Old Mutual Investment Group: Recent Episodes
Old Mutual Investment Group
In this episode of The Money Show, Portfolio Manager Peter Brooke talks about the surprising strength of the rand and JSE, driven by key economic indicators and market sentiment. He highlights the positive outlook for South Africa’s platinum miners and explains how a government of national unity is boosting market confidence. Plus, a look ahead at potential trends over the next 12-18 months.
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🎧 Listen in as Robert Lewenson, our Head of Responsible Investment, shares the key highlights of our 2024 Responsible Investment Report. This report showcases our unwavering commitment to sustainability and driving positive change within the industry.
This year’s edition offers fresh insights into how we are integrating sustainability into our investment processes and decision-making frameworks. 🎯
🔗 Dive into the full report here.
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Curious about Shari'ah-compliant investments and how they work?
🎙️ In this podcast, Portfolio Manager Maahir Jakoet explains the advantages of investing in Shari'ah funds and how to incorporate them into your portfolio.
He unpacks how these funds manage to offer attractive and sustainable returns. 🌿📈
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The JSE has seen a big rally recently with the local bourse setting new records. What is driving some of these gains — and does this mark a shift in foreign investment sentiment regarding SA prospects?
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In this podcast Portfolio Manager Peter Brooke discusses the South African market volatility and potential rate cuts. The key takeouts are:
- Market volatility driven by macroeconomic data and inflation expectations.
- Misallocation of capital in write-downs across companies.
- Cost pressure on South African companies, need rate cuts to boost consumer spending.
- Emerging market countries, including South Africa, may cut interest rates in advance of US action.
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In this podcast, Portfolio Manager Meryl Pick, shares her thoughts on the interesting dynamics at play in 2024, a year marked by significant global elections. She highlights the unique behaviour of the dollar, which often strengthens during times of market panic as investors seek safety in US government debt and assets like treasury bills and gold. Meryl also points out that despite the volatility, South African consumer-facing companies remain attractively priced compared to their global counterparts. This makes them appealing to investors looking for opportunities amidst the market fluctuations.
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On this podcast, Portfolio Manager Peter Brooke shares insights into the fluctuations in the rand and broader market, emphasising the importance of looking at longer-term patterns rather than short-term moves. He also discusses the impressive performance of certain equities, particularly in the building construction, local property, small and mid-cap shares, and retailers. Looking ahead, Peter is keeping a close eye on domestic plays and the genuine fundamentals behind the rand.
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With the election behind us, the outlook for local equities is looking better. Portfolio Manager Jason Swartz shares views and expectations of the new Government of National Unity and possible policy shifts. The prospects of a reform-minded government, less load-shedding and reduced borrowing costs should all be constructive for an improvement in local economic growth.
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On this podcast, Portfolio Manager Peter Brooke shares insights into the fluctuations in the rand and broader market, emphasising the importance of looking at longer-term patterns rather than short-term moves. He also discusses the impressive performance of certain equities, particularly in the building construction, local property, small and mid-cap shares, and retailers. Looking ahead, Peter is keeping a close eye on domestic plays and the genuine fundamentals behind the rand.
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Portfolio Manager Jason Swartz gives an update on the recent developments in the political space. While markets were experiencing pronounced uncertainty before and during the election, South Africa is no stranger to volatility. Listen to Jason's analysis to understand what this shift means for investors and how it might shape the economic landscape.
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In this interview Arthur Karas discusses the current market volatility and potential impacts of coalition government discussions on the South African economy.
Key points covered:
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Financial market uncertainty amidst coalition talks
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Rand volatility and potential sell-off scenarios
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Comparisons with historical events and similar emerging markets like Turkey
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The impact of local political decisions on global macroeconomic trends
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On the latest Money Show Peter Brooke discusses the significant changes happening at Pick n Pay. The market is responding positively, with the share price up 6.6% today and 25% for the week, despite the company reporting a substantial loss.
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In this market wrap-up, Meryl Pick offers valuable insights into market movements. Despite some fluctuations, mining shares rebounded, driving the All Share Index up by 348 points. Meryl delves into the dynamics behind these movements, highlighting the influence of recent corporate actions like Anglo American's potential deal and global economic factors.
Amidst uncertainties surrounding the upcoming elections and interest rates, Meryl discusses strategies for navigating market noise and ensuring solid investments. Diversification remains key, with a focus on identifying undervalued opportunities within South African financials and gold shares.
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In a recent interview with Bruce Whitfield, Peter Brooke delved into the fascinating dynamics propelling our stock market, shedding light on why recent economic indicators seem to have little sway over investor sentiment. From the impact of global equity markets to the potential implications of BHP Group's bid for Anglo American, Peter offers astute observations on the forces driving market movements.
Discover how companies like Raubex and Astral Foods are navigating challenging landscapes and find out why resilience remains a hallmark of South African businesses. With Peter's seasoned perspective, you'll gain valuable insights into market trends and potential investment opportunities. Don't miss out on this enlightening discussion!
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In the final podcast in our Investment Alchemy series with Moneyweb, Portfolio Manager Arthur Karas discusses why, after lacklustre performance in 2023, the local retail sector appears primed to offer investors a more promising return.
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In his latest podcast, Peter Brooke shares insights from the Bank of America Sun City Conference. Despite challenges, South African companies are resilient, with strong management teams adapting proactively. Foreign earnings are on the rise, driven by expansion into other geographies. However, concerns linger, especially in the platinum industry. Foreign investors are eyeing unique growth opportunities in smaller companies. Brooke emphasises the importance of understanding these dynamics to make informed investment decisions.
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Maahir Jakoet shares invaluable insights into navigating today's investment landscape. He discusses the significance of timing interest rate cuts for long-term investors, emphasises the healthcare sector's revolution fuelled by AI and wearables, highlights preferred tech companies like Alphabet and Meta, and outlines the importance of Shari’ah-compliant portfolios for ethical investing and diversified outcomes. Don't miss out on these key insights - catch the full interview to gain a deeper understanding of investment opportunities in today's market.
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In this engaging podcast, Siboniso Nxumalo dissects 2023's challenges and explores the looming recession. Listen to him share recession-proof portfolio strategies, 2024's possible winners and losers and the impact of elections.
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Meryl Pick considers how the latest budget announcements and upcoming elections could impact global investor perceptions of SA as an investment destination.
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In this podcast Peter Brooke delves into the dynamic economic landscape. Gain insights into Christine Lagarde's stance on interest rates and the global trend towards lower rates. Understand the hurdles faced by companies like Sasol amidst transitions and growing debt. Explore the performance of AECI, Altron, and others in the face of market challenges. Discover why Brooke suggests lower rates are crucial to alleviate financial pressures.
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Discover the latest insights on navigating the complexities of the Chinese equity market in our recent macro perspective podcast. From assessing recent market dynamics to exploring potential opportunities in emerging markets, stay informed with expert analysis from Peter Brooke.
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Listen to Arthur Karas as he explores the latest market insights. From navigating challenges in the platinum group metals sector to discussing diversification strategies in telecommunications and retail, Arthur sheds light on key trends and opportunities shaping today's investment landscape.
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In this podcast Peter Brooke advises against high conviction investment calls based solely on macro-outlook. Instead, he urges investors to seek opportunities where growth is improving, and prices are reasonable. Looking ahead, a new theme for 2024 emerges: rate cuts, already underway in emerging markets like Brazil, Colombia, and Hungary.
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In this radio interview Meryl Pick sheds light on potential opportunities amid the turbulence. From cyclical rotations to home market bias, her perspective unveils hidden prospects even in uncertain times. As once said, "out of crisis comes opportunity" – a sentiment echoed in today's investment landscape.
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This year, the International Day of Education was celebrated under the theme "Learning for Lasting Peace", highlighting the crucial importance of education in promoting inclusive and democratic governance. Listen to this insightful discussion with Maahir Jakoet, Portfolio Manager at Old Mutual Investment Group, on the importance of education and how Old Mutual contributes to making saving and investing easier. He also explains how financial literacy and education contribute to South Africa’s economic environment.
