BIZweek n°291 22 mai 2020
BIZweek n°291 22 mai 2020
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  • Parution : n°291 de 22 mai 2020

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 8

  • Taille du fichier PDF : 1,8 Mo

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VENDREDI 22 MAI 2020 BIZWEEK ÉDITION 291 Due to the on-going war against the COVID-19, local and foreign equity markets have fallen significantly from their peaks and remain highly volatile. Moreover, with the central banks around the world cutting key interest rates to nearly zero, yields have considerably fallen. Fixed income investors are now exposed to the risk of earning negative real interest rates. According to Aon Hewitt (Mauritius) Special Report entitled ‘Gold as an Investment’, if an individual had invested MUR 100 in 2005 in Gold Futures, the position as at 30 April 2020 would be worth MUR 543. From the historical data, they note the following : Over the last 15 years, taking into consideration the financial crisis of 2008 and the recent market downturn, Gold has been the highest performer. Over the last 10 years, taking into consideration the recent boom in Foreign Equities, MSCI ACWI is the highest performer. Gold comes in second. Over the long term, the volatility between asset classes is very different. The SEMTRI shows the same trend as the MSCI ACWI. This shows that investing only in local and foreign equities may not be very effective in terms of diversification. History of Gold Price Over the past 40 years, the historical return on Gold Futures is 4.5% on an annual basis. However, in the recent periods, gold has witnessed flash rallies as wellas downturns. From 1981 to 2004, the price of Gold Futures was almost flat with very low volatility (on a year on year basis). For the next 10 years ending December 2014, the commodity has returned 10.5% annually. This is largely explained by the Financial Crisis in 2008 and the negative/low correlation of Gold with other asset classes. Over the next 6 years, as at time of writing, the commodity has witnessed high LA TOUR Over the last 15 years, Gold has been the highest performer In a Special Report entitled ‘Gold as an Investment’, Aon Hewitt (Mauritius) analyses whether Gold, as an investment, can be used by Pension Funds as a diversifier in the Strategic Asset Allocation. Unlike the recent downfall of the Equity and Fixed Income Markets, the latest performance of gold has been commendable makes searching simple INVESTMENT levels of volatility. Since July 2018, the price of Gold Futures has been following anupward trend. Gold Futures are currently trading at USD 1694.20 (as at time of writing – 30 April 2020). This is slightly less than the peak of August 2011 where it was hovering around USD 1828.5. Not recommended for pension clients « The above analysis concludes that while entry time is crucial when in investing in Gold, investors should also be willing to hold the asset class on a long-termbasis for the sake of diversification », suggests Aon Hewitt’s Special Report. The Gold Market is considered very liquid. Nonetheless, Aon Hewitt does not recommend pension clients to invest in Physical Gold or hold Gold Accounts directly as this will normally involve storage and insurance cost and can become administratively difficult to handle. Official online directory of Mauritius Telecom Business People 3

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