Abax Investments boosts SA equities on Ramaphosa’s reform hopes

Abax Investments boosts SA equities on Ramaphosa’s reform hopes

Abax Investments Ltd. has boosted its exposure to South African equities
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Abax Investments Ltd. has boosted its exposure to South African equities, driven by President Ramaphosa's economic reforms. Since the May 29 election, South Africa's benchmark index rose 2.4%, outperforming the MSCI's Emerging Markets Index. The Abax Equity Prescient Fund increased by 7.3% this year. Top stock picks include Shoprite, Pepkor, and Woolworths, reflecting optimism about market-friendly reforms and economic growth under the new coalition government.

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By Khuleko Siwele

Asset manager Abax Investments Ltd. has increased exposure to South African equities, encouraged by President Cyril Ramaphosa's economic-reform plans, but warned that investors would want to see results before getting too excited.

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