Investment Review – June 2025

Market Indicators

  • JSE All Share (ALSI) 96,429.74
  • Rand/Euro R 20.85
  • Rand/Pound R 24.31
  • Rand/US Dollar R 17.71
  • Rand/Aus Dollar R 11.64

Why Markets Feel More Crowded than Ever

US equity markets are seeing record trading volumes and growing unpredictability. New participants are reshaping market behaviour, and short-term reactions often dominate headlines and prices. In this environment, it’s easy to feel as though the rules of investing have changed.

Yet while the market may be noisier, the principles of long-term investing remain as relevant as ever. This month’s article explores how the rise of short-term trading has altered the landscape and why staying focused on fundamentals, patience, and quality may be more powerful than ever.

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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.