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News Archive: 2019

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17 December 2019

RMB Holdings’ unbundling met positively – Moneyweb

The announcement by RMB Holdings (RMH) that it intends unbundling its 34.1% stake in FirstRand has been largely welcomed by local asset managers. The holding company notified the market on Tuesday that it intends distributing this stake to shareholders at some point next year. Patrick Cairns reports with commentary by Meyrick Barker, investment analyst for Kagiso Asset Management.
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17 December 2019

Tributes for a pioneer – Moneyweb

Of all the words that could be used to describe Allan Gray, the founder of the firm that carries his name, perhaps the most apt is ‘enigmatic’. “He would sometimes remind me of some earnings numbers of valuation metrics I quoted in our discussions from a few years before – in many cases after I had forgotten them already!” Article by Patrick Cairns with insights from Abdul David’s, head of research for Kagiso Asset Management.
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17 December 2019

All eyes on Kagiso Asset Management – Business Live

Kagiso Asset Management must surely now be the go-to BEE asset manager for equity and balanced portfolios – Stephen Cranston reports.
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12 November 2019

What are sharia-compliant investments and how should I save for a rainy day – Business Day

Requirements are underpinned by Islam’s prohibition on charging interest and the avoidance of companies that are deemed to cause social harm, for example gambling, alcohol and weapons manufacturing. Money reporter comments with input from Abdulazeez Davids, portfolio manager at Kagiso Asset Management.
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12 November 2019

Delta sees good traction with state tenants lease renewals – Business Day

Investors in South Africa probably feel that they already have plenty to worry about. Low market returns, a struggling economy and ongoing political uncertainty make this a tricky environment. Patrick Cairns reports following talk by Gavin Wood (chief investment officer at Kagiso Asset Management) presented at ‘Meet the Managers’, Cape Town.
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12 November 2019

Bruised – but ignore the noise – Financial Mail

Investors in South Africa probably feel that they already have plenty to worry about. Low market returns, a struggling economy and ongoing political uncertainty make this a tricky environment. Patrick Cairns reports following talk by Gavin Wood (chief investment officer at Kagiso Asset Management) presented at ‘Meet the Managers’, Cape Town.
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12 November 2019

Six trends investors should watch – Moneyweb

Investors in South Africa probably feel that they already have plenty to worry about. Low market returns, a struggling economy and ongoing political uncertainty make this a tricky environment. Patrick Cairns reports following talk by Gavin Wood (chief investment officer at Kagiso Asset Management) presented at ‘Meet the Managers’, Cape Town.
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12 November 2019

Kagiso Stable Fund a good option for risk-averse investors – Sowetan Live

The mining company, whose primary source of revenue is a 20.5% stake in a chrome joint venture with globally diversified miner and commodity trader Glencore, reported profit of R165m for the six months to end-June, compared with a profit of R425m the year before. Article by Allan Seccombe with comment from Mandi Dungwa – portfolio manager at Kagiso Asset Management.
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12 November 2019

Merafe withholds dividend after profit plunges on weak chrome prices – Business Day

The mining company, whose primary source of revenue is a 20.5% stake in a chrome joint venture with globally diversified miner and commodity trader Glencore, reported profit of R165m for the six months to end-June, compared with a profit of R425m the year before. Article by Allan Seccombe with comment from Mandi Dungwa – portfolio manager at Kagiso Asset Management.
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12 November 2019

Declining economy catches Mpact flat-footed – Business Day

The decline in economic growth in SA and poor export conditions have left Mpact, the largest paper and plastics packaging and recycling business in southern Africa, with excess stock in the six months to end-June. Article by Siseko Njobeni with commentary by Dirk van Vlaanderen – associate portfolio manager at Kagiso Asset Management.
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12 November 2019

Omnia prices R2bn rights issue – Moneyweb

Omnia to use the proceeds to reduce its debt. The firm said it had also agreed an underwriting deal with investors Allan Gray, Coronation Asset Management, Foord Asset Management, Kagiso Asset Management, Old Mutual Investment Group and Prudential. Article by Nqobile Dludla.
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12 November 2019

Sasol: investors dump portfolio stalwart – Financial Mail

Sasol’s costly Lake Charles project has battered its shares to 10-year lows, but a rights offer is not on the cards – yet. Article by Lisa Steyn with commentary by Abdul Davids,head of research at Kagiso Asset Management.
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12 November 2019

Strong support for Omnia rights issue – inceConnect

The chemicals, fertiliser and explosives group says its R2 billion capital raise was fully subscribed.