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OMIG listed property portfolio manager Evan Robins talks to SAFM host Jimmy Moyaha about the outlook for the listed property sector in the year ahead, pointing out that its prospects are looking more promising, with headwinds on the decline.
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In the second podcast in the Investment Alchemy series with Moneyweb, OMIG listed property portfolio manager Evan Robins shares his views on why domestic listed property, compared to other asset classes, might not be as bad as previously thought.
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In this is episode Peter Brooke uncovers the impact of major reallocations of capital due to ESG considerations, energy security needs, and the shifting landscape of multipolar geopolitics.
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In this interview Meryl Pick explored the muted market response to Evergrande's liquidation and discussed the broader implications for China's property sector and commodity demand. She further analysed the surprising resilience of South African property shares and highlighted potential opportunities in certain segments amid a challenging global environment. In examining the retail sector's ability to weather economic challenges, in a fragile economic environment, she emphasised the significance of timing and scale in potential interest rate cuts by the SARB.
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On the recent The Money Show, Arthur Karas delved into the intricate dynamics of the JSE and the current economic landscape. Arthur shared insights on the challenges and opportunities we face between the inevitable decline in interest rates and the anticipation of a revitalised China. Touching on the resilience of companies amid economic uncertainties, he discussed the importance of patience and the quest for strong profit growth in today's challenging environment.
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In this podcast Peter Brooke discusses a transformative development—Cameroon's launch of the first-ever mass malaria vaccination programme. He sheds light on the journey from the vaccine's inception to its recent deployment, emphasising its potential impact on both human health and the economic landscape. Peter's analysis, inspired by Jared Diamond's "Guns, Germs, and Steel," highlights the positive ripple effect on long-term growth potential in Africa.
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Over time, the impact of high liquidity and trend-following funds has resulted in markets being fast-paced but often going nowhere. A stock can crash during a particular quarter and recover at the same percentage the very next quarter. For this reason, investors need to be patient, ignore the noise, and think long-term.
In this first podcast for 2024, Peter Brooke discusses the importance of looking beyond short-term issues, touching on interest rates, economic growth, and election views.
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In the latest interview on 702’s The Money Show, Siboniso Nxumalo, our Chief Investment Officer discussed the subdued activity on the JSE and the global market dynamics. Siboniso shed light on the dichotomy between the South African and US markets. He explored the contrasting valuations, the concentration of the US market in the "Magnificent Seven," and the potential risks and rewards of investing in both regions.
The perspective on South Africa's market, including its global contributors and the opportunities presented by undervalued stocks, challenges conventional wisdom, making this a must-listen for investors looking for a unique insight.
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It is the new year and investors are looking to see what investment opportunities are out there. Is it a year of recovery or more instability? Peter Brooke, in his recent interview on The Money Show, shares how despite having had a strong fourth quarter, things have somewhat shifted as there is less “good news” going around. And with 2024 being a heavy election year, politics are expected to dominate the markets and with that comes uncertainty.
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Peter Brooke, on this week’s The Money Show, delves into the recent shifts in market dynamics. He discusses the nuanced changes in the US Fed's stance, the SARB’s outlook on interest rates, and the intriguing landscape of the gaming industry. Peter also offers a keen perspective on market trends and the resilience of certain sectors.
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In his final podcast for 2023, Peter Brook shares insights from the HSBC South African Macro Conference. Highlights include government's openness and expertise, Cyril Ramaphosa's positive role in creating pockets of excellence, and surprising developments at Eskom due to the photovoltaic rollout and private sector collaboration. He further discusses the prospect of political choices affecting structural reforms for growth, while raising concerns about declining municipalities and the upcoming 2024 elections.
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Arthur Karas, on 702’s The Money Show this week, delves into the twists and turns in today's financial landscape. From the JSE's surprising rebound to the impact of global inflation on market trends, this interview is a must-listen for anyone navigating the financial terrain.
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In the first of our Investment Alchemy podcast series with Moneyweb, our Head of Global Urvesh Desai talks to Simon Brown about the ongoing uncertainty around geopolitics and interest rates heading into 2024 and the edge that quantitative brings during uncertain market environments, as evidenced by the performance of the Old Mutual Global Managed Alpha Fund.
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In this week’s podcast, Peter Brooke provides a unique bottom-up perspective on the challenges facing the South African economy. Drawing from his experience, Peter illustrates the real-world impact of issues like load-shedding, highlighting the ripple effect on costs, supply chain disruptions, and even quality control.
Tune in for a deeper understanding of the intricacies shaping South Africa's economic landscape.
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Siboniso Nxumalo, CIO at Old Mutual Investment Group, shared his optimistic outlook on South Africa's economy during an interview with Motheo on Radio 702's The Money Show. In this discussion, Siboniso also provided a comprehensive overview of the market dynamics, shedding light on the performance of various sectors, including resources, industrials, and financials. He also delved into notable market events, such as Aspen's strategic move into Asia and Capitec's independent foray into the insurance business. an.
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Peter Brooke had an insightful conversation on the latest market trends with Bruce Whitfield on The Money Show yesterday. While Standard Bank holds strong, the real excitement lies in small caps. Companies like Oceana, Invicta and Zeda are making waves. Peter highlighted the potential in undervalued South African small caps with offshore assets. Despite economic challenges, these companies are showing resilience and offer exciting opportunities.
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In today’s podcast, Peter Brooke delves into the intricacies of the South African economy, exploring the impending elections and the possible coalition governments. He also looks at the report by economist Ricardo Hausmann, shedding light on the 15-year growth slowdown and the urgent need for state capability. Despite economic woes, Peter identifies positive shifts and discusses opportunities in green energy and spatial development.
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On this week’s The Money Show on Radio 702, Meryl Pick discussed Netcare’s resilience, Omnia’s cyclical challenges and Astral Foods’ battles against industry-specific calamities.
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In this macro perspective episode, Peter Brooke discusses the surprising performance of gold this year – proving its resilience. Despite a strong dollar and rising interest rates, physical gold has delivered a 7% return in US dollars and an impressive 18% return for South African investors due to the weak rand. In the short term, gold serves as a protective asset against a slowing world economy and geopolitical risks, which could be good news for South African equities, where gold shares constitute 7.5% of the market.
For a deeper understanding of the factors influencing gold's performance and its implications for investors, tune in to the full podcast.
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Portfolio Manager Arthur Karas discussed the current landscape of the telecom, gold mining, and food industries on 702’s The Money Show this week. Arthur highlighted the shift in user behaviour from less voice to more data, Harmony's strong performance that is sparking interest, and Premier Foods appearing to weather the storm better than Tiger Brands.
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Markets have experienced a rebound driven by overselling and underweight positioning, but we shouldn’t be reading too much into it. In his Interview on 702’s The Money Show this week, Portfolio Manager Peter Brooke shared his view on the current market recovery and highlighted the undervaluation of South African assets, indicating the possibility of good real returns from SA bonds, equity, and property.
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The medium-term budget policy statement (MTBPS) tabled today revealed a sharp deterioration in fiscal metrics, aligning with expectations. Despite negative revisions, the budget is deemed realistic, considering the current circumstances. While reflecting challenging economic realities, the MTBPS outlines a pragmatic approach to financial management, emphasising consolidation, realistic assumptions, and strategic fiscal policies. For more in-depth analysis, tune in to our podcast episode by Peter Brooke discussing the implications of these measures on South Africa's economic landscape.
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This week on 702’s The Money Show, Portfolio Manager Meryl Pick discussed critical market insights, exploring the ambitious claims of Noel Quinn, CEO of HSBC, about the China property crisis, and the challenges faced by MTN in Nigeria's volatile market. Additionally, Meryl shared her cautious stance on Pick and Pay, emphasising the complexities of market turnarounds and the need for a watchful eye in this competitive landscape.
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On 702’s The Money Show this week, Portfolio Manager Peter Brooke, discussed several key developments in the South African market, highlighting the dynamic nature of its financial landscape, as well as challenges and opportunities for investors and businesses.
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This week on 702’s The Money Show, our CIO, Siboniso Nxumalo, discussed the current state of the South African economy, focusing on the declining commodity prices. He highlighted the impact of lower prices of platinum group metals (PGMs) on SA's fiscal revenue, noting declining income tax and royalty contributions.
