The rand continued to strengthen in December as South Africa (SA) benefitted from the risk-on environment and emerging market (EM) appetite by global investors. SA property was once again the strongest performing asset class with a 13.7% return for the month (+17.5% in November). The strengthening local currency depressed rand returns for global asset classes, despite reasonable returns in US dollars for the month. SA equity continued its rally led by resources once again with the sector meaningfully outperforming in 2020.

Source: PortfolioMetrix

SA PROFILE PERFORMANCE