September saw the spillover of global risks into South African asset classes with local bonds selling off and the rand weakening over the month. SA bonds showed their riskiness underperforming local equities as foreign investors shunned the fixed income market. Despite a weakening rand, global property was the worst performing asset class and global bonds was the best performing asset class in rands. Diving deeper into the local equity market, resources significantly underperformed, falling 9% for the month with the financials sector up 2%. Small caps continued to outperform despite the riskier environment.

Source: PortfolioMetrix

SA PROFILE PERFORMANCE