The Investment Perspective, with Ninety One

Inflation has been on a wild ride since the outbreak of war in Europe, which sent it soaring. Then central banks came to the rescue by raising rates. But has inflation bottomed, and is the line of least resistance to the upside as Trump tariffs loom? John Stopford considers strategies to mitigate the inflationary threat.  Hosted on Acast. See acast.com/privacy for more information.

SA faces the looming Budget, while in the US, Donald Trump is wielding his power as only he can. Against a backdrop of economic growth uncertainty, currency movements and the vagaries of political manoeuvring in a world facing a potential trade war, Malcolm Charles sets out why this environment calls for an active approach and how they’re positioning to navigate it. Hosted on Acast. See acast.com/...

Gail Daniel, the portfolio manager of Ninety One Manged Fund, analyses Trump’s policy impact on South Africa, covering the Rand, SA bonds, and the Fund’s positioning. She explains the Fund’s offshore preference over SA Inc., highlighting key investment risks and opportunities. Hosted on Acast. See acast.com/privacy for more information.

Central banks have had a busy start to the year. The Bank of Japan began with an interest rate rise, followed by decisions from the South African Reserve Bank, the ECB and the all-important US Federal Reserve. Ruen Naidoo discusses how expectations have changed from this time last year and considers the implications for SA fixed income investors. Hosted on Acast. See acast.com/privacy for more inf...

The word ‘optimism’ has been conspicuous by its absence for many years when investors and analysts have spoken of the SA economy. Last year, however, it made a tentative return. The GNU has been cheered as the catalyst, but it’s the stabilisation of the economy that is the most encouraging. Sisamkele Kobus discusses the economic indicators of importance and covers inflation, GDP, unemployment and...

According to a major American bank the US bond market is in the sixth year of the third great bear market since 1790. But in September of 2024, the tide appeared to turn, before stubborn inflation and a robust US economy knocked the bulls off their perch. Add to that the threat of tariffs and suddenly it’s bear business as usual. Jason Borbora-Sheen unwraps a complicated asset class and sets out w...

With the US performing strongly and China showing signs of turning a corner, a global economic recovery is building. Opportunities abound, but Philip Saunders argues 2025 requires a new investment playbook. He explores where the smart capital will be heading – and where the pitfalls lie. A long, comprehensive and essential listen. Hosted on Acast. See acast.com/privacy for more information.

Any review of asset-class performance in 2024 would doubtless headline ‘Big Tech’, Bitcoin and geopolitics. But delving below the headline grabbers are unloved stocks that have surprised the sceptics. And to great effect. John Biccard discusses his big call ahead of the May 29th elections, how that played out and where he’s seeking opportunity now. Hosted on Acast. See acast.com/privacy for more i...

How do you employ earnings revisions as an investment style, and what role does valuation play when evaluating stocks? Samantha Hartard sets out the SA 4Factor team’s investment approach, and how they apply their thinking to the outlook for SA Inc. Hosted on Acast. See acast.com/privacy for more information.

The day after Thanksgiving has become more than a time to sleep off excesses and patch up family squabbles. ‘Black Friday’ has become a day when discounts are dangled to the delight of consumers, and South Africa has not been spared. To mark it Achumile Mashalaba assesses the JSE retail sector, recent results and trading updates and the potential impact of the two-pot system regime. Host...

The two-pot retirement regime has revolutionised South Africa’s retirement system. As can be expected with any major change, the industry has raised questions and suggested changes. National Treasury responded accordingly, so Janine Langenhoven clarifies some of the key amendments and the implications for advisors and their clients. Hosted on Acast. See acast.com/privacy for more information.

Bond markets were feeling rather buoyed by falling inflation and an interest-rate cutting cycle that promised many more moves to the downside. Then along came the US Election and a Trump victory. The campaign that promised even lower inflation was greeted by market participants that disagreed. Trump’s potential policies once in office have been interpreted as reflationary and bond yields have been...

In a feat of remarkable political resurrection, Donald Trump is to be the 47th President of the United States. As results trickled in, US equity futures started rising, presumably assuming that Trump will be a business-friendly president. But can the initial reaction be maintained, and what about other asset classes, particularly bonds? Philip Saunders assesses the implications of this seismic pol...

The Medium Term Budget Policy Statement it is an important precursor to the real deal in February 2025, and often serves as a useful barometer of SA’s fiscal state. Growth is sluggish, income crimped and deficits will widen. However, there were no unpleasant surprises and although the rand and bond markets weakened, there was a gratifying air of predictability. Adam Furlan sketches out the speech...

Gold has astonished in 2024, making record highs in dollar terms with repetitive regularity. And yet the high-profile gold gathering in Denver Colorado, recently concluded, was not as well attended as in previous years. George Cheveley was there, and although he conceded that a cautious pall hung over the conference, he came away enthused by the yellow metal’s prospects. He looks at why gold is wh...

In this first instalment, Marc Lindley delves into a clutch of the questions keeping investors up at night – from solutions for ‘lazy cash’ to walking the trust tightrope. Hosted on Acast. See acast.com/privacy for more information.

South African domestic equities have dusted themselves down and shaken off their inferiority complex. Against the backdrop of the GNU, relative electricity supply consistency, falling inflation and interest rates, the JSE is matching its overseas counterparts. Rehana Khan looks at the sectors and companies that are benefiting and explores whether the trend is to become embedded. Hosted on Aca...