October proved to be another resilient month for markets as both local and global indices ended in the green. Our local FTSE/JSE All Share Index returned 1.6% for the month, and is up a whopping 33.9% year-to-date. These returns have largely been led by the significant run in resource stocks, which make up roughly a quarter of the local equity market. While the resources sector was down -4.8% in October, the sector has returned a very impressive 95.1% YTD. Global Developed Markets, as measured by the MSCI World Index, were also positive for the month and returned 2.0% in USD, and are up 20.2% YTD.
