{"id":778463,"date":"2024-06-24T12:09:15","date_gmt":"2024-06-24T10:09:15","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=778463"},"modified":"2024-06-24T14:47:43","modified_gmt":"2024-06-24T12:47:43","slug":"money-flooding-back-into-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/778463\/money-flooding-back-into-south-africa\/","title":{"rendered":"Money flooding back into South Africa"},"content":{"rendered":"\n

Investors are bullish on South African equities, even if there are still question marks over the Government of National Unity. <\/p>\n\n\n\n

South Africa is entering a new political era, with the ANC losing its majority in parliament for the first time since 1994 and calling for a Government of National Unity (GNU)<\/p>\n\n\n\n

Ten parties, including the DA, IFP, PA, FF Plus, Good, PAC, UDM, Rise Mzansi, and Al Jama-Ah, have signed up for the GNU. <\/p>\n\n\n\n

These parties account for over 70% of the National Assembly’s 400 seats. <\/p>\n\n\n\n

However, President Cyril Ramaphosa has not announced his cabinet amid reported conflict over positions.<\/p>\n\n\n

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Source: Seth Thorne<\/figcaption><\/figure><\/div>\n\n\n

Bank of America’s latest fund manager survey shows that 59% of managers are bullish on equities despite the ongoing uncertainty surrounding the GNU talks.<\/p>\n\n\n\n

71% of managers are optimistic about equities for the next three to five years. <\/p>\n\n\n\n

Moreover, 82% are likely to bring back offshore funds if domestic returns look superior. <\/strong><\/p>\n\n\n

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Regarding sector preference, fund managers prefer banks, software and metals& mining. <\/p>\n\n\n\n

There has also been a shift towards food retail over food producers. <\/p>\n\n\n\n

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Where to invest in South Africa: Woolworths vs Pick n Pay vs Spar vs Shoprite<\/a><\/blockquote>