Nxumalo's insights shed light on the complexities facing our economy and the need for prudent financial planning.
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Peter Brooke, along with other industry peers, attended a meeting with Deputy President Paul Mashatile, discussing the state of South Africa's business landscape. In this podcast Peter highlights the value of government-business dialogues in improving sectors such as energy, transport, and tackling crime.
Tough times ahead, but dialogue is key.
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Our Head of Equity Research, Meryl Pick, was on 702’s The Money Show sharing insights on what is happening in the Middle East and the financial implications. The immediate impact is seen on oil prices due to geopolitical tension, which could lead to potential inflation. Meryl advises that it is important to evaluate dependencies on affected regions like Israel; assess potential impacts on supply chains, tech startups, and exports.
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In a recent interview on The Money Show Peter Brooke delves into Pick n Pay's challenging situation, marked by a significant share price drop and the appointment of Sean Summers as Chief Executive after 17 years. Brooke emphasises the importance of long-term strategic decisions in the retail sector, cautioning against hasty turnarounds and highlighting the need for evidence-backed changes.
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In this podcast, Peter Brooke, discusses the current macroeconomic and market conditions, highlighting the challenges posed by rising interest rates, high oil prices, and weaker economic data, particularly in the Eurozone.
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There are several positive themes driving investment in the uranium industry, the most important being the green energy transition followed by multipolarity. Peter Brooke delves into the compelling case for uranium investment. He talks about the outlook and supply issues concerning this commodity.
Listen to the full podcast for more on the future of the uranium market.
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What made top of the news yesterday was the Bob van Dijk stepping down as CEO of Naspers and Mondi finally selling off the last of its Russian operations. Our CIO, Siboniso Nxumalo, was on 702's Money Show sharing his views on these and other market-related topics.
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This week on 702’s The Money Show, Arthur Karas talked about mining stocks, currency trends, the performance of specific companies, and provided insights into the current economic landscape. Markets have experienced a 1% decline for the month, while mining stocks saw some rebound due to several factors. Prosus and Naspers showed positive performance in the market, suggesting that improvements in China's economic activity could benefit these companies. Weakness in emerging market currencies is attributed to the expectation of higher US interest rates, making holding dollars more attractive to investors.
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On 702 Money Show this week Peter Brooke discussed the influence of ongoing stimulus measures in China, the ripple effect on mining sectors, and the South African market's unique challenges, including the impact of load-shedding on food manufacturing companies. Additionally, Peter touched on the South African rand's fluctuation and its connection to local economic factors, such as debt, profit, and global commodity prices.
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Siboniso Nxumalo was on the 702 Money Show discussing the resources’ recent bounce back, after being under immense pressure this year, especially when looking at the platinum group metals. He also shared his views on the Italtile results, which came out weak. They reported a profit decline of 15%.
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Peter Brooke discusses the economic situation in China and addresses the comparison between China's current state and Japan's past economic challenges in the 1990s. While some aspects of the "China is Japan" narrative hold true, there are significant differences and opportunities in China's situation. An International Monetary Fund (IMF) paper published this month, attempts to unpack the assets China holds to offset its huge debt burden of nearly 300% of GDP. They estimate that China has the most assets in the world, with an estimated US$12.5 trillion worth of assets. As a result, China has nearly 30% of government financial assets around the world.
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Meryl Pick delves into the recent market dynamics, including the recovery bounce on the JSE after a series of challenging days and the complex interplay of global commodities. With a focus on China's growth trajectory, Meryl offers insights into the challenges faced by regulators and the potential impact on the economy. From the intricacies of consumer-led growth to the implications for global markets, we explore the multifaceted landscape of investments.
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Siboniso Nxumalo, provides valuable insights into Sasol's situation given its underwhelming performance. The discussion delves into whether Sasol's struggles are indicative of broader trends within the market, highlighting the challenges many businesses face in the current economic climate. The conversation expands to compare the performance of South African companies with their counterparts in other African nations. A deeper analysis reveals variations in growth, economic conditions, and the challenges faced by businesses operating in different regions of the continent.
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Peter Brooke drops some major truth bombs. Brace yourselves as he dissects the intriguing dance between valuations and future returns. Valuations might seem like mere blips on the radar in the short term, but their impact intensifies over time. Peter crunched the numbers, analysed the trends, and uncovered a treasure trove of insights that could reshape your investment strategy.
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While the short term points to a soggy patch in terms of global resource demand, Peter Brooke is bullish on mineral demand around the world in the long term. In three to five years, there is the potential for a resources super-cycle driven by de-carbonisation and higher inflation. The mining sector will certainly benefit from this shift, but South Africa is unlikely to.
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Arthur Karas sheds light on the recent market fluctuations and the challenges faced by prominent companies like Telkom and MTN, which are standing in stark contrast with one another. While MTN has found new growth paths but faces challenges from a devalued Naira impacting costs, Telkom seeks to carve its own path amidst a transition from a dying legacy business to a growing segment.
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Peter Brooke shares insights on the current global interest rate scenario. He notes that we are close to the end of the rate hiking cycle worldwide. As we approach the end of the rate hiking cycle and prepare for potential rate cuts, Peter urges us to navigate this uncertain period wisely. Adapting investment strategies and considering opportunities in different asset classes will be essential for optimising returns.
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Despite a steep interest rate cycle in the US, the current rally seems to be defying gravity and monetary policy tightening. The market's response has been counterintuitive. Meryl Pick raises an essential point about this rally, which might be driven by anticipation of an economic recovery and potential rate cuts from the Fed to stimulate growth. However, there's good news for emerging market currencies, including the SA rand. The sentiment suggests that the worst may be over for the US rate hiking cycle, making the dollar less attractive. As a result, currencies like the rand are benefiting and gaining strength.
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The market witnessed an interesting twist as China's underperformance took centre stage. Arthur Karas sheds light on the market activity, highlighting two significant factors. Firstly, Chinese numbers showed impressive growth. Conversely, the luxury goods giant, Richemont, delivered underwhelming results, leaving investors questioning whether we are at the peak of the luxury cycle. This thought-provoking discussion prompts us to challenge our assumptions about the rand and consider the potential for a change in trend. While uncertainties persist, the evolving market dynamics warrant a closer examination of investment opportunities.
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The latest episode of Macro Perspective with Peter Brooke reveals unsettling conclusions about the escalating tech war and its implications for the global economy and stock markets. From export bans and takeovers to the possibility of Taiwan's involvement, the landscape is laden with risks that could disrupt the world economy.
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Peter Brooke shares a positive outlook for Anglo American, emphasising the favourable terms obtained by Botswana, where the diamonds were recently discovered, enabling them to leverage the resources for the benefit of their people. In SA, looking to the second half of 2023, Peter advises caution and suggests bonds and cash as potentially good investments, anticipating a market downturn. He identifies opportunities in SA companies and the positive long-term prospects for SA, as we make progress in electricity generation and reduce energy intensity, leading to improved GDP growth.
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Arthur Karas provides insights into the impact of global factors on South Africa's economy. The challenges presented by inflation, interest rates, geopolitical events, and industrial sector performance reflect the complex dynamics that businesses and individuals must navigate. As South Africa continues to face these challenges, it is essential to stay informed and adapt strategies to thrive in this evolving environment.
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Peter Brooke delves into the exciting state of global markets and the performance of specific companies. We've seen the absence of an anticipated recession, providing a stable foundation, falling inflation rates, better-than-expected results, and a decline in energy prices have contributed to a global upward trend.
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South Africa now illustrates the double-sided nature of risk. Sentiment is dire, but assets are cheap, and there's potential for recovery with Chinese growth, private sector electricity delivery, and foreign investor interest. Like China, investing in new economy sectors will be crucial for our development.
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Another possible merger & acquisition in Telkom generates interest due to potential growth prospects in business because of fibre infrastructure specifically in under-penetrated areas. And positive sentiment surrounding loadshedding and averted US debt default contributed to the rand's strengthening, along with interest rate differentials favouring the currency.
