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B. G., Opalesque Geneva:

South Africa's stock market has been doing well over the past year even though domestically, concerns persist over a possible new wave of the Covid-19 and the return of Eskom's power cuts. That has permitted a long/short equity hedge fund to make positive gains.

The FTSE/JSE All-Share Index (ZAR) was up 14% YTD at the end of April, after returning 7% in 2020. As of 19th May, it has increased by 26% in the last year. The index has 139 constituents.

The South African Reserve Bank declared on 20th May that following an expansion of 6.3% in Q4-2020, its forecast for first quarter's growth stands at 2.7%, much stronger than the 0.2% contraction expected in March. The economy is expected to grow by 4.2% in 2021, up from 3.8%.

The stronger growth forecast for 2021 reflects better sectoral growth performances and more robust terms of trade in Q1-2021, the Bank says. Despite rising oil prices and a higher total import bill, commodity prices have risen to new highs, strengthening income gains to the economy. Household spending is expected to be he......................

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