Fund managers across South Africa are currently holding workshops and feedback sessions with financial planners, giving them their perspective of 2018 and their views on 2019.
Here’s what stood out from these sessions, according to Warren Ingram, a personal financial advisor at Galileo Capital:
Individual fund manager views are not that important, said Ingram, but in aggregate, we start to understand the overall pattern, which has been reasonably valuable in the past.
Currently, they are optimistic about future returns from the JSE and expect growth of 12% to 15% per year over the next five years.
SA bonds is still the best asset class for low-risk capital growth; expect about 10% per year.
Fund managers are starting to relax about Donald Trump’s trade war with China; a deal is likely.
South African markets will be messy until after the election, but fund managers expect more good news towards the end of 2019.
Fund managers’ main worry is that the ANC’s internal strife might derail the economy if the Zuma-faction engineers a palace coup.
Trump remains a wild card.
For more detail listen to the interview in the audio below.
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