offshore market -usd offshore market -zar · 2020. 8. 6. · local market-zar local equity sectors...
TRANSCRIPT
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
LOCAL MARKET- ZAR LOCAL EQUITY SECTORS – ZAR
OFFSHORE MARKET - USD OFFSHORE MARKET - ZAR
AFRICA INDICES - USD BRICS INDICES - USD
SA Inflation (y-o-y) 6.0%ALSI Level 52,733.12Prime Rate 10.5%Overnight Call 6.96%Gold Price (R/kg) R 613,098.29
Dollar/Rand Exchange Rate R 14.69Euro/Rand Exchange Rate R 16.40British Pound /Rand Exchange Rate R 19.31Brent Crude Oil ($/ Barrel) $ 46.98Gold Price ($/OZ) $ 1,308.79
LOCAL ECONOMIC INDICATORS OFFSHORE ECONOMIC INDICATORS
Current Month Performance SummaryAPRIL 2016
MARKET SUMMARIESJULY 2020
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
TABLE OF CONTENTS
01 02 03 04
05 06
CURRENT MONTH PERFORMANCE
LOCAL MARKET (ZAR)
LOCAL EQUITY MARKET (ZAR)
- By Index- By Sector- By Style- By Market Cap
OFFSHORE MARKET
- In USD- In ZAR
OFFSHORE AFRICAN MARKET
- African Country Indices
- African Indices
OFFSHORE MSCIBRICS INDICES
(USD)
BALANÇOIRE
A French ballet term meaning to step quickly from one direction to another. This is a 'see-saw' movement.
www.grayswan.co.za I 021 852 9092 (CT) I 011 431 0141 (JHB)
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07LOCAL AND OFFSHORE
- Equity Indices (ZAR)- Equity Indices (USD)- Equity Indices (Local
Page 3 Page 4 Page 5-8 Page 9-10
Page 11-12 Page 13 Page 14-16
08CONTACT US
Page 17
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
LOCAL MARKET- ZAR LOCAL EQUITY SECTORS – ZAR
OFFSHORE MARKET - USD OFFSHORE MARKET - ZAR
AFRICA EQUITY INDICES - USD BRICS EQUITY INDICES - USD
SA Inflation (y-o-y) 2.2%ALSI Level 55,721.81Prime Rate 7.00%Overnight Call 3.57%Gold Price (R/kg) R 1,067,450.02
Dollar/Rand Exchange Rate R 17.06Euro/Rand Exchange Rate R 20.11British Pound /Rand Exchange Rate R 22.34Brent Crude Oil ($/ Barrel) $ 43.52Gold Price ($/OZ) $ 1,976.28
LOCAL ECONOMIC INDICATORS OFFSHORE ECONOMIC INDICATORS
Current Month Performance SummaryJuly 2020
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local Market Summary (ZAR)July 2020
*All Share Index
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
RISK COMPARISON (15 years)
SA Inflation SA Money Market SA Inflation Bonds SA Fixed Rate Bonds SA Listed Property SA Equities*
Standard Deviation 1.44% 0.47% 8.26% 7.64% 19.51% 15.36%Upside Deviation 1.36% 0.47% 5.58% 5.33% 10.97% 10.07%
Downside Deviation 0.24% 0.00% 5.17% 4.02% 12.98% 8.08%Worst Month -0.61% 0.39% -17.47% -9.75% -36.57% -13.24%
Worst Peak-to-Trough -1.12% 0.00% -18.55% -9.79% -60.50% -40.45%
CALENDAR YEAR
SA Inflation SA Money Market SA Inflation Bonds SA Fixed Rate Bonds SA Listed Property SA Equities*
