Investors had a tough time with property stocks as well as local and even offshore shares, while bonds remained reasonably stable with the SA All Bond Index showing 7.69% growth for 2018. Money Market rates were relatively stable with the SteFi index ending the year at 7.25%.
Reinforcing the need for diversification is the Listed Property Sector which lost over 25%. Fortunately, whilst many investors recently increased their exposure to exploit short term gains, Destiny retained its 5% allocation to property.
As outlined hereunder, few of the South African top 40 shares were positive for the year with the ALSI top 40 index down 8.31%.
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