Robust demand could continue to buoy eurozone shares going into 2022, but risks will continue to build as the year progresses. Highlights: The robust recovery in demand is expected to support share prices in early 2022 Europe benefits from market-leading companies in ‘green’ technology and other innovative, fast-growing industries There is a risk that higher inflation expectations may become entrenched, and central banks face a difficult balancing act given the high governmen

Policy and prices will be key for gold Two key drivers of the gold price – central-bank policy and inflation – are on the move. As the chart below shows, these two influences have combined in various ways to shape the gold market since the early part of this century. Now, following a coordinated and significant monetary and fiscal response to the pandemic globally, we have passed the point of maximum easing. Central-bank policy is beginning to tighten relative to its pace of

We often get the question; “Why do some clients achieve better investment returns than others?” While we don’t believe that there is a silver bullet – each of us is unique after all; we do think that the following dos and don’ts shared with us by financial advisors help to explain why some investors do better than others. This is not meant to be an exhaustive list of key behaviours that separate their more successful from their less successful counterparts, but rather food fo

Introduction Modern Portfolio Theory, introduced by Harry Markowitz in 1952, has provided the lens for the way investments have been viewed for more than 60 years. In its most basic sense, it suggests the most efficient portfolio is one that maximises the return at a set risk level. Despite its success, it does have some drawbacks, most importantly the assumption that investors solely focus on the risk and return of their investments. There is little to no consideration to wh

From what to expect in the investment landscape in 2022, to a few tips about how to approach your investments in the new year, Kapil Joshi – Head of Collective Investments from Momentum Investments, shares some information to help South Africans ease into 2022. The start of a new year is the perfect time to change old habits and make choices that promote growth and well-being. This isn’t only good advice for life, but also for one’s investments. As we get ready to welcome 202

Supply chain disruption should diminish in most industries in 2022 The significant disruption to supply chains seen in 2021, largely linked to Covid-19-related capacity shutdowns and transportation bottlenecks, is set to diminish as we move into 2022. Supply chain backlogs historically adjust quite rapidly after periods of stress, as the market responds to higher demand and re-builds inventory. We see no reason to assume that this won’t be the case in 2022, and indeed freight

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.” So begins Charles Dickens’ Tale of Two Cities. It might be the best opening line to a novel in all English literature and also seems to perfectly capture investing in 2021. Returns have been

As the world braces for the Omicron wave and booster campaigns are gaining steam, vaccine supply has once again come into focus in many countries. Germany’s new health secretary Karl Lauterbach for example rang the alarm bells this week, saying that the country is likely to run into supply constraints in the first quarter of 2022, potentially disrupting the ongoing booster campaign as well as efforts to close Germany’s sizeable vaccination gap. The fact that vaccines are stil