Momentum Investments released their Economies at a glance - for January 2024, prepared by the Momentum Macro Research Team, Sanisha Packirisamy, Economist at Momentum Investments, and Herman van Papendorp, Head of Investment Research & Asset Allocation at Momentum Investments.

Satrix, South Africa's leading provider of index-tracking products, will list a new exchange traded fund (ETF) during the first quarter of 2024, upon approval from the JSE. The Satrix JSE Global Equity ETF (STXJGE) will give investors an equity building block that upweights local companies that have their primary listings offshore.

The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding OTC) fell to 4,448t in 2023, down just 5% from a notably strong 2022. When factoring in demand from the OTC markets and other sources,[1] total demand climbed to a new annual record at 4,899t.

Even though several negative factors impacted the investment environment in 2023, South African markets followed global peers higher in the final quarter with the FTSE/JSE All Share Index ending the year at 9.3%, which was marginally behind bonds at 9.7% but ahead of cash, at 7.8%.

he South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) kept interest rates on hold for the fourth consecutive interest rate-setting meeting at 8.25%. Interest rates have climbed by a cumulative 475 basis points since November 2021.

The final quarter of 2023 saw high geopolitical tensions emanating from the war in Gaza, stoking fears of broader contagion amid the humanitarian crisis with South Africa charging Israel with genocide at the International Court of Justice in The Hague.