South Africa – time to breathe…and to change
While South Africa’s market performance has been unremarkable so far in 2016, political and economic events within the country have been more dramatic. Elena Tedesco, Co-Portfolio Manager – ESG Strategies, on the Emerging Markets team at Hermes Investment Management, discusses the ongoing challenges and opportunities in a nation facing significant upheaval. South Africa has performed broadly in line with the rest of the emerging markets this year (see Figure 1). Yet delve deeper and it is clear that the country and its economy have had a much more turbulent year.