2016 6.61% 7.39% 6.27% 15.45% 10.20% 2.63%2017 4.62% 7.54% 2.93% 10.22% 17.15% 20.95%2018 5.18% 7.25% -0.43% 7.69% -25.26% -8.53%2019 3.56% 7.29% 2.25% 10.32% 1.92% 12.05%2020 1.23% 3.62% -3.71% 0.97% -39.55% -0.68%
ABSOLUTE PERFORMANCE
SA Inflation SA Money Market SA Inflation Bonds SA Fixed Rate Bonds SA Listed Property SA Equities*
1 month 0.52% 0.42% -1.67% 0.61% -3.19% 2.56%2 months -0.09% 0.86% -2.07% -0.58% 9.80% 10.50%3 months -0.61% 1.36% -0.61% 6.44% 8.97% 10.83%6 months 0.97% 3.02% -3.73% -0.21% -37.64% 1.03%
1 year 2.22% 6.66% -5.01% 4.25% -41.19% 1.58%2 years 3.34% 6.99% -0.53% 6.14% -23.28% 1.89%3 years 3.75% 7.10% 0.23% 7.79% -20.18% 3.63%4 years 4.08% 7.23% 0.07% 7.63% -14.87% 4.60%5 years 4.51% 7.18% 1.38% 7.40% -10.55% 4.58%
10 years 5.00% 6.46% 5.82% 7.93% 3.67% 10.31%15 years 5.65% 7.28% 7.46% 7.97% 9.05% 12.31%
Source: iress
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local Equity Indices (ZAR)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
RISK COMPARISON (15 years)
CAPI Dividend PlusEqual Weighted
Top 40 RAFI SWIX ALSI
Standard Deviation 15.06% 16.36% 15.66% 16.12% 14.90% 15.36%Upside Deviation 9.85% 10.29% 10.11% 10.23% 9.65% 10.07%
Downside Deviation 7.91% 9.14% 8.40% 8.79% 7.99% 8.08%Worst Month -13.28% -19.97% -16.23% -18.71% -14.15% -13.24%
Worst Peak-to-Trough -38.25% -34.01% -34.53% -35.82% -36.98% -40.45%
CALENDAR YEAR
CAPI Dividend Plus Equal Weighted Top 40
RAFI SWIX ALSI
2016 3.94% 24.70% 1.91% 19.72% 4.13% 2.63%2017 18.06% 27.35% 11.85% 17.41% 21.21% 20.95%2018 -7.67% -1.63% -10.71% -4.00% -11.67% -8.53%2019 10.52% 4.92% 7.09% 9.06% 9.32% 12.05%2020 -2.41% -11.28% -5.96% -12.13% -4.10% -0.68%
ABSOLUTE PERFORMANCE
CAPI Dividend Plus Equal Weighted Top 40
RAFI SWIX ALSI
1 month 2.89% 3.68% 2.74% 1.63% 2.37% 2.56%2 months 10.12% 7.46% 10.38% 8.39% 10.64% 10.50%3 months 10.94% 14.06% 10.24% 9.34% 9.57% 10.83%6 months -0.39% -7.14% -2.37% -9.11% -2.36% 1.03%
1 year 0.02% -11.87% -0.13% -10.34% -1.69% 1.58%2 years 0.53% -2.68% -1.83% -4.55% -1.41% 1.89%3 years 2.60% 4.18% -1.18% 0.48% 0.72% 3.63%4 years 3.50% 4.79% -1.69% 2.55% 1.70% 4.60%5 years 3.89% 4.14% -0.41% 3.18% 2.59% 4.58%
10 years 10.02% 7.41% 7.15% 7.92% 9.99% 10.31%15 years 12.28% 11.84% 10.32% 10.82% 12.11% 12.31%
Source: iress
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local Equity Sector Indices (ZAR)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
Financials Industrials Resources SWIX ALSI
Standard Deviation 17.80% 14.50% 25.11% 14.90% 15.36%Upside Deviation 10.31% 9.44% 15.72% 9.65% 10.07%
Downside Deviation 11.22% 7.56% 13.90% 7.99% 8.08%Worst Month -29.43% -12.44% -21.86% -14.15% -13.24%
