After a remarkable recovery in the second quarter, global markets rose a further 8.1% in the 3 months to the end of September, as measured by the MSCI All Country World Index. The local JSE All Share Index was relatively flat but the much-maligned small cap sector gained 3.5% while mid-caps also outperformed perhaps pointing to a recovery in deeply discounted value opportunities.


In this Spring Edition of Perpetua Perspectives we reflect on the events of the past quarter and explore key investment topics from a domestic and global perspective. We also include articles offering insights into the important banking sector and other key sectors as companies begin reporting on the impact of COVID-19. In addition we invite you to read our new quarterly feature, Responsible Investing in focus.


We trust and hope that you find value in these pieces and welcome any suggestions for future articles.

Read the full report here.