STEPHEN CRANSTON: Equity market takes a hit as volatility spurs move to interest-bearing funds

For many years the Association for Savings and Investment SA used to complain about the reluctance of the public to invest in pure equity funds. They are, according to the textbook, the best asset class for long-term investment. And since 1960, when the all share index as we know it was started, the JSE has even outperformed the London and Wall Street markets.

But SA savers are proving to be happy to stay in unit trusts precisely because there are so many low-risk options — and at a time when after several interest rate cuts and bank deposits offer negative real returns. This makes even conservative unit trusts look attractive.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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