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MyMoney Online

Take as much as you can out of South Africa, now! – wealth manager

1 November 2019 1:24 PM
After a "calamitous” mini-budget, Austen Morris Associates does not see a single reason to invest any discretionary funds in SA.

Over 25 years, the JSE earned you twice as much as the S&P 500 (500 largest listed companies in the US) … The story falls apart when you look at the JSE over the last five years…

Bruce Whitfield, The Money Show

The only investments worth having in South Africa is your house and your pension, according to asset manager Austen Morris Associates.

Everything else, they say, should go into global equities, especially US shares.

… a calamitous mini-budget… We are therefore advising people to invest as much of their money as they can elsewhere in the world. We do not see a single reason why people should keep any discretionary investable funds in the country…

Ian Edwards, partner - Austen Morris Associates

The Money Show’s Bruce Whitfield interviewed Nick Pitro, a Senior Consultant at Austen Morris Associates.

Listen to the interview in the audio below.

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1 November 2019 1:24 PM

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