Outlook for 2024

There will of course be headwinds in 2024 and some of these are clearly evident – the wars in Ukraine and the Middle East, geo-political tensions between east and west, China’s economic slowdown and its effect on the world economy, the challenges presented by climate change and not to forget: elections in the US, the UK and not least South Africa. Whilst the risk of recession remains, at least it seems inflation is under control and that this may herald cuts in interest rates as soon as the first quarter of 2024.

Whilst many analysts are fairly neutral going into 2024 on local and global equities, the outlook for bonds amidst falling interest rates is positive. Nevertheless, we have to be careful of a run up in asset prices to unrealistic levels amidst a more positive outlook at the start of the new year. After all, slightly weaker global growth is forecast for 2024.

We asked Morningstar what their approach to 2024 will be and they said that: “It would be a blend of caution and optimism”. Keeping to long term investment plans and offsetting risk through diversification and taking advantages of opportunities as they arise, remains a cornerstone of Morningstar’s investment philosophy.

Maximus in 2024

During 2023 we at Maximus have devoted considerable time and effort  to further improve our administration systems with a view to providing our valued clientele with the top level of service and efficiency to which we have always aspired.  We have recruited additional experienced staff and feel that our formidable team are well positioned to meet the challenges that 2024 will bring.  We also continue to value the support we receive from our partners Morningstar Inc whose expertise and professionalism has greatly enhanced  our offering to our clients.

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