The JSE recorded its best first-quarter performance since 2007 in the three months to end-March 2019.
Boosted by a 15.2% gain by Naspers, the all-share index rose 7.1% in the first quarter (an annualized return of 28.4%!), erasing most of the losses incurred through 2018.
As mentioned in our previous blog post “Controlling the Controllables”, markets recover quickly after a correction; so if investors pulled out of the market at the end of 2018 – none of ours did of course because they followed our advice – they would have missed out on a great first quarter. Upward bias is still in place so we’re expecting markets to continue trending upwards, albeit at a slower pace.