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Arthur Karas discusses the current state of markets and the factors impacting them. He mentions the weak currency, interest rate hikes, and the recognition of bad news across various markets. He also discusses the potential paths for the US economy and China's reopening progress. Additionally, he highlights the oil price, the impact on Sasol, and the potential benefits for the company in the future. Overall, he provides a mix of cautious optimism and acknowledgment of ongoing challenges.
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Peter Brooke delves into the intricate concept of multipolar global dominance and sheds light on the crucial factors that drive our investment decisions. These insights provide valuable guidance for investors navigating the complexities of the global market.
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Today the rand is at the same level it was in 2020, 2008 and 2001, at a time of global crisis. Emerging markets have underperformed materially, including SA, but JSE is performing strongly. Siboniso Nxumalo explains.
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In his latest Macro Perspectives, Peter Brooke reflects on the rand, the actions we've taken to maximise investment outcomes based on rand's position and shares our forward-looking perspective, amid several challenges, including a slowing global economy.
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Meryl Pick reflects on the resilience of South African companies, amid varying challenges, like load shedding and the remnants of a global pandemic. This after Astral reported a sharp decline in earnings.
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Peter Brooke shares his views on the SA bond yield and whether we're seeing a value trap in this part of the market. Further highlighted in this conversation, results from Raubex and Vodacom.
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in his latest Macro Perspectives Peter Brooke shares his thoughts on a geopolitical talk on the reframing away from a “US versus China” world, the dominance of China in Africa, Africa's growing population, and the ever-present electricity crisis.
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Meryl Pick shares her insights on how the markets behaved yesterday, the pressures in the property sector, such as the impact of diesel costs on retail shares, and the choices retailers need to make between protecting margins versus maintaining market share.
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In his latest Macro Perspectives, Peter Brooke reflects on the impact of the US First Republic Bank bankruptcy, the six interest rate hikes globally as we ended April, and his concerns around recent data releases.
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Arthur Karas, reflects on yesterday's top performers, which suggest the kind of environment people are looking for - protection from volatility and access to benefit from opportunities.
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In his quarter one 2023 market update, Siboniso Nxumalo, Chief Investment Officer, talks about two themes: a desynchronised world and South African cycle slow, as he puts our fund performance in perspective. At this moment, we're seeing a high risk of a US recession, and China reopening. While remaining optimistic about South Africa, we're seeing a slowdown cycle.
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In this week's Macro Perspective podcast, Peter Brooke highlights key findings from an academic paper on companies producing net wealth from stock markets in the last 30 years, by Hendrik Bessembinder. Peter believes that the winners over the last 30 years won't be the winners in the next 30.
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Siboniso Nxumalo, Chief Investment Officer at Old Mutual Investment Group, touches on the story of the day; Naspers and Prosus, both closing by just about 4%, and how a company like Altron is becoming really difficult to run in a country like South Africa.
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Prioritising financial stability beyond growth, the SARB surprised with a 50 basis points rate hike.
According to Peter Brooke, the catch up is justified given that SA lagged most central banks over the last three years. Currently, the JSE is driven by global shares rather than domestically oriented shares.
In this environment it is important to stick to your long-term investment plan and maximise tax free savings.
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Meryl Pick discusses the news around OPEC+ and the impact on oil production and price. Although their trading update was flat, the Pick and Pay share price is up, signaling the first sign that negative newsflows are included in the price. And as a long-term investor one must take cognisance of this.
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Peter Brooke unpacks recent market activity, with both local and global markets looking calmer this week than the turbulent period we saw last week, which was driven by concerns around a global banking crisis.
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Neelash Hansjee unpacks the ongoing global banking rout following the implosion of Silicon Valley Bank (SBV) last week, as well as the implications for local banks.
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Portfolio Manager Peter Brooke explains why he doesn’t believe that history will be repeated following the failure of Silicon Valley Bank, and that concerns over another global financial crisis are unjustified.
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In his latest Macro Perspectives podcast, Peter Brooke discusses the contents of recently published book ‘The Powerful and the Damned’ by ex-Financial Times editor Lionel Barber, which highlights how little we can see into the future.
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Neelash Hansjee discusses this week’s stellar results from Bidvest that surprised the market, as well as performance from RCL – including its plans to offload its poultry and logistics businesses – and AVI.
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Portfolio Manager, Meryl Pick, discusses a recovery day in the markets yesterday, led by rand hedge stocks, as well as opportunities in the retail sector that could be created by Government’s solar energy tax incentives.
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In his latest Macro Perspectives, Peter Brooke dissects the eventful news week last week, following a market-friendly Budget, SA’s greylisting and the revelations by Andre de Ruyter of entrenched corruption syndicates operating within Eskom.
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Peter Brooke breaks down latest market performance, with Mpact results illustrating the energy production opportunity for the private sector, as well as Anglo American Platinum and the question mark around future commodities-driven revenue for the fiscus.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, focusing on the crisis of execution currently facing the ANC government, as illustrated by SONA last week and the lack of investment in recent years.
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Portfolio Manager, Arthur Karas, covers the positive day in the markets yesterday, despite Moody’s expressing concern over SA’s energy woes and the currency falling in response.
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In his latest Macro Perspectives, Peter Brooke covers the opportunities created by migrant labour in the UAE and the opportunity costs to economies such as Russia, the UK and SA, who are losing human capital.
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Portfolio Manager, Neelash Hansjee, takes a closer look at US employment data released this week, the direction of the dollar and US geopolitics, as well as performance out of the local resources sector.
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Portfolio Manager, Siboniso Nxumalo covers the somewhat quieter market activity that started out the week, as investors await the Fed’s decision on US interest rates due later this week.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, discussing the Saudi Arabian growth story, as it seeks to unlock R1 trillion of investment and makes progress in the inclusion of women in the economy.
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Senior Portfolio Manager, Siboniso Nxumalo shares his views on the last quarter of 2022, while also reflecting on the year as a whole and unpacking his portfolio’s positioning and performance.
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Portfolio Manager, Meryl Pick, discusses the latest outlook for US inflation and its impact on SA’s rate hiking cycle, markets, local companies and economic growth.
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Portfolio Manager, Peter Brooke, discusses the slightly flatter market yesterday, amid a strong start to the New Year, as well as expectations around a global recession, inflation and valuations for the year.
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Portfolio Manager, Peter Brooke, shares his latest perspectives, using investment lessons from the holidays to analyse the current local and global macro-economic and market environments.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, unpacking why he believes 2023 will bring better news for markets after a challenging environment during 2022.
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Portfolio Manager, Peter Brooke, unpacks the market reaction to the ANC’s elective conference results announced yesterday, as well as the news of Woolworths selling David Jones.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, rounding up the Macro Perspectives themes from the year, led by interest rates hikes and liquidity tightening, as well as SA performance in this environment.
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Portfolio Manager, Siboniso Nxumalo, discusses the curious move by Sabvest, announced this week, of repatriating offshore funds to invest locally, and the question of investment opportunity in SA currently amid growing negativity regarding local prospects.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, focusing on the market fallout of last week’s speculation around President Ramaphosa’s resignation, as well as portfolio positioning amid SA’s political risk.
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Portfolio Manager, Arthur Karas, discusses the calming of local and global markets this week, as panic subsides around President Ramaphosa’s impending resignation and optimism returns concerning a potential reopening in China.
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Portfolio Manager, Peter Brooke, unpacks the direction of inflation, in both the local and global contexts, as well as the current oil price, results from Standard Bank and the rebound in the local tourism sector.
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Portfolio Manager, Meryl Pick discusses the latest market news, focusing on Barloworld this week, including their plans for Avis, as well as PPC and its efforts to reduce its debt.
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Portfolio Manager, Peter Brooke, discusses the host of recent good news to come out of the three main global blocs – the US, China and Europe – which has catalysed a strong risk-on rally.
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Portfolio Manager, Siboniso Nxumalo, unpacks recent results from Vodacom and the resilience of the company and others like it, despite adverse conditions in the local environment.