Worst Peak-to-Trough -45.31% -31.32% -58.27% -36.98% -40.45%
CALENDAR YEAR
Financials Industrials Resources SWIX ALSI
2016 5.44% -6.55% 34.24% 4.13% 2.63%2017 20.61% 22.50% 17.90% 21.21% 20.95%2018 -8.76% -17.55% 15.55% -11.67% -8.53%2019 0.63% 8.90% 28.53% 9.32% 12.05%2020 -31.41% 5.38% 15.06% -4.10% -0.68%
ABSOLUTE PERFORMANCE
Financials Industrials Resources SWIX ALSI
1 month 0.40% -1.28% 9.04% 2.37% 2.56%2 months 4.58% 6.92% 18.61% 10.64% 10.50%3 months 1.25% 5.04% 25.19% 9.57% 10.83%6 months -27.62% 3.76% 19.21% -2.36% 1.03%
1 year -29.71% 1.46% 29.31% -1.69% 1.58%2 years -18.52% 0.47% 22.74% -1.41% 1.89%3 years -9.92% 0.22% 23.05% 0.72% 3.63%4 years -6.44% 2.09% 19.83% 1.70% 4.60%5 years -5.90% 2.82% 14.41% 2.59% 4.58%
10 years 6.89% 13.49% 5.27% 9.99% 10.31%15 years 8.46% 15.06% 9.09% 12.11% 12.31%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local Equity Style Indices (ZAR)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
Growth Value Top 40 SWIX ALSI
Standard Deviation 16.40% 16.32% 16.25% 14.90% 15.36%Upside Deviation 11.23% 9.99% 10.76% 9.65% 10.07%
Downside Deviation 8.16% 9.40% 8.40% 7.99% 8.08%Worst Month -13.43% -19.02% -14.27% -14.15% -13.24%
Worst Peak-to-Trough -42.74% -39.32% -43.42% -36.98% -40.45%
CALENDAR YEAR
Growth Value Top 40 SWIX ALSI
2016 -3.63% 17.15% -1.60% 4.13% 2.63%2017 25.56% 12.15% 23.07% 21.21% 20.95%2018 -11.51% -4.44% -8.31% -11.67% -8.53%2019 17.87% 6.14% 12.41% 9.32% 12.05%2020 13.85% -16.00% 2.81% -4.10% -0.68%
ABSOLUTE PERFORMANCE
Growth Value Top 40 SWIX ALSI
1 month 4.00% 0.45% 2.43% 2.37% 2.56%2 months 12.77% 7.28% 10.47% 10.64% 10.50%3 months 13.47% 7.15% 10.94% 9.57% 10.83%6 months 14.19% -13.32% 4.31% -2.36% 1.03%
1 year 17.92% -15.18% 4.62% -1.69% 1.58%2 years 10.54% -7.64% 3.38% -1.41% 1.89%3 years 9.20% -2.58% 4.93% 0.72% 3.63%4 years 9.47% -1.23% 6.03% 1.70% 4.60%5 years 9.09% -0.88% 5.13% 2.59% 4.58%
10 years 13.64% 5.68% 10.62% 9.99% 10.31%15 years 14.23% 9.27% 12.32% 12.11% 12.31%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local Equity Market Cap Indices (ZAR)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
Small Caps Mid Caps Large Caps / Top 40 SWIX ALSI
Standard Deviation 14.90% 15.78% 16.25% 14.90% 15.36%Upside Deviation 8.60% 9.20% 10.76% 9.65% 10.07%
Downside Deviation 9.43% 9.80% 8.40% 7.99% 8.08%Worst Month -21.67% -23.66% -14.27% -14.15% -13.24%
Worst Peak-to-Trough -45.59% -35.57% -43.42% -36.98% -40.45%
CALENDAR YEAR
Small Caps Mid Caps Large Caps / Top 40 SWIX ALSI
2016 20.90% 26.89% -1.60% 4.13% 2.63%2017 2.95% 7.36% 23.07% 21.21% 20.95%2018 -14.59% -9.73% -8.31% -11.67% -8.53%2019 -4.10% 15.58% 12.41% 9.32% 12.05%2020 -19.93% -24.40% 2.81% -4.10% -0.68%
