Investment Review – May 2024

Market Indicators

  • JSE All Share (ALSI) 76,704.26
  • Rand/Euro R 20.43
  • Rand/Pound R 23.99
  • Rand/US Dollar R 18.84
  • Rand/Aus Dollar R 12.51

Would you like fries with that?

In this month’s commentary, we explore the rising success of Novo Nordisk, a century-old Danish pharmaceutical company that has transformed from an insulin manufacturer into a pioneer in the weight loss industry. Notably, Novo Nordisk is a significant holding in the BNY Mellon Long Term Global Equity Fund, managed by Walter Scott & Partners and is included in our global equity portfolios.

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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.