Business Talk – Malcolm Charles on SA’s market rebound and rate cut outlook скачать в хорошем качестве

Business Talk – Malcolm Charles on SA’s market rebound and rate cut outlook

Business Talk host Michael Avery speaks to Malcolm Charles, Portfolio Manager at Ninety One, about South Africa’s improving investment outlook. Inflation is anchored near 3%, bond yields remain attractive, and the rand has strengthened on the back of solid commodity prices and a weaker dollar. With fiscal discipline improving, debt potentially peaking, and rate cuts on the horizon, the macro environment looks far stronger than it did a year ago. A supportive global “Goldilocks” backdrop is also drawing renewed interest to emerging markets like South Africa. Still, Charles cautions against complacency. Much of the good news is already priced in, and political or global shocks could unsettle markets. He outlines a balanced portfolio approach — selective bond exposure, listed property, and built-in downside protection — while urging investors to manage expectations and stay disciplined in a lower-rate environment.