising investment markets through a set of themes is a powerful way to convey some very succinct messages. For instance, the theme that the internet would change the world was one that found favour with a large number of investors leading up to the turn of the millennia. Globalisation and the idea of an interconnected economy is another theme that has been relatively popular in financial market discourse for decades.

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The Allan Gray-Orbis Global Equity Feeder Fund remains fully invested in global equities. The objective of the Fund is to outperform the FTSE World Index at no greater-than average risk of loss in its sector.