THE money TIP
When it comes to old wives’ tales and superstitions, we all have different ideas. Some may serve us well and we’ll go on to swear by them and pass them on to our children, but others can backfire.
There’s a well-known trading adage that warns investors to sell their stock holdings in May to avoid a seasonal decline in equity markets.
However, if you decided to do this last month, you would be regretting it now, depending, of course, on where you invested your money.
According to Old Mutual Multi-Managers Wall Street indices, the UK FTSE-100 and Germany’s DAX saw record highs. The MSCI World Index also reached a record high.
“Over the past 12 months, this index has generated a magnificent 17% in US dollars,” said Old Mutual.
“The local South African equity market was slightly down in May. But if you invested in Naspers, you’d be content.
“The Naspers share price helped the industrial index to return 1.4% after it benefited from a surge in China’s Tencent share price.”
Naspers has a stake in Tencent, the most valuable company in China, which is the owner of messaging app WeChat.