ABSOLUTE PERFORMANCE
Small Caps Mid Caps Large Caps / Top 40 SWIX ALSI
1 month 1.29% 1.71% 2.43% 2.37% 2.56%2 months 12.76% 7.87% 10.47% 10.64% 10.50%3 months 9.15% 8.11% 10.94% 9.57% 10.83%6 months -19.36% -21.97% 4.31% -2.36% 1.03%
1 year -22.34% -14.49% 4.62% -1.69% 1.58%2 years -15.86% -6.35% 3.38% -1.41% 1.89%3 years -11.44% -4.43% 4.93% 0.72% 3.63%4 years -8.57% -4.81% 6.03% 1.70% 4.60%5 years -5.49% 0.08% 5.13% 2.59% 4.58%
10 years 6.37% 7.44% 10.62% 9.99% 10.31%15 years 9.65% 11.72% 12.32% 12.11% 12.31%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Offshore (USD)July 2020
*Global Bonds: Barclays Global Aggregate Bond IndexGlobal Equities: MSCI ACWI
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress, GPR & InflationData.com
RISK COMPARISON (15 years)
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities*
Standard Deviation 1.37% 0.49% 5.47% 5.38% 19.55% 15.90%Upside Deviation 0.90% 0.49% 2.69% 3.39% 10.54% 8.92%
Downside Deviation 0.76% 0.00% 3.81% 2.93% 13.43% 10.23%Worst Month -1.92% 0.01% -7.63% -3.97% -27.71% -19.82%
Worst Peak-to-Trough -4.43% 0.00% -22.22% -10.07% -67.29% -54.92%
CALENDAR YEAR
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities*
2016 1.69% 0.51% 0.49% 2.09% 5.29% 7.86%2017 2.20% 1.14% 7.76% 7.40% 10.17% 23.97%2018 2.18% 2.06% -4.02% -1.20% -4.49% -9.42%2019 2.05% 2.20% 8.38% 6.84% 22.57% 26.60%2020 0.23% 0.41% -0.22% 6.27% -18.02% -1.29%
ABSOLUTE PERFORMANCE
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities*
1 month 0.55% 0.01% 1.35% 3.19% 3.03% 5.29%2 months 0.55% 0.03% 3.40% 4.11% 5.71% 8.65%3 months -0.12% 0.04% 5.80% 4.56% 6.35% 13.38%6 months 0.32% 0.28% -0.50% 4.93% -19.15% -0.19%
1 year 0.65% 1.19% 1.60% 7.85% -13.19% 7.20%2 years 1.15% 1.78% 1.40% 6.78% -2.74% 5.05%3 years 1.72% 1.74% 2.37% 4.30% -0.30% 6.99%4 years 1.69% 1.51% 3.26% 2.88% -0.91% 9.42%5 years 1.56% 1.28% 1.73% 4.16% 2.24% 7.37%
10 years 1.69% 0.74% 2.85% 2.79% 6.84% 8.87%15 years 1.90% 1.49% 2.61% 3.82% 4.91% 6.53%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Source: iress, GPR & InflationData.com*Global Bonds: Barclays Global Aggregate Bond IndexGlobal Equities: MSCI ACWI
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Offshore (ZAR)July 2020
RISK COMPARISON (15 years)
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities* ZAR/USD
Standard Deviation 16.51% 16.45% 14.25% 15.00% 16.93% 13.84% 16.41%Upside Deviation 11.63% 11.63% 9.90% 10.66% 10.48% 9.97% 11.46%
Downside Deviation 7.75% 7.67% 6.86% 6.95% 9.70% 6.42% 7.80%Worst Month -11.66% -11.84% -10.95% -11.08% -18.21% -10.77% -11.87%
Worst Peak-to-Trough -33.46% -35.18% -23.94% -24.14% -54.09% -35.06% -35.60%
CALENDAR YEAR