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Portfolio Manager, Peter Brooke, discusses how the market managed to hold its ground starting out the week, led by news out of China, as well as covering performance from Raubex
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Portfolio Manager, Arthur Karas, discusses the strong start for markets this week, driven by Naspers/Prosus, as well as reports of Tesla buying a stake in Glencore and the rush for clean energy minerals.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, focusing this week on the vicious circle sparked by Liz Truss’s tax cuts, which put liability-driven investments under pressure – ultimately leading to political change.
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Portfolio Manager, Meryl Pick, discusses a weaker market yesterday, driven largely by the fall of Naspers and Prosus shares following the news of Chinese president Xi Jinping’s re-election this week.
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Portfolio Manager, Peter Brooke, offers his latest Macro Perspectives, this week looking at the chaos in the UK bond market following the Liz Truss administration’s disastrous tax cut proposals, and how our own local bond market currently stacks up.
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Portfolio Manager, Siboniso Nxumalo, unpacks the strong start to markets across the board this week, driven by a surge of optimism around peaking inflation and interest rates.
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Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, comparing the game of Poker with investing, when it comes to the art of skilled decision-making.
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Arthur Karas discusses some positive investment activity in the market this week amid the headwinds facing the country’s foreign investment drive, as well as encouraging performance from Sappi and Mondi.
Portfolio Manager, Meryl Pick, unpacks her thoughts on the news that Prosus has cancelled its R85 billion deal to buy Indian company, Billdesk, and the role of the current market environment in this decision.
Peter Brooke discusses the slightly more tempered markets that started out the week, as well as the question of whether opportunities in UK assets are starting to present themselves as the pound reaches record lows.
Portfolio Manager, Peter Brooke, shares his latest Perspectives, unpacking his ongoing experience of the UK market and his observation of how reduced supply – based on post-Covid capacity that can’t keep up – continues to drive up inflation.
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Portfolio Manager, Peter Brooke, shares his latest weekly perspective, with a bearish view on the UK economy, considering the toxic mix of higher house prices, low unemployment and higher government spending that the country is currently facing.
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Portfolio Manager, Arthur Karas, takes a closer look at the positive showing from the markets yesterday, off the back of optimistic expectations around the US inflation print this week.
Portfolio Manager, Peter Brooke, discusses pleasing performance from Bidvest this week and the implications of their offshore exposure, as well as performance from ABI and RCL in the food producers sector.
Portfolio Manager, Meryl Pick, unpacks the sharp global market selloff this week following Fed Chairman, Jerome Powell’s hawkish comments in his Jackson Hole symposium speech last week.
Portfolio Manager, Arthur Karas, discusses the fairly significant selloff in local markets yesterday, off the back of the Fed’s re-affirmation of its commitment to keep inflation under control by keeping rates high.
Portfolio Manager, Peter Brooke, shares his latest Macro Perspectives, this week looking at global currencies through the lens of seeking the best country to holiday outside of SA currently.
Peter Brooke shares his latest macro perspectives, this week analysing the rationale for recent rate cuts in China and the investment opportunities that this environment is creating.
Siboniso Nxumalo discusses the latest market news of the week, unpacking results and performance drivers from Absa and Thungela Resources.
Portfolio Manager, Peter Brooke, discusses the impact of higher-than-expected US employment numbers on local markets and the macroeconomic knock-on effect.
Portfolio Manager, Peter Brooke, discusses rising interest rates around the world recently, with SA being better protected than many emerging market peers and SA bonds looking more promising in this environment.
Meryl Pick unpacks a fairly flat start to the week for markets, with Quilter being one of the only standout performers, off the back of rumours of potential M&A activity involving UK bank, Natwest.
Siboniso Nxumalo unpacks the market response to growing fears of a global recession as all data continues to point to a significant economic slowdown, including specific local stock performance.
In his weekly Perspectives podcast, Peter Brooke discusses the Old Mutual Maximum Return Fund and its ability to invest in varying assets, its performance and how it is currently positioned against rising inflation.
Arthur Karas discusses the JSE upswing yesterday, with softening expectations around the US rate hike and stimulatory talk from Chinese authorities in the face of a looming property crisis, boosting mining and cyclical stocks.
As increased load shedding continues to besiege SA, Peter Brooke discusses government real asset investment, unpacking the varying levels by developed countries around the world and highlighting how South Africa is lagging woefully behind.
Peter Brooke discusses the possibility of a protracted commodities sector and the outlook for a broader local bear market, within the context of global market performance.
Meryl Pick takes a closer look at the JSE’s positive performance this week, led by the resources sector, while the market keeps an eye on data coming out of the US.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week presenting highlights from the biannual five year expected real returns update that shows overall improved returns for global and local asset classes.
Siboniso Nxumalo discusses plans announced this week by Naspers and Prosus to sell off their stake in Tencent and the impact of this on the broader market.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week evaluating June’s bear market movements, hawkish central banks across the board, and how his funds are positioned while global equities and bonds are selling off.
Arthur Karas discusses calmer markets this week, led by local mining stocks and banks, as well as unpacking potential new listings on the JSE and a slightly lower oil price.
Peter Brooke discusses the market volatility that started out the week, following news of the latest high US inflation number, and unpacks the question of whether the market is due an inflation-driven cool off.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week supporting a positive outlook of the South African economy and its investment opportunities following recent GDP and unemployment data progress.
Meryl Pick discusses a more upbeat JSE this week, supported by a stronger rand, commodities stocks, and Naspers and Prosus, as well as the possible underlying drivers of this improved performance.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week discussing China and investment opportunities for clients at this stage of its business cycle and supportive stimulus efforts in a stringent regulatory environment.
Siboniso Nxumalo discusses the implications of the resignation of PWC as external auditors for Oceana, as well as results from MMI, Bidvest and Adcorps and the current global economic environment.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week he explores Africa’s investment potential and demographic trends that position the continent for growth.
Arthur Karas unpacks the strong operational leverage from company results out this week, the rand’s reaction to S&P Global’s revision of SA’s credit rating outlook to positive, and current performance from the metals sector.
Following weeks in negative territory, Peter Brooke unpacks the bounce in the JSE yesterday, which was led, in part, by the recovery seen in results from Astral, Barloworld and Raubex.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week unpacking interesting developments in Cryptocurrency and its importance as a market indicator for investors.
| Meryl Pick analyses the current global market downturn as it enters into bear market territory; with interest rates rising and tech stocks falling after their recent meteoric rise, causing investors to flee.
Siboniso Nxumalo discusses upheaval in the markets this week, driven by the resources sector and the news that Beijing is going into lockdown over fears of a renewed Covid outbreak in China.
Portfolio Manager, Siboniso Nxumalo shares his quarterly perspectives unpacking global and local themes as well as investment performance.
Arthur Karas discusses the fallout for markets of steady slowing growth across global economies as well as the implications for the JSE of the major events driving this downturn.
Peter Brooke shares his thoughts on recent market movements, focusing on reports that Woolworths might be exiting its Australian operation, as well as latest results from Aspen and their implications.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week applying an investment lens to unlocking productivity and revenue in response to local societal challenges.
Peter Brooke shares his latest market perspectives on the war in Ukraine entering a new phase, which could see a bloody stalemate as Russia increasingly loses ground, as well as how markets will adjust.
Meryl Pick unpacks a weaker day on the markets yesterday, driven by falling commodities prices off the back of Russian sanctions and the concept of high prices being a cure for high prices.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week unpacking the impact of the Fed’s rate hike cycle on emerging markets like South Africa, asset prices and investment diversification efforts.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week unpacking numerous drivers behind the decline in the Naspers share price on the JSE and its strategic underweight positioning across the fund range.
Siboniso Nxumalo and The Money Show’s Bruce Whitfield unpack further plummeting performance from Naspers and Prosus this week, as well as good returns from Absa and Sun International.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week navigating market uncertainty driven by the Russian war in Ukraine and its effect on growth, inflation as well as investment plans.
Arthur Karas unpacks latest market performance, driven by solid commodity prices and a strong rand, which puts local markets in a better position than that of global markets currently.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week focusing on the low fund exposure to Russia as the conflict unfolds and the benefits for local investors from recent exchange control updates.
Looking at recent market developments, Peter Brooke unpacks the latest results from Bidvest, as well as the implications of Russia’s invasion of Ukraine and what this will mean for local companies such as Mondi.
