Standard Bank Group’s Private Client business has been rated as the overall winner of the third annual Business Day Intellidex, 2014 Private Banks and Wealth Managers survey, a highly sought-after accolade in the South African market.
October was an astonishingly volatile month for all asset classes. US long bond yields dipped sharply below 2% on one day, and then rose again; equity markets dipped very sharply and mostly bounced back. Most commodity prices, however, did not recover and dropped more and currencies were caught up in the volatility as well. It was all a good reminder of the unbalanced global economy and the lack of robust growth outside the US.