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities* ZAR/USD
2016 -9.96% -11.00% -11.02% -9.61% -6.77% -4.49% -11.46%2017 -7.60% -8.56% -2.57% -2.90% -0.40% 12.09% -9.59%2018 18.49% 18.36% 11.31% 14.58% 10.76% 5.05% 15.97%2019 -0.46% -0.32% 5.71% 4.21% 19.55% 23.48% -2.46%2020 22.14% 22.37% 21.59% 29.50% -0.10% 20.29% 21.86%
ABSOLUTE PERFORMANCE
US Inflation USD Cash Global Hedge FoFs Global Bonds* Global Property Global Equities* ZAR/USD
1 month -1.14% -1.67% -0.35% 1.45% 1.30% 3.52% -1.68%2 months -2.19% -2.70% 0.58% 1.27% 2.82% 5.69% -2.73%3 months -8.02% -7.87% -2.57% -3.70% -2.06% 4.41% -7.91%6 months 14.06% 14.02% 13.13% 19.30% -8.07% 13.48% 13.70%
1 year 19.71% 20.36% 20.85% 28.28% 3.26% 27.51% 18.94%2 years 14.66% 15.39% 14.95% 21.05% 10.26% 19.09% 13.36%3 years 10.87% 10.90% 11.58% 13.69% 8.67% 16.62% 9.00%4 years 7.15% 6.96% 8.80% 8.40% 4.40% 15.29% 5.37%5 years 7.82% 7.53% 8.00% 10.58% 8.54% 13.99% 6.16%
10 years 10.72% 9.69% 11.98% 11.91% 16.32% 18.53% 8.88%15 years 8.61% 8.18% 9.37% 10.66% 11.83% 13.55% 6.59%
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Offshore African Equity Country Indices (USD)July 2020
CUMULATIVE PERFORMANCE (10 years) RISK RETURN COMPARISON (10 years)
Source: iress
RISK COMPARISON (10 years)
Egypt Kenya Mauritius Morocco Nigeria Tunisia EFM Africa ex SA
Frontier Africa
Standard Deviation 29.65% 21.32% 18.24% 16.19% 27.15% 16.01% 17.43% 17.66%Upside Deviation 17.29% 12.89% 8.42% 8.80% 14.58% 10.22% 8.58% 9.30%
Downside Deviation 18.63% 12.02% 13.86% 10.51% 17.69% 8.79% 12.05% 11.83%Worst Month -33.52% -15.47% -37.70% -25.40% -25.78% -10.66% -24.58% -23.69%
Worst Peak-to-Trough -46.86% -41.40% -48.14% -42.88% -75.84% -36.41% -43.50% -44.56%
CALENDAR YEAR
Egypt Kenya Mauritius Morocco Nigeria TunisiaEFM Africa
ex SA Frontier Africa
2016 -11.53% 1.11% 9.15% 34.33% -35.98% 0.07% -7.91% -6.94%2017 5.13% 35.97% 42.13% 11.11% 36.94% 11.56% 22.31% 26.20%2018 -14.00% -12.51% -21.28% -7.46% -14.34% 13.38% -12.95% -12.82%2019 41.75% 48.73% 15.14% 11.00% -16.27% 8.82% 16.65% 10.81%2020 -23.38% -23.85% -38.87% -14.33% -17.46% 5.04% -20.10% -19.07%
ABSOLUTE PERFORMANCE
Egypt Kenya Mauritius Morocco Nigeria TunisiaEFM Africa
ex SA Frontier Africa
1 month -1.82% -4.07% -5.92% 5.17% -0.68% 3.44% -0.03% 0.54%2 months -1.21% -3.88% -5.34% 9.72% -4.39% 10.24% 0.80% 1.45%3 months -4.50% -5.42% 6.84% 14.95% 9.87% 16.29% 4.66% 7.77%6 months -25.75% -22.57% -40.72% -15.99% -20.92% 4.19% -21.61% -20.29%
1 year -11.30% -3.75% -29.36% -10.10% -16.13% 10.41% -11.42% -11.42%2 years -2.61% -5.64% -14.34% -4.29% -22.87% -5.76% -9.34% -10.98%3 years -3.28% 1.78% -13.99% -3.73% -17.85% 9.78% -6.68% -7.62%4 years -6.72% 6.24% -5.22% 2.52% -5.34% 8.65% -0.98% 0.42%5 years -6.28% 6.02% -5.81% 3.66% -12.80% 4.29% -3.38% -2.72%