Our 7th edition of the TOMORROW publication focuses on responsible investing where we explore themes that we believe are integral to attaining sustainable long term growth, and long term systemic risks and opportunities that will impact our industry. It comprises a series of essays by highly respected local and global thought leaders and key role players including asset owners, consultants, asset managers, economists, advocacy groups, and government representatives, some of which you’ll hear from in this podcast.
Portfolio Manager, Siboniso Nxumalo, shares his quarterly perspectives unpacking global and local themes as well as investment performance that affected fund positioning.
Following a shaky start to the week, Meryl Pick discusses what currently has markets spooked, including rising tensions in Europe and plunging prices for Tencent, Naspers and Prosus driven by renewed fears around Chinese regulations.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, this week he unpacks the recent State of the Nation Address (SONA) and macroeconomic indicators that bode well for company performance and emerging market currencies.
Siboniso Nxumalo unpacks this week’s jittery markets driven by concerns around war in Russia and global inflation, as well as discussing the surprising strength of the rand and results from Shoprite, Spur, and Dis-Chem.
Arthur Karas discusses the recent strong recovery seen in local markets and the underpin to this of the commodities sector, as well as drivers of the latest results from Telkom.
Portfolio Manager, Peter Brooke, shares his investment perspectives and unpacks the expected long-term real returns for the next five years. Please click here to read more.
Peter Brooke discusses recent stronger local market performance compared to global markets, as well as latest results from MTN and Massmart.
Following a day of weaker local and global markets, Meryl Pick discusses market movement including the Richemont share price, performance from retailers such as Clicks and a pullback in commodity prices.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week he unpacks recent market volatility and geopolitical events relating to how global and domestic investment themes are unfolding.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week he expands on how clients’ funds are positioned for volatility and diversification into relevant markets for the year ahead.
Siboniso Nxumalo discusses his views on the ongoing local market value uptick, set against a backdrop of rising global inflation concerns, Chinese rate cuts and rebounding consumer confidence.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week he reflects on the year and its milestones that include vaccines, a relatively good performance in equities, recovery in property, and growing wealth for our clients.
Portfolio Manager, Arthur Karas looks back at the past year for global and local markets, amidst the Covid-19 pandemic, low interest rates and rising inflation, and unpacks expectations for 2022.
Peter Brooke looks at the JSE recovery this week following the discovery of the Omicron variant, as well as a bounce in the rand and performance from Nampak and banking shares.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week he unpacks the importance of risk management in the investment process as new COVID variants emerge.
Portfolio Manager, Arthur Karas, discusses the market bounce this week following a dive in performance triggered by the emergence of a new Covid-19 variant last Friday, as well as current activity in the platinum sector.
Portfolio Manager, Peter Brooke, shares his latest investment perspectives, this week on emerging and developed market interest rate movements off the back of the SARB’s recent hike.
Siboniso Nxumalo shares his thoughts on the renomination of Fed chairperson, Jerome Powell; latest performance from Prosus, in relation to concerns around slowing Chinese growth; as well as Omnia and Netcare results
Peter Brooke discusses the recently announced Heineken/Distell deal, within the context of diminishing JSE listings, as well as Shoprite’s rebound following the impact of Covid lockdowns and June’s civil unrest on the business.
After a positive on the JSE on Monday, Meryl Pick discusses latest performance from the rand, as well as results from Richemont and Redefine and the disconnect that these highlight between the real economy and the markets.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on the highlights from the recent BCA conference that focused on risk management and holding well diversified portfolios geographically and by asset class.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on his participation and key investment insights related to asset classes and performance prospects at the recent BCA conference.
Portfolio Manager, Siboniso Nxumalo, shares his quarterly market perspectives, unpacking global and local themes as well as investment performance that affected fund positioning.
Portfolio Manager, Siboniso Nxumalo, discusses a quiet start in the markets this week, including latest activity from Aspen and Altron, as well as the current oil price in relation to ESG and supply and demand drivers.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week focusing on how Australia benefitted from the Chinese property boom and the cyclical impact of slow property starts in 2022 post the Evergrande collapse.
Portfolio Manager, Meryl Pick, discusses latest market news including performance from Dis-chem, as well as comments from Shoprite indicating concerns over inflation and rising food prices.
Portfolio Manager, Peter Brooke, discusses the stronger market performance that started off the week – driven by a commodities rebound – as well as the issue of global inflation and the value of SA assets.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on the performance highlights at a share and sector level from Q3 that gave rise to opportunities for global investors.
Arthur Karas discusses the drivers behind the slight uptick in local markets this week – with a bounce in tourism-linked stocks following SA being removed from the UK’s red list – as well as the market outlook for the remainder of the year
In his latest Perspectives podcast, Portfolio Manager, Peter Brooke, unpacks his views on the outlook for the Chinese property market amid the current crisis involving Chinese property developer, Evergrande.
With talk of the Fed hiking US interest rates, Portfolio Manager, Siboniso Nxumalo, discusses the role of the current supply and demand of oil in driving up inflation, as well as the impact of rising inflation and slowing Chinese growth on local markets.
Following a dip in local and global markets yesterday off the back of concerns around the potential defaulting of Chinese property company, Evergrande, Meryl Pick unpacks the role of unexpected catalysts in an overheating market.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on the investment themes playing out in the South African economy and how the local equity market stacks up in a global context.
Portfolio manager, Peter Brooke, shares his weekly perspectives, this week on the demand and supply dynamics of oil and its potentially volatile price in the long term.
Portfolio Manager, Peter Brooke, takes a closer look at the latest market performance, sharing insights on the implications of events in China currently, as well as on results from Raubex and Remgro.
Portfolio Manager, Arthur Karas, unpacks the sustainability of the health of SA’s current account, as well as latest performance from Bidvest, RCL, AVI and Capitec.
Portfolio manager, Peter Brooke, shares his weekly perspectives, this week on the August performance numbers of notable funds in the South African context that are positioned for increased equity and company share exposure.
Siboniso Nxumalo and Bruce Whitfield contemplate the future value of Bitcoin off the back of billionaire investor, John Paulson’s views, as well as stronger rand and bond performance, and Supergroup and Sun International results.
After an increasingly rare positive day on the JSE yesterday, Portfolio Manager, Meryl Pick, discusses identifying the overall trends driving the markets, as well as the sale of Massmart’s food division to Shoprite and latest performance from Bidvest, Murray and Roberts and Naspers.
Portfolio manager, Peter Brooke, shares his weekly perspectives, sharing the importance of quality decision making in fund management as investors and clients navigate volatile markets.
Portfolio Manager, Peter Brooke, shares his views on Sasol’s latest results and the role of ESG investing, as well as the challenge in finding opportunity as the market reaches a higher base level, and the selling down of Naspers following the share swap deal with Prosus.
Portfolio Manager, Peter Brooke, shares his latest weekly perspectives, on the recent cabinet reshuffle and the way forward for policy continuity led by the new finance minister in rebuilding for the new economy.
Following another flat day for the JSE yesterday, Portfolio Manager, Meryl Pick, discusses the search for pockets of performance within this tepid environment; as well as the MTN share price compared to Vodacom and the implications of current negative economic data in response to recent civil unrest and broader structural issues plaguing the country.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week is an investment risk management view of the recent corporate developments at Naspers following a significant drop in short-term market share.
Following the JSE closing flat yesterday, Portfolio Manager, Arthur Karas, discusses the market impact of Chinese regulatory tightening to limit the dominance and influence of companies across a number of sectors, as well as the damage that regular lockdown restrictions continue to inflict on the liquor sector.
Portfolio Manager, Siboniso Nxumalo, shares his debut quarterly market perspectives, unpacking investment performance, fund positioning as well as key global and local themes at play.
Against a backdrop of poor global market performance this week, Portfolio Manager, Siboniso Nxumalo, unpacks how continuing Covid-19 challenges are concerning markets, as infections keep rising despite vaccine rollouts.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week is an investment note on Covid, the global vaccination rate and what the pause in trade reopening means for market recovery.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week a rational viewpoint of the current political developments unfolding in South Africa. Broadly, market reaction is relatively muted with no signs of panic selling.
