The South African (SA) equity market fared slightly better than offshore equities in what has been a difficult month for risk assets globally. Although SA equity outperformed developed markets it underperformed the broader emerging market index driven by underperformance in the resources sector. The best performing asset classes for SA investors were SA cash and bonds as they both provided positive returns. Local bonds performed relatively well in a volatile August as global markets struggled to digest the prospect of further rate hikes. Local and global property were the worst performers with returns of -5.4% and -4.4% (in ZAR) respectively.

PortfolioMetrix – Periodic Performance