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Morningstar SA Managed Portfolios Morningstar Global Managed Portfolios (USD) Market Commentary - SA and Global Market Performance Summary - SA and Global
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From a broader set of investment opportunities to currency diversification, offshore investing can be a key strategy to help preserve and grow clients’ wealth over the long term. Offshore investing could feel overwhelming and as an increasing number of investors inquire about investing offshore, the following article aims to provide an overview to assist both advisers and their clients in these conversations. The end of 2023 is fast approaching and with it, a sigh of relief. It was another volatile year where politics and economics continuously toyed with our emotions. There was little peace amidst the turmoil we witnessed throughout the year, and it’s only natural that some of us are experiencing some level of fatigue. Given the vast amount of change in the financial advice industry over the years, a recent NMG survey advisers asked advisers to rank what trends they are most worried about when it comes to their business. The primary worry for advisers (when viewed from an internal perspective) was technology, followed closely by clients, and then succession planning. I had the privilege to unpack these concerns with Jaco van Tonder from Ninety One and Georgina Smith from INN8 Investment Platform, at the recent Morningstar Investment Conference. Source: Morningstar
On 1 November 2023, Finance Minister Enoch Godongwana delivered the medium-term budget policy statement (MTBPS), providing an update on South Africa’s finances and in particular its progress towards the goals set out at the beginning of the year. All eyes were on Minister Godongwana as he relayed the progress of National Treasury’s budget in the face of a particularly weak local and global environment coupled with weaker commodity prices, which weighed on the budget. The impact of weaker commodity prices on revenue collections and expenditure overruns were the key concerns heading into the MTBPS. Source: Morningstar
Sometimes I find it incredibly difficult to make sense of this crooked world we live in, and I often hear how perplexed investors are as well. The economy feels a little upside down, every headline seems to have a negative tone, markets are selling off, sentiment is low and there is never a dull moment when it comes to politics. It’s hard to try and make sense of it all, and how this utterly confusing world is impacting your investments and life savings today. I want to challenge you today to invert the status quo, and instead of worrying about everything that you don’t know – refocus and remind yourself of things that you do know. I find great joy in reading nuggets of wisdom from some of the greatest investment minds of our time including Howard Marks, Warren Buffett and Morgan Housel and now is a great opportunity to resurface some of those basic investment principles and remind ourselves that regardless of market cycles these principles remain true. Source: Morningstar
Current market sentiment towards SA government bonds is especially negative. Both local and foreign investors are becoming increasingly concerned about the debt hangover effects and higher borrowing costs arising from continued fiscal slippage on an already bloated balance sheet. Ahead of the 2024 National Election, there is also the potential risk of increased populism affecting more disciplined and pragmatic management of government spending. Source: Morningstar
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