In a recent survey conducted by Bank of America (BofA), fund managers in South Africa have shown a preference for South African equities over the S&P 500.
The feedback was gathered from approximately 20 meetings with clients in Cape Town and Johannesburg, focusing on BofA's Global and South Africa Strategy. The survey took into account BofA's global year-ahead reports and forecasts to shape the South African Strategy view for 2025.
The findings were part of a broader discussion that took place during BofA's global macro year-ahead conference, which concluded in early December. South Africa's economic resilience was highlighted, with comparative analysis showing its performance against other emerging markets like Brazil.
Investors at the roadshow were particularly interested in the prospects of gold, the growth of South Africa's Gross Domestic Product (GDP), earnings per share (EPS) forecasts, and market positioning strategies. A significant point of concern was identifying the right time for foreign investors to engage with South African equities.
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