Kagiso Asset Management’s Gavin Wood highlights the structural market issues that he believes create an ongoing opportunity. Article by Patrick Cairns.
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Discovery of the Omicron variant, which has seen others follow the UK ban on flights from SA, is a blow to SA’s tourism sector. The rand, which slumped to its weakest level in a year at the end of last week, could be set for more volatility as the discovery of a new Covid-19 variant and the resulting travel bans on the country battered its markets. Article by Andries Mahlangu with insights by Abdul Davids – Portfolio Manager for Kagiso Asset Management.
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Richemont, the Swiss luxury goods group controlled by Johann Rupert, crossed the R1-trillion level in market valuation for the first time last week, joining five other stocks on the JSE that have achieved the milestone. The group’s share price surges 10% to a record R223.93, its biggest rise in a year, after interim results beat expectations. Article by Andries Mahlangu with comment from Aslam Dalvi – Portfolio Manager for Kagiso Asset Management.
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Savanna marketing manager Eugene Lenford says a shortage of the drink in some bottle stores in SA is due to a global glass shortage caused by shipping and production delays as a result of the Covid-19 pandemic. Article by Katharine Child with comment by Sarah le Roux – Investment Analyst for Kagiso Asset Management.
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An incentive is needed for the listing of companies on the smaller end of the stock exchange, which is facing an existential crisis, said AmaranthCX director and owner Paul Miller on Monday. By Martin Creamer.
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Established in 1998, Curro Holdings, Limited (Curro) is a leading for-profit independent school provider in South Africa, actively involved in the development, acquisition, and management of independent schools for learners that range from the age of three months to Grade 12. Article by Liezel Thorne.
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Unit trusts were originally designed to give ordinary people exposure to the JSE, and were particularly focused on monthly contributions. Originally, general equity was the only unit trust sector. But over time other sectors such as balanced funds and money market funds have developed more strongly… Article by Stephen Cranston.
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Food manufacturer Libstar says rapid introduction of new and improved products has helped it outperform peers in its first half to end-June. It is confident in its position as the industry grapples with rising input costs, more frugal customers and shifts in shopping behaviour. Written by Karl Gernetzky with comment from Dirk van Vlaanderen – Portfolio Manager for Kagiso Asset Management.
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The rise of rhodium, the world’s most expensive precious metal, has made it the No. 1 revenue stream of the biggest platinum miners. While the metal is well shy of its March peak, rhodium still accounted for 45% of Anglo American Platinum’s first-half revenues. That’s more than platinum and palladium put together. Article by Bloomberg with comment from Mandi Dungwa – Portfolio Manager for Kagiso Asset Management.
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Gold Fields would consider joint ventures, including for its key Ghana operation, to keep the miner’s output at the peak it expects to reach in three years time. Article by Felix Njini with insights from Mandi Dungwa – Portfolio Manager for Kagiso Asset Manager.
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With South Africa needing more listings on its stock exchanges, what can be done to encourage companies in general and junior mining companies in particular to go public? Written by Martin Creamer.
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Chemicals and energy group Sasol expects to return to profitability in the year to end-June, boosted by a recovery in chemicals prices and higher oil prices in rand terms. Full-year headline earnings per share are expected to be as much as R41. Article by Andries Mahlangu with insights from Abdul Davids, head of research for Kagiso Asset Management.
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Chemicals and energy group Sasol says bumper oil prices helped offset a fall in chemical production in its year to end-June, with the group’s turnaround still on track as it deals with the fallout from delays and cost overruns at its US Lake Charles project. Written by Karl Gernetzky with commentary by Abdul Davids, head of research for Kagiso Asset Management.
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Although China accounts for more than 65% of iron-ore demand – making it home to some of the industry’s largest customers – the persistent slowing of the Chinese economy and drop in iron-ore prices in 2015 resulted in local miners having to restructure their businesses to adapt, consequently enabling them to capitalise on the price recovery. Article by Khutso Maphatsoe with insights from Mandi Dungwa, portfolio manager for Kagiso Asset Management.
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As expected, the majority of Prosus shareholders voted in favor of a complex new attempt to raise the share price, along with the share price of its parent company, Naspers. Article by @ernestalonso.
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Sasol CFO and long-serving employee Paul Victor has resigned from the company after a tumultuous year in which the group’s balance sheet was brought to the brink and then pulled back, ultimately averting a rights issue. Article by Lisa Steyn with commentary by Abdul Davids – head of research for Kagiso Asset Management.
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aandelemarkte het onlangse jare hiredie en daardie kant toe gespring, met Suid-Afrikaanse aandele geen uitsondering nie. Die afgelope jaar het ons gesien hoe die FTSE/JSE-indeks van alle aandele sowat ‘n derde van sy waarde inboet, maar dit is nou reeds meer as 35% hoer as in Maart 2020. Deur Leon Kok.
