Abax Investments boosts SA equities on Ramaphosa’s reform hopes

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.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Join us for BizNews' first investment-focused conference on Thursday, 12 September, in Hermanus, featuring top experts like Frans Cronje, Piet Viljoen, and more. Get insights on electricity and exploiting SA's gas bounty from new and familiar faces. Register here.

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.

___STEADY_PAYWALL___