Portfolio Manager, Peter Brooke, discusses the impact of this week’s national unrest on the markets and currency with Bruce Whitfield, and what the chaos says about the structural challenges facing South Africa.
Portfolio Manager, Arthur Karas, talks latest market news on The Money Show, including Naspers and S&P500 performance, local market performers, and the impact of a possible extension of the current lockdown on the SA economy.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week is a summary of the long-term investment themes and global risks that outline fund positioning and capital allocation for clients into the future.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week applying an investment lens to historical leadership patterns across markets and why South Africa’s constitution remains strong.
As Government’s Level 4 lockdown measures played havoc with retail, entertainment, hospitality and property stocks, Portfolio Manager, Meryl Pick, discusses the Covid third wave implications and finding market opportunities in this environment.
In his latest weekly Perspectives note, Peter Brooke discusses how the lack of funds in the fiscus is creating private investment opportunities, as seen in the recent announcements on SAA and energy generation.
With the Fed turning hawkish last week, Peter Brooke discusses the drivers of a dip in local equities, as well as the US Treasury rate, Prosus and Naspers’ results, and their share swap plans.
Arthur Karas discusses the market activity dominating the start of the week, including a dip in the rand; stronger performance from the SA insurance, retail and banking sectors; the sale of Alexander Forbes’s retail life business; and the Prosus cross selling deal.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on South Africa’s potential as an investment destination on the back of recent positive economic data and announcements from the presidency.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on the biannual themes process that answers critical questions around the global recovery, inflation and employment in the evolving global cycle and investment landscape.
Siboniso Nxumalo shares insights on the lacklustre market performance yesterday – other than surprisingly strong rand hedge stocks despite a strong rand environment – and discusses the listing of AngloAmerican’s coal business, Thungela Resources.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on how geopolitics and environmental, social and governance (ESG) matters intersect in the world of investments.
Meryl Pick looks the surge of good news from the markets this week, driven largely by platinum shares; as well as discussing loadshedding’s impact and the exceedingly low expectations of investors currently.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this week on the impact a hybrid approach to working-from-home has on communication, social capital and learning for investment teams.
Peter Brooke unpacks disappointing local market performance – following increased Chinese scrutiny of commodity prices speculators and tech sector regulation – against a backdrop of stronger global performance this week.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time unpacking investment themes related to the recent share price movements and corporate developments at Naspers.
Arthur Karas discusses this week’s bounce in the markets, led by gold shares; as well as Astral Food and Redefine performance, and what the Balwin Properties and PSG Consulting results say about the current health of the SA consumer.
Siboniso Nxumalo unpacks the business facts surrounding Adapt IT CEO, Sbu Shabalala’s recent leave of absence and the bidding war between Canadian company, Verlarus, and Hugo Group, as well as latest results from Raubex, one of only two remaining listed construction companies on the JSE.
Meryl Pick takes a closer look at this week’s market news, including the exceptional performance from US markets off the back of a strengthening US economic recovery, as well as the question of what it will take before SA can start participating in the global economy once again.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time on why the rand has gained strength over the past year at pre-COVID levels, and expecting positive momentum for the balance of the year on the back of positive trade inflows and a weaker US dollar.
As markets saw a strong start to the week off the back of ongoing developed market stimulus and vaccine rollouts, Arthur Karas discusses Aspen Pharmacare’s results, amid some other positive company results.
Amid continued softening of local and global markets, Portfolio Manager, Peter Brooke, shares his views on the rand being one of the strongest emerging markets currencies, alongside the Mexican Peso, as well as his thoughts on whether SA equity valuations can justify further investment.
This compilation of podcasts is from interviews and recordings with contributors to TOMORROW 2020 – an annual thought leadership publication on all things related to responsible investing and green growth. To navigate to the topic or episode of your choice, go to CHAPTER MARKERS and click on the time indicator in the left-hand column.
To view the publication, click here.
TOMORROW 2020
Siboniso Nxumalo takes a look at the pressure both local and global markets have been under recently, as he shares his views on the opportunities to be found among JSE-listed companies currently.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time on the reasons behind the market recovery since last year’s COVID-19 lows and the importance of focusing on the long-term outlook while staying invested.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time on interest rates, the markets and the opportunity cost of cash.
Peter Brooke assesses the latest market news, including the impact of the Suez Canal blockage on trade and markets, the fallout from the Archegos issue in the US, and recent JSE performance driven by the banks and Bidvest.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time sharing investing insights into funds and growth assets in the global investment landscape.
Arthur Karas discusses recent JSE performance, including the impact of China tightening control over local tech companies and what this means for Tencent and Naspers, as well as latest results from Absa, Sun International and Stadio.
Portfolio Manager, Siboniso Nxumalo, dissects the latest market activity, including Massmart’s turnaround; Old Mutual’s recent trading update, which delved into the impact of increased claims during the pandemic; this week’s profit warning from Capitec; and AVI’s results.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time on managing risks and investment success in active ETF strategies and disruptive innovation.
Portfolio Manager, Peter Brooke, shares his weekly perspectives, this time on recent market performance highlights with a rotation from expensive to cheap shares in the last month.
Meryl Pick discusses the latest market news, including her views on Barloworld and shareholder pushback on executive remuneration, and company results from Bidvest, Sea Harvest and Hyprop.
Portfolio Manager, Peter Brooke, unpacks his views on the ‘good news’ Budget, considering the improved Budget deficit and focus on expense control. He also highlights the hugely important and surprising corporate tax rate cut, signaling to the world that SA is open for business – which, if the proposal comes through, will boost local profits and market values.
Portfolio Manager, Tracy Brodziak, talks latest market news, focusing on the potentially positive impact of some solid company revenues on the Budget tomorrow, as well as performance from Sasol, AngoGold, Liberty Two Degrees, and the broader property sector.
Portfolio Manager, Peter Brooke, discusses latest market performance, including whether the ongoing JSE rally can be sustained, as well as trading updates from MMI and Shoprite and what they indicate about the SA consumer.
Fund manager, Peter Brooke, shares his weekly perspectives, this time on the pent-up demand for social activity and positive market conditions anticipated in the next 12 months for those companies that have survived COVID-19.
Arthur Karas discusses recent market activity, including a falling Nedbank share price, strong global markets that are fuelling cautious investor optimism, and good trading updates from Telkom and Anglo American Platinum.
Fund manager, Peter Brooke, shares his weekly perspectives, this time on the recent share price movements of WallStreetBets, GameStop and the pockets of value available in emerging markets.
Siboniso Nxumalo discusses a continued strong showing from the market yesterday, as well as the possibility that South Africa’s current economic situation might not be as dire as we feared.
Dean Alborough talks to the effects of climate change on impact investments - and the need for businesses to be resilient to disruptive events and be able to adapt. This will not only protect the investment’s return potential, but also its positive social and environmental impact outcomes.
Scott Nadler explains why resilience is necessary but not sufficient. Resilience is about getting through an event, while adaptation is realising that you can’t go back to business as usual. For an organisation to thrive, leadership needs to be open and attentive to change, and adapt accordingly.
Meryl Pick discusses this week’s latest market news, including record levels on the JSE yesterday following standout performance from Woolworths and Tencent, which are both seeing profits driven by the pandemic environment.
Fund manager, Peter Brooke, shares his weekly perspectives, this time on the local low inflationary environment and the impact on investment returns expected from cash.
Janina Slawski discussed the importance of green growth in regenerating the South African economy. To attract sufficient capital to execute the infrastructure build needed to do this, requires developing investment vehicles, like green bonds, that are more liquid and can be more readily traded. If we can make investing in infrastructure more attractive – by offering well managed, liquid investments that offer good risk-adjusted returns – we can draw in a wider sphere of investors, including attracting international finance.
Brenton Lalu believes that building future-fit portfolios requires diversification and incorporating ESG principles, while also delivering to social and financial mandates. Taking this approach will create portfolios with better resilience to withstand ever-changing investment environments and protect against the short-term shocks. However, the measurement gap remains a risk to future-fit portfolios.
