Newsletter – June 2023 – Issue 133

Offshore markets have had a good rally and some analysts are saying that it looks like the start of a bull market.
S&P 500 year to date up 14 %
NASDAQ year to date up 29 %
JSE year to date up 4%
The local JSE has not fared so well, but what has helped our clients with offshore investments is the rand declining.
$100 12 months ago was worth R1 980.00
$100 now, is worth R2 345.00.
This is a 18.44% decline rand against USD. So, our clients with offshore investments made 18.44% in rand terms even if the investment made no returns in USD or GBP.