Whilst developed equity markets, measured by the MSCI World Index, rose 1.8% in October, the R/$ exchange rate weakened by 4.2%. The result has been a positive double-whammy, in Rand terms, for offshore exposure in our client’s portfolios.
Commentators cautioning that the US stock market is over-valued, and that its 9-year bull-run is ending, have increased noticeably in the past few months. Using various measures, it does indeed appear to be expensive relative to historical valuations. However, it continues to rise, once again reaching new highs in October, ending the month up 2.3%.
By investing in Corporate Cash Manager Call Money Fund, you receive a market related interest rate based on the average of the top four qualifying South African money market unit trust funds on a daily basis.
This is because Investec Cash Investments researches the market to ensure that you attract the highest possible average rate on a daily basis.