Monique Mathy-Graaf emphasises the importance of bringing the impact of an investment into equal consideration with risk and return - and, in doing so, balancing growing wealth today with better outcomes tomorrow. This requires stewarding capital through a lens of long-term justice and not simply responding to the latest justifications made by the loudest voices on public platforms. It also requires that financial institutions be given clearer guidelines to formally measure non-financial impacts… something that will require collaboration across all industry stakeholders.
Jon Duncan discussed how a focus on short-term investment returns has overshadowed the importance of pursuing returns that build long-term ecosystem resilience. Increasingly, investors are realising the tremendous scope for South African listed markets to play a more significant role in driving impact investing - in particular, for asset owners to make use of impact metrics that guide capital allocation decisions in a way that have positive societal and environmental outcomes.
Khaya Gobodo speaks to the fact that responsible investing has become central to the asset management industry. Clients no longer focus only on return outcomes, but want to know that their capital is also having a positive and meaningful impact on the society they live in. However, to make the world greener, more inclusive and substantially better requires collective action by asset managers, asset owners and asset consultants.
Tracy Brodziak shares her insights on the better-than-expected performance from Truworths this week, in a positive boost for the retail sector, as well as an encouraging uptick of foreign interest in SA Inc stocks.
Fund Manager, Peter Brooke, shares his first weekly perspective of the year, focusing on valuations in global equity markets in the midst of recent market rallies and an anticipated macro-economic recovery.
Peter Brooke unpacks the markets’ extraordinarily positive start to the New Year with the Money Show’s Bruce Whitfield, as well as how Covid-19 and its vaccines continue to drive performance.
Peter Brooke unpacks the mixed bag of performance from the JSE yesterday, sharing his thoughts on whether the vaccine-related rally has become overextended, the commodities super cycle, and how it is underpinning the broader JSE.
Fund Manager, Peter Brooke, shares his weekly perspectives, this time on his team’s key investment ideas and strategic asset allocation, focusing on how the macro-environment is influencing investment decisions over the short, medium and long-term.
Peter Brooke shares his views on the impact of the latest Brexit negotiations on the British economy; recent JSE performance, especially from medium-sized enterprises; and the drivers behind ongoing improvement in commodity prices.
Portfolio Manager, Peter Brooke, shares a longer-term perspective of significant market peaks and troughs, and lessons learned from market impacts induced by COVID-19. Global markets rallied sharply in November on the back of vaccine developments and a resolution of the US elections. Locally, the market is up 10% with his funds showing similar moves reflective of strong value rotation and risk appetite.
Tracy Brodziak discusses the astonishing market surges during November, as well as the possibility of Comair re-listing, Barloworld’s latest results, recent deal activity from Famous Brands, and market expectations for the remainder of 2020.
Portfolio Manager, Peter Brooke, shares the investment appeal of applying bottom-up solutions in the key ability to allocate hybrid instruments. Investors need to have access to all tools in building integrated strategies and he sees this as an opportunity to benefit clients. In addition to finding convertible bonds very attractive in delivering inflation plus returns.
Peter Brooke unpacks the positive day for the markets yesterday, despite SA being further downgraded by Fitch and Moody’s, discussing Naspers, Netcare, and Pepkor results, and the positive foreign interest in SA shares currently.
Portfolio Manager, Peter Brooke, shares market insights on reactions to vaccine developments with some significant moves in most equity markets up by more than 10% month-to-date. The recovery in absolute returns is in line with his view to spend cash in buying shares focusing on value style investing in positioning funds for the next period.
Arthur Karas talks the ongoing JSE rally this week, further boosted by the news that a second vaccine, this time from Moderna, is almost ready; as well as discussing the performance updates yesterday from Prosus and Naspers, Vodacom and Shoprite.
Peter Brooke shares some highlights and long-term fund positioning arising from the Joe Biden election win out of the U.S. An underweight position on the U.S and being overweight the rest of the world has allowed the funds to benefit from a stronger Rand in SA, while the US dollar is anticipated to weaken on the back of rising taxes.
Siboniso highlights the positive activity on the JSE yesterday, buoyed by the announcement of a 90% effective vaccine from Pfizer and BioNTech SE, which saw significant gains from sectors such as oil, retailers and financials.
Peter Brooke shares his perspective on fiscal credibility in South Africa post the 2020 Medium-Term Budget Policy Statement. Some good news included zero tax increases and a further relaxation on exchange controls.
Meryl Pick discusses the surprise surging of European, US and local markets yesterday, as well the Aspen Pharmacare/Johnson&Johnson deal for a future Covid-19 vaccine, and performance from Tiger Brands, Anglogold Ashanti and Naspers.
Peter Brooke discusses the lack of volume pushing JSE prices higher; the current cheap valuations of SA shares; and the opportunities being offered by the neglected small caps market.
Siboniso and Bruce look at the ongoing strengthening of the rand against a backdrop of fairly lacklustre performance from the JSE this week and a weakening dollar, as well as discussing the Medium-term Budget this afternoon and the expectation that Government needs to make some hard decisions to balance our debt.
Tracy Brodziak discusses the contribution of the financial sector to the overall positive day for markets yesterday, the ongoing market uncertainty due to the economic impact of Covid-19, improving data coming out of the market, particularly from China, and the need for returning confidence to ensure a global and local recovery.
Fund Manager, Siboniso Nxumalo, unpacks general movement on the JSE yesterday, including the performance of platinum stocks – which put on a good show, as well as that of banks, industrials, retailers and hospital groups. In addition, they also looked at opportunities in the market currently and value within SA Inc against a historical backdrop.
Peter Brooke shared insights from a recent global conference and the long-term market drivers from the upcoming US elections and the quest for yield in emerging markets.
Arthur Karas unpacks the latest market news, including the market impact of Donald Trump’s Covid-19 diagnosis, financial sector performance, current commodity prices, Multichoice/France’s Canal+ deal and foreign investment interest in BAT stocks.
Peter Brooke, a Portfolio Manager for the Old Mutual Investment Group, talks about the good news that came out of President Ramaphosa's weekly newsletter. He focuses on policies, confidence, and positive consequences on South African bond yields that could mend the debt trap, spur on business activity in growing revenue, and cost reduction.
Hywel George, Director of Investments at Old Mutual Investment Group, recently asked this very question. Is there hope for the South African economy? Are we on a slippery slope? Not quite. In fact, hope remains, and we could see an interesting turnaround in the future.
In this episode, he joins The Money Show’s Bruce Whitfield to delve deeper into specific factors impacting on the South African economy today, from debt to a viable recovery plan. They also discuss whether the country has the political will to do what it takes to achieve this, and ultimately, whether there's any hope for our economy in the long run.
Peter Brooke focuses on the power crisis in South Africa. He talks about how appropriate resolution could reduce growth constraints and reduce the potential bankruptcy Eskom may cause.
Peter Brooke analyses the recent volatility of banking and insurance stocks, commodities sector performance, SA’s unemployment stats and the impact of Covid-19 on small businesses, and Government finally acknowledging SA’s energy crisis.
Peter Brooke reflects on August as an interesting month for trends seen in Tesla leading the NASDAQ down on the back of the US and tech sector underperforming. In terms of our portfolios, we’ve tilted towards value in reflecting some of these extreme moves. Locally taking some profit in Naspers and adding to challenged banks about a month ago.
Arthur Karas discusses SA Inc shares moving into more positive territory this week, providing glimmers of hope against a gloomy backdrop. He also unpacks Bidvest’s recent results, as well as the more optimistic outlook hinted at by the market’s perspective on SA-focussed companies, and whether the current depressed environment is an opportunity for renewed interest in value investing.
Meryl Pick discusses the market turmoil that started off the week and whether this is the correction the market has been expecting – following a period of sustained buoyancy – as well as the state of the banking, resources and construction sectors and where investors are likely to find long-term outperformance.
Peter Brooke shares tech sector and country valuation trends out of the UK market. Noting the sector mix in the UK market comprising mostly of old economy banks and energy, with South Africa including the likes of Naspers in the mix.
Denmark has grown from 1% to 4% of the European market on the back of increased valuations and has the highest price-to-book ratio in the world.