2019/03/11 00:00:00

SA equities, represented by the FTSE/ JSE Dividend Plus Index, fell by 1.55% in the fourth quarter 2018. The Rand weakened by 1.45% against the U.S. Dollar in the fourth quarter. The Fund has performed in line with the index as it mirrors the constituents of the index.
South African equity markets underperformed in the 4th quarter of 2018 with concerns over SOE governance, global liquidity and Rand uncertainty. The ABSA Manufacturing PMI number rose to above 50 indicating positive activity for the first time since March 2017. The increase in mining output together with the price increase of gold and platinum is likely to have a positive effect on real GDP for Q4.
The last quarter of 2018 was a very volatile period for most asset classes globally as well as locally. EM currencies, have been desperately trying to shrug off negative sentiment, particularly out of China. Locally, the SARB hiked rates by 25 basis points, pointing to heightened risk of higher primary and secondary inflation.
The fund tracks the performance of the FTSE/JSE Dividend Plus Index containing 30 high dividend paying shares.