Performance review — light at the end of the tunnel

Markets in a Nutshell

More than enough officially hits the classrooms

Unlocking opportunities in SA Inc. Counters

Navigating ESG complexities in the real world — South Africa's looming gas crisis

Foreword | Issue 69 | 1st Quarter 2024

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Investing in China — Risks and Opportunities

MARKETS IN A NUTSHELL — FOR MARCH 2024

World equity markets remained in go-go mode last month, with US bourses hurtling along at a giddy pace. The S&P 500 Index added another 3.1%, wrapping up the first quarter with a hefty double-digit gain and closing at yet another all-time high. Notably, the March rally was not driven by ‘big tech’ — energy, materials and utilities were the biggest gainers. World developed market bourses rose in tandem, while emerging markets also gained as even reluctant investors joined the fray. Chinese equities nudged higher, with the market seemingly now to have troughed.

MARKETS IN A NUTSHELL — FOR MARCH 2024

In our monthly podcast, ‘Markets in a nutshell’, Linda Eedes discusses what’s happened in global markets and economies over the past month, how we see things playing out and how Foord is positioned as a result.

Investing in China — Risks and Opportunities

China’s main Hong Kong stock market index — the Hang Seng — has nearly halved on net selling by foreign investors since its post-COVID peak. The index is trading at levels last seen 25 years ago and at valuation lows reminiscent of the 1997 Asian Financial Crisis. In this article, Foord Singapore portfolio manager JC XUE counters the ‘China is not investible’ argument and looks at long-term opportunities for patient investors.