The market has been tough, and given the fact that the FTSE/JSE All Share Index delivered average annual returns of just 5.6percent over the past three years, many investors would have been better off with cash in the bank, says Steyn. This said, there is some good news ahead for resilient investors. Shares are no longer trading at elevated multiples and dividend yields have become extremely attractive, says Steyn.
Valuations are one of the most powerful indicators of long-term returns and while short-term risks are elevated, the longer-term investment case has notably improved as the dejected environment has given rise to several great investment opportunities, says Steyn.
She says these include:
* Master Drilling, a technology solution-driven company, focused on raise bore drilling services. It operates across a number of countries, with predominantly local currency costs and hard currency revenue, says Steyn.