Monthly Report | September ’22
Introduction
Global equities were down -9.5% for September, with US equities down -9.4% and ex-US equities down -9.6%. Growth stocks, more sensitive to the rising bond yields, lost -10.2% while Value stocks lost -8.8%. All sectors recorded negative returns with IT and Real Estate down the most. Emerging market equities fared even worse and was down -11.9% with Chinese equities down -14.7%. South African equities did relatively better and was down -5% helped by Resources which was up 1.3% over the month while Banks lost -7.1%. Global bonds lost -5.1% while credit spreads widened. South Africa government bonds were down -2.1%.
Previous Reports
Quarterly Report | Q1 ’25
The South African Reserve Bank (SARB) decreased interest rates by 25 basis points at the January Monetary Policy Committee (MPC) meeting.
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