ALLAN GRAY - Local equity markets shine, but should you chase the rally?
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GUEST – Tim Acker, portfolio manager at Allan Gray
Over the third quarter of this year, the FTSE/JSE All Share Index (ALSI) added to its impressive gains for the year, returning 12.9% and taking its year-to-date return to a remarkable 31.7%. It is seldom that returns from the local equity market rank near the top of global performance tables across multiple time periods, but now is such a time. Over the last five years, the ALSI has generated a US dollar return of 18.3% per annum, ahead of both the S&P 500 and the MSCI World indices.
In light of the developments, Tim Acker, portfolio manager at Allan Gray, joins Kaya Biz to discuss the factors driving the local equity market’s recent outperformance and unpack why cautious long-term investors need to balance taking advantage of the upside with avoiding undue risk.
Over the third quarter of this year, the FTSE/JSE All Share Index (ALSI) added to its impressive gains for the year, returning 12.9% and taking its year-to-date return to a remarkable 31.7%. It is seldom that returns from the local equity market rank near the top of global performance tables across multiple time periods, but now is such a time. Over the last five years, the ALSI has generated a US dollar return of 18.3% per annum, ahead of both the S&P 500 and the MSCI World indices.
In light of the developments, Tim Acker, portfolio manager at Allan Gray, joins Kaya Biz to discuss the factors driving the local equity market’s recent outperformance and unpack why cautious long-term investors need to balance taking advantage of the upside with avoiding undue risk.
