A less aggressive fiscal consolidation than envisaged in June 2020

By Arthur Kamp, chief economist at Sanlam Investments The National Treasury’s 2020 Medium Term Budget Policy Statement (MTBPS) sketches a bigger increase in the government’s debt trajectory,…

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Millions, Billions, and Trillions – Medium-Term Budget’s figures

Today Finance Minister, Mr Tito Mboweni, delivered the Medium-Term Budget Policy Statement (MTBPS), outlining government’s revenue and expenditure expectations for the forthcoming periods. Upon…

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Events that moved the market l Q3 2020

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September 2020 economic review

For the last five months global markets surged almost uninterruptedly. However during the latter part of September amid second wave fears, we saw global equities lose ground. The increased political…

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Not what you make but what you keep

“It’s not about how much you make – it’s about how much you keep!” Robert Kiyosaki (Rich Dad, Poor Dad) As South Africa endured the end of our 6th month of lockdown (albeit with a move to Level 1)…

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Retirement doesn’t have to be a bumpy ride

Prior to 1880, the practice of retiring from one’s work and living off a pension was quite uncommon – unless you were in the military, where already in Roman times a pension was paid to retired…

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August 2020 economic review

Disconnect between real economies and financial markets Most economies appear to have banked the easy gains from the relaxation of containment measures, but progress will remain slow and output will…

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With record low interest rates, whereto for investors?

Just over a year ago, South Africa’s repo rate – the rate at which the Reserve Bank lends money to our commercial banks – stood at 6.75%. At a record pace it tumbled to its current 3.5%, after the…

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Lockdown: the fourth industrial revolution on turbo boost

For most countries, the pattern was the same. The first case of coronavirus is reported; social distancing is introduced; not long after the entire country is in a hard lockdown, with only…

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Industry report: Fund manager changes Q2 2020

As part of our investment process, our Manager Research Team meticulously screen the full universe of asset managers and their investment strategies, following a quantitative and qualitative…

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