South African Property had a spectacular month returning 8.6% followed by SA equity which posted a very respectable return of 5.3%. The JSE was primarily driven by sharp gains in resource counters, these were supported by impressive financial results and the tailwinds of global commodity prices. The rand was essentially flat over the month, ending at R15.07/$. Although this hides a significant strengthening (and subsequent weakening) to R14.44/$ in the middle of the month. The SA 10-year bond yield increased from around 8.75% to 9.10%. Domestic bonds continue to provide attractive real yields, which are particularly appealing to foreign investors in a low global yield environment.

Source: PortfolioMetrix

SA PROFILE PERFORMANCE