THE money TIP

CityPress - - Business -

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.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.