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Article: Managers see value in South African equities; Dividend yield for some South African shares now approaching 4.2 per cent.(Brief Article)(Statistical Data Included)
- Article from:
- Investment Adviser
- Article date:
- October 7, 2002
- Author:
CopyrightCOPYRIGHT 2002 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Dan Bloch
CHEAP valuations make South African investments more attractive than two years ago, according to fund managers.
Investors shunned South Africa form 1999 to 2000 on concerns over Aids, sluggish growth of about 2.5 per cent and the crisis in Zimbabwe. South African industrial and financial companies fared particularly badly, as investors favoured their peers in developed economies.
But Peter Linley, investment strategist of Old Mutual Asset Management South Africa, said South African industrials and financials now look very cheap.
He said: "A lot of companies have strong cashflows and are financially sound," citing Standard ...