10 years -2.22% 9.62% -0.49% -1.45% -5.89% 0.75% -1.51% 1.10%15 years 1.64% 8.88% 7.53% 5.34% -1.35% 5.89% 1.79% 3.69%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Offshore African Equity Indices (USD)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
MSCI EFM Africa ex SA
MSCI EFM Africa MSCI Frontier Africa MSCI South Africa MSCI ACWI
Standard Deviation 21.23% 24.54% 23.84% 26.46% 15.90%Upside Deviation 11.52% 14.13% 14.41% 15.56% 8.92%
Downside Deviation 14.19% 14.78% 15.16% 15.54% 10.23%Worst Month -26.23% -26.38% -32.12% -26.18% -19.82%
Worst Peak-to-Trough -62.83% -54.47% -70.39% -54.93% -54.92%
CALENDAR YEAR
JSE All Africa 40JSE All Africa
ex SA 30MSCI EFM Africa
ex SA MSCI EFM AfricaMSCI Frontier
Africa MSCI South Africa MSCI ACWI
2016 -2.39% -9.13% -7.91% 14.82% -6.94% 17.91% 7.86%2017 34.29% 28.95% 22.31% 34.85% 26.20% 36.12% 23.97%2018 -13.38% -9.33% -12.95% -23.71% -12.82% -24.76% -9.42%2019 18.14% 16.47% 16.65% 10.78% 10.81% 10.04% 26.60%2020 -13.92% -18.87% -20.10% -19.66% -19.07% -19.63% -1.29%
ABSOLUTE PERFORMANCE
JSE All Africa 40JSE All Africa
ex SA 30MSCI EFM Africa
ex SA MSCI EFM AfricaMSCI Frontier
Africa MSCI South Africa MSCI ACWI
1 month 1.24% -0.05% -0.03% 5.29% 0.54% 5.96% 5.29%2 months 6.17% 1.09% 0.80% 15.01% 1.45% 16.98% 8.65%3 months 11.50% 5.38% 4.66% 17.55% 7.77% 19.30% 13.38%6 months -12.73% -20.20% -21.61% -13.00% -20.29% -11.85% -0.19%
1 year -7.95% -10.21% -11.42% -17.53% -11.42% -18.27% 7.20%2 years -6.53% -8.56% -9.34% -12.97% -10.98% -13.40% 5.05%3 years -2.16% -4.64% -6.68% -7.61% -7.62% -7.75% 6.99%4 years 3.42% 0.99% -0.98% -3.69% 0.42% -4.02% 9.42%5 years 0.45% -1.80% -3.38% -3.71% -2.72% -3.77% 7.37%
10 years 1.61% -0.01% -1.51% -0.11% 1.10% 0.06% 8.87%15 years 1.79% 3.86% 3.69% 4.40% 6.53%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
*Global Equities: MSCI ACWI
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Source: iress
Offshore BRICS Equity Indices (USD)July 2020
RISK COMPARISON (15 years)
Brazil Russia India China South Africa BRIC Global Equities*
Standard Deviation 34.73% 32.30% 28.57% 25.34% 26.46% 25.07% 15.90%Upside Deviation 21.29% 19.41% 18.06% 15.23% 15.56% 15.42% 8.92%
Downside Deviation 19.95% 19.48% 16.46% 14.86% 15.54% 14.63% 10.23%Worst Month -38.17% -35.28% -28.48% -22.75% -26.18% -29.12% -19.82%
Worst Peak-to-Trough -73.28% -78.21% -68.93% -64.83% -54.93% -64.38% -54.92%
CALENDAR YEAR
Brazil Russia India China South Africa BRIC Global Equities*