The vast majority of Omnia’s shareholders have taken up their rights in a deeply discounted capital raise aimed at recapitalising the group. Article by Stephen Gunnion.
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12 November 2019

Falling rentals bite SA Corporate’s dividend – Business Day

SA Corporate Real Estate, which has recently rebuffed takeover offers from Dipula Income Fund and Emira Property Fund, expects distributions to fall as much as 4% in its financial year as it battles with falling rental rates due to SA’s tepid economic conditions. Article by Karl Gernetzky with comment from Rahgib Davids – investment analyst at Kagiso Asset Management.
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12 November 2019

Sasol’s coal sale mystery – Financial Mail

Sasol’s silence on the possible sale of its local coal assets has stoked speculation that its balance sheet is in worse shape than feared. Article by Lisa Steyn with insights by Abdul David’s, head of research for Kagiso Asset Management.
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12 November 2019

Lower prices and soft demand hit Mondi – Business Day

Paper and packaging group’s earnings dive 18% in the three months to end-September. The lower average prices and reduced demand for its products that Mondi experienced in the three months to end-September are likely to spill into the fourth quarter. Article by Karl Gernetzky and Siseko Njobeni with commentary by Dirk van Vlaanderen, associate portfolio manager at Kagiso Asset Management.
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12 November 2019

Hunt for palladium riches sends SA miners abroad – Moneyweb

The volatility in SA has miners seeking to balance exposure. Southern Africa is home to the world’s richest platinum deposits, but when Impala Platinum pondered how to invest its windfall profits, it chose North America instead. Article by Felix Njini (Bloomberg) with commentary by Mandi Dungwa, portfolio manager at Kagiso Asset Management.

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12 November 2019

Conditional investing calls for a creative approach – Moneyweb

Investors should expect a different return profile from local Shari’ah funds. There are currently 1 607 unit trusts and exchange-traded funds registered in South Africa. According to analysis by Glacier, just 24 of those are Shari’ah compliant. Article by Patrick Cairns with commentary by Jihad Jhaveri, head of process at Kagiso Asset Management.
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17 May 2019

Fund managers open up about the ‘landmines’ of 2018 – Moneyweb

In an environment where stock market returns have been disappointing, avoiding companies that have suffered a significant share price decline has been even more important than usual. Ingé Lamprecht comments.

17 May 2019

The big opportunity in small stocks – Money Marketing

We believe that the South African market is particularly materially mispricing smaller companies at the moment and we identify some of the potential reasons for this below. If we are correct, this presents the clients of skilled, contrarian, medium-sized asset managers with an unusually attractive (perhaps temporary) opportunity for very high, market-beating returns from here on. By Gavin Wood, CIO, Kagiso Asset Management

26 April 2019

The big opportunity in small stocks – Money Marketing

We believe that the South African market is particularly materially mispricing smaller companies at the moment and we identify some of the potential reasons for this below. If we are correct, this presents the clients of skilled, contrarian, medium-sized asset managers with an unusually attractive (perhaps temporary) opportunity for very high, market-beating returns from here on. By Gavin Wood, CIO, Kagiso Asset Management
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26 April 2019

Fund managers open up about the ‘landmines’ of 2018 – Moneyweb

In an environment where stock market returns have been disappointing, avoiding companies that have suffered a significant share price decline has been even more important than usual. Ingé Lamprecht comments.
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26 April 2019

Investors have reason to be positive in the long term – Business Live

At the Investment Forums, Gavin Wood, chief investment officer at Kagiso Asset Management, said Kagiso is finding exciting value in mid-cap shares with a market capitalisation of less than R15bn. Laura du Preez comments.
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8 February 2019

SA Manager of the Year: Allan Gray sets new record – Saturday Star – Personal Finance

The Raging Bull Awards, hosted each year by Personal Finance, ProfileData and PlexCrown, and held this year in association with Vunani Limited, recognises outstanding performance by unit trust fund managers.
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8 February 2019

Raging Bull Award for black excellence goes to Kagiso – Personal Finance

Kagiso Asset Management’s risk-adjusted investment performance over the past five years across the funds and asset classes where they compete were exemplary. Ryk de Klerk comments.

8 February 2019

Why choosing a top-performing unit trust may be dangerous – Business Insider

Investing in a top-performing unit trust can be a treacherous strategy – as is dumping the biggest loser. Johann Biermann comments.
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