Sanlam Intelligence

As a professional financial adviser, you have your clients’ best interests at heart. You want to make sure your advice includes solutions that are appropriate and deliver the results your clients expect. While investment principles are timeless, markets are in constant flux. It’s in times of great uncertainty that clients contact you more frequently for reassurance. To make your life easier and help you manage these queries proactively, we provide you with insights into the markets, the economy, and ever-changing investment legislation.

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  • Election Shock
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    Market update: November 2016
    anemptytextlline
    8 December 2016
    November will be remembered for its political surprises, some pleasant and some unsettling – depending on your political stance. In the first week of the month Wall Street and Asian markets trembled in anticipation of a potential Trump victory. Once it became official, bond investors sold off billions of dollars of bonds. In fact, the Bloomberg Barclays Global Aggregate Total Return Index lost 4% in November, the biggest retreat since the start of the index.
  • S&P Downgrade
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    S&P downgrade?
    anemptytextlline
    1 December 2016
    Says Arthur Kamp, investment economist at Sanlam Investments, as fixated as we are with the possibility of a downgrade to sub-investment grade by ratings agency Standard and Poor’s (S&P), all may not be as gloomy as predicted. One has to be careful to distinguish between our foreign currency debt and our local currency debt in determining the true extent of the debt burden, says Kamp.
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    A sovereign downgrade: will SA’s crown topple?
    anemptytextlline
    28 November 2016
    On Friday Fitch changed its outlook attached to the BBB- ratings of SA foreign and local currency debt to negative, and warned that continued political instability could lead to the sovereign’s downgrade. It expects the political risks facing the country to remain high at least until the ANC’s leadership election in December 2017. Moody’s kept the sovereign rating unchanged at Baa2, two levels above subinvestment grade, with a negative outlook. And this coming Friday Standard & Poor’s releases its long-awaited report on the quality of South African debt. Frederick White and Mokgatla Madisha from Sanlam Investment Management believe that a downgrade is largely expected by the market and that the news is creating attractive investment opportunities.
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    Downgrade: can we buy ourselves enough time to turn the ship around?
    anemptytextlline
    24 November 2016
    The next two Fridays are particularly important to South Africans. Moody’s will be announcing their findings on the state of affairs of SA state-owned entities (SOEs) on Friday, 25 November. And a week later Standard & Poor’s and Fitch will decide whether SA’s debt rating will be downdgraded to non-investment status. Investment economist Arthur Kamp explains why we are hardly out of the woods – despite the co-operation between government, labour and business to address some of the policy uncertainty and constraints to growth in recent weeks.
  • Election Shock
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    Election Shock!
    anemptytextlline
    23 November 2016
    Trump has promised to cut taxes, renegotiate free trade deals and spend money on infrastructure. He also lambasted the Fed for keeping interest rates too low. Should he fulfil his election promises, particularly on import tariffs, this would significantly increase US inflation. What does this mean for equity and bond markets?
  • A Trump-led US
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    Even a mollified Trump presidency has significant implications
    anemptytextlline
    23 November 2016
    Investment economist Arthur Kamp notes that the by now thoroughly commented on links between trade liberalisation, jobs and living standards are dangerous. They lead us to narrowly focus on the likely protectionist trade policies after Trump’s victory. But the topics which shaped the outcome of the US Presidential election begs the question to what extent the US is likely to disengage from the rest of the world – or not. And are the so-called Trump economics even feasible?