2016 66.24% 54.82% -1.43% 0.90% 17.91% 12.12% 7.86%2017 24.11% 5.20% 38.76% 54.07% 36.12% 41.75% 23.97%2018 -0.49% -0.70% -7.30% -18.88% -24.76% -13.43% -9.42%2019 26.30% 51.37% 7.58% 23.46% 10.04% 22.83% 26.60%2020 -30.16% -22.47% -8.33% 13.29% -19.63% 1.34% -1.29%
ABSOLUTE PERFORMANCE
Brazil Russia India China South Africa BRIC Global Equities*
1 month 14.23% 2.63% 10.38% 9.44% 5.96% 9.62% 5.29%2 months 22.68% 0.60% 17.88% 19.27% 16.98% 18.23% 8.65%3 months 33.13% 9.26% 14.60% 18.69% 19.30% 18.78% 13.38%6 months -24.52% -20.05% -7.60% 19.01% -11.85% 6.01% -0.19%
1 year -25.78% -11.01% -3.39% 24.49% -18.27% 10.34% 7.20%2 years -2.58% 4.44% -3.67% 8.83% -13.40% 5.70% 5.05%3 years -1.58% 11.13% -0.77% 8.74% -7.75% 6.38% 6.99%4 years 3.00% 11.53% 4.00% 15.64% -4.02% 11.83% 9.42%5 years 5.79% 10.43% 2.57% 9.71% -3.77% 8.36% 7.37%
10 years -4.02% 1.50% 2.63% 6.88% 0.06% 3.16% 8.87%15 years 5.49% 3.53% 7.58% 11.19% 4.40% 8.16% 6.53%
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local & Offshore Equity Indices (ZAR)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
Standard Deviation 15.36% 14.90% 14.22% 15.22% 13.84% 20.89%Upside Deviation 10.07% 9.65% 10.31% 10.34% 9.97% 13.40%
Downside Deviation 8.08% 7.99% 6.50% 7.67% 6.42% 11.34%Worst Month -13.24% -14.15% -11.21% -13.90% -10.77% -17.69%
Worst Peak-to-Trough -40.45% -36.98% -34.15% -44.33% -35.06% -58.35%
CALENDAR YEAR
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
2016 2.63% 4.13% -4.81% -1.55% -4.49% -18.46%2017 20.95% 21.21% 10.67% 24.12% 12.09% 10.59%2018 -8.53% -11.67% 5.87% -0.94% 5.05% 0.95%2019 12.05% 9.32% 24.53% 15.52% 23.48% 13.78%2020 -0.68% -4.10% 20.33% 19.76% 20.29% -2.63%
ABSOLUTE PERFORMANCE
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
1 month 2.56% 2.37% 3.02% 7.10% 3.52% -1.71%2 months 10.50% 10.64% 4.62% 13.75% 5.69% -1.95%3 months 10.83% 9.57% 3.84% 8.52% 4.41% -3.61%6 months 1.03% -2.36% 12.96% 17.21% 13.48% -10.86%
1 year 1.58% -1.69% 27.55% 26.73% 27.51% 5.36%2 years 1.89% -1.41% 19.50% 15.73% 19.09% 2.77%3 years 3.63% 0.72% 17.20% 12.10% 16.62% 1.71%4 years 4.60% 1.70% 15.49% 13.74% 15.29% 4.33%5 years 4.58% 2.59% 14.15% 12.69% 13.99% 2.58%
10 years 10.31% 9.99% 19.34% 12.50% 18.53% 7.24%15 years 12.31% 12.11% 13.67% 13.48% 13.55% 8.50%
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INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local & Offshore Equity Indices (USD)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
Standard Deviation 25.11% 25.56% 15.51% 21.88% 15.90% 21.23%Upside Deviation 14.82% 14.87% 8.63% 13.11% 8.92% 11.52%
Downside Deviation 14.87% 15.29% 9.99% 13.18% 10.23% 14.19%Worst Month -25.47% -25.70% -18.96% -27.37% -19.82% -26.23%
Worst Peak-to-Trough -60.21% -59.11% -54.03% -61.59% -54.92% -62.83%
CALENDAR YEAR
