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The petrol price increased by 59c/l to end 2022 at R23.16/l. The petrol price increased by R8.47/l or 57.7% from January 2021 to December 2022. Stage 6 load-shedding continues as Eskom ran out of diesel and power stations fail. Andre de Ruyter resigns as Eskom CEO. Stats SA announces the economy grew by 1.6% in Q3 (from -0.7% in Q2), better than expected, putting the economy on course for 2.4% growth in 2022. CPI for November declined to 7.4% from 7.6% in October. The ANC-led majority in parliament rejected an impeachment process against pres. Ramaphosa by voting not to accept the Phala Phala investigative report. Ramaphosa is re-elected as president by a larger margin and at least 5 of the top 7 ANC positions are Ramaphosa supporters. The JSE ALSI ends the year at 73 048.6 points (0.9% lower year-on-year) and the yield on the 10-year bond ended 80 basis points higher at 10.185%. Both the Federal Reserve and ECB increased interest rates by 50 basis points, 25 basis points less than the previous increases. Both, however, warns a lot more tightening might be needed to bring CPI down to acceptable levels. Argentina wins the Soccer World Cup.
Multivest Economic Division
Multivest Chartbook - December 2022
Multivest Portfolio Returns
Disclaimer: The investor is liable for CGT on any transactions in the units of the underlying unit trusts within the wrap funds. Compulsory investments are not subject to CGT. Performance is calculated using net returns(after fees) of the underlying unit trusts, and quoted excluding wrap fund fees. Performance quoted is pre-tax. Fund performance numbers shown are for a notional portfolio and do not reflect the actual performance of the client invested in the wrap fund due to timing differences of investments or disinvestments of the client. Benchmark returns for CPI are based on actual published returns and an estimated one month return for the month of the report date. ASISA Benchmark returns are the ASISA returns available as at the time of reporting.