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
2016 15.91% 17.60% 7.51% 11.19% 7.86% -7.91%2017 33.78% 34.07% 22.40% 37.28% 23.97% 22.31%2018 -21.12% -23.83% -8.71% -14.58% -9.42% -12.95%2019 14.87% 12.08% 27.67% 18.44% 26.60% 16.65%2020 -18.50% -21.31% -1.26% -1.72% -1.29% -20.10%
ABSOLUTE PERFORMANCE
ALSI SWIX MSCI Develop MSCI Emerging MSCI All Country MSCI Africa ex ZA
1 month 4.31% 4.13% 4.78% 8.94% 5.29% -0.03%2 months 13.59% 13.74% 7.56% 16.94% 8.65% 0.80%3 months 20.35% 18.98% 12.75% 17.84% 13.38% 4.66%6 months -11.15% -14.13% -0.66% 3.08% -0.19% -21.61%
1 year -14.60% -17.35% 7.23% 6.55% 7.20% -11.42%2 years -10.12% -13.04% 5.41% 2.09% 5.05% -9.34%3 years -4.93% -7.60% 7.52% 2.84% 6.99% -6.68%4 years -0.72% -3.48% 9.61% 7.95% 9.42% -0.98%5 years -1.49% -3.37% 7.52% 6.15% 7.37% -3.38%
10 years 1.31% 1.02% 9.61% 3.33% 8.87% -1.51%15 years 5.37% 5.17% 6.64% 6.46% 6.53% 1.79%
15
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS
Local & Offshore Equity Indices (Base currency)July 2020
CUMULATIVE PERFORMANCE (15 years) RISK RETURN COMPARISON (15 years)
Source: iress
RISK COMPARISON (15 years)
ALSI (ZAR) SWIX (ZAR) MSCI Develop (USD)
MSCI Emerging (USD)
MSCI All Country (USD)
MSCI Africa ex ZA (USD)
Standard Deviation 15.36% 14.90% 15.51% 21.88% 15.90% 21.23%Upside Deviation 10.07% 9.65% 8.63% 13.11% 8.92% 11.52%
Downside Deviation 8.08% 7.99% 9.99% 13.18% 10.23% 14.19%Worst Month -13.24% -14.15% -18.96% -27.37% -19.82% -26.23%
Worst Peak-to-Trough -40.45% -36.98% -54.03% -61.59% -54.92% -62.83%
CALENDAR YEAR
ALSI (ZAR) SWIX (ZAR)MSCI Develop
(USD)MSCI Emerging
(USD)MSCI All Country
(USD)MSCI Africa ex ZA
(USD)
2016 2.63% 4.13% 7.51% 11.19% 7.86% -7.91%2017 20.95% 21.21% 22.40% 37.28% 23.97% 22.31%2018 -8.53% -11.67% -8.71% -14.58% -9.42% -12.95%2019 12.05% 9.32% 27.67% 18.44% 26.60% 16.65%2020 -0.68% -4.10% -1.26% -1.72% -1.29% -20.10%
ABSOLUTE PERFORMANCE
ALSI (ZAR) SWIX (ZAR)MSCI Develop
(USD)MSCI Emerging
(USD)MSCI All Country
(USD)MSCI Africa ex ZA
(USD)
1 month 2.56% 2.37% 4.78% 8.94% 5.29% -0.03%2 months 10.50% 10.64% 7.56% 16.94% 8.65% 0.80%3 months 10.83% 9.57% 12.75% 17.84% 13.38% 4.66%6 months 1.03% -2.36% -0.66% 3.08% -0.19% -21.61%
1 year 1.58% -1.69% 7.23% 6.55% 7.20% -11.42%2 years 1.89% -1.41% 5.41% 2.09% 5.05% -9.34%3 years 3.63% 0.72% 7.52% 2.84% 6.99% -6.68%4 years 4.60% 1.70% 9.61% 7.95% 9.42% -0.98%5 years 4.58% 2.59% 7.52% 6.15% 7.37% -3.38%
10 years 10.31% 9.99% 9.61% 3.33% 8.87% -1.51%15 years 12.31% 12.11% 6.64% 6.46% 6.53% 1.79%
16
INVESTMENT CONSULTING I WEALTH MANAGEMENT I TREASURY SOLUTIONS17
BALANÇOIRE
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KOBUS FOUCHEHead of Reporting
DAVID GOOSENInvestment Analyst