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A number of South Africa’s top asset managers have teamed together against the complex shareholding structure and lack of management alignment in South Africa’s two largest businesses – Naspers and Prosus. Written by Justin Rowe-Roberts.
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South Africans are prioritising medical aid membership despite rising unemployment amid the pandemic, supporting Netcare’s partial recovery as elective surgeries resume. Article by Nick Wilson with commentary by Mohamed Mitha – investment analyst for Kagiso Asset Management.
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Covid-19 has brought mixed fortunes for the discount pharmacy and healthcare group, but administering vaccines has the potential to bring new customers through its doors. Article by Stephen Gunnion with insights from Sarah le Roux – investment analyst for Kagiso Asset Management.
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RFG Holdings, whose products include Bull Brand corned beef, Hinds spices and Bisto gravies, says it is optimistic about healthy local and international demand for its products in coming months amid rising fruit juice and pie sales. Article by Karl Gernetzky with commentary from Dirk van Vlaanderen – portfolio manager for Kagiso Asset Management.
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Energy and chemicals group Sasol has reached a deal to sell most of its stake in a pipeline company in Mozambique for more than R4bn, the latest disposal for a company seeking to address the fallout from its Lake Charles project in the US. By Karl Gernetzky and Lisa Steyn with commentary from Abdul Davids – head of research for Kagiso Asset Management.
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MTN ZAKHELE Futhi, the mobile operator’s special purpose empowerment vehicle, has received a further R75 million to lessen the blow from MTN Group’s decision to withhold the final dividend for the year to the end of December 2020. Article by Dineo Faku with commentary by Abdul Davids – head of research for Kagiso Asset Management.
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The asset management landscape is still changing, but at a glacial pace. According to Alexander Forbes’s annual retirement survey, there were no changes in 2020 to the composition of its most popular survey, the “Large Manager Watch” (LMW) — it remains the playground of the Allan Grays and Coronations of the world. Written by Stephen Cranston.
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THE JSE TERMINATED the FTSE/JSE Gold Mining Index in line with its move to international standards of classification as South African stocks delivered another quarter of double-digit growth in the first quarter of 2021. Article by Dineo Faku with commentary from Abdul Davids – head of research for Kagiso Asset Management.
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Absa, Satrix and Kagiso Asset Management lead the pack.
Independent investment research company Morningstar Research South Africa, a subsidiary of Morningstar, has named the winners of its 2021 South Africa Fund Awards.
Absa won two awards – for the Best Bond Fund as well as Best Cautious Allocation Fund. Satrix scooped Best Fund House: Larger Fund Range and Kagiso Asset Management won Best Fund House: Smaller Fund Range. Article by Moneyweb.
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Standard Bank has reinstated its dividend despite a sharp fall in full-year profit as Covid-19 placed strain on its customers, resulting in significantly higher credit impairments. Article by Stephen Gunnion with comment from Meyrick Barker – investment analyst at Kagiso Asset Management.
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Sasol, which flirted with disaster in March last year when its share price went into free-fall amid a global oil price collapse and concerns about spiralling debt, is back in calmer waters. Article by Nick Wilson with comment from Abdul Davids – portfolio manager at Kagiso Asset Management.
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Spur Corporation is battening down the hatches for a potentially volatile next six months amid the spectre of a third wave of infections. Article by Nick Wilson with comment from Dirk van Vlaanderen – portfolio manager at Kagiso Asset Management.
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Sibanye Stillwater Ltd. said Johannesburg-based gold miners AngloGold Ashanti Ltd. and Gold Fields Ltd. would both fit with the company’s acquisition strategy. Article prepared by Bloomberg with commentary from Mandi Dungwa – portfolio manager at Kagiso Asset Management.
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Morningstar has announced the finalists in the 2021 South Africa Fund Awards. The awards ceremony is usually held in February or March, but there will be no live event this year due to Covid-19. As in the past, the awards are limited to just seven fund categories, based on risk-adjusted performance. There are also two awards for top-performing firms. By Patrick Cairns, Citywire.
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Sasol, which flirted with disaster in March last year when its share price went into free-fall amid a global oil price collapse and concerns about spiralling debt, is back in calmer waters. By Nick Wilson with comments by Abdul Davids – portfolio manager at Kagiso Asset Management.
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Confident of a rebound in key markets, Bidcorp, the global food services company spun off from Bidvest in 2016, held on to its interim dividend even though a good start to its half-year was derailed by another wave of Covid-19 infections. By Karl Gernetzky with insights from Mohamed Mitha – investment analyst at Kagiso Asset Management.
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The likes of JP Morgan and Goldman Sachs are calling the start of a new global commodity supercycle. Does that mean boom times for South African resource stocks? By Sasha Planting with commentary by Abdul Davids – portfolio manager at Kagiso Asset Management.
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The Raging Bull Awards 2021 took place on the evening of the 2nd February. Up for grabs were 30 certificates for the best funds in their categories and eight Raging Bull trophies for the top-performing funds for performance to the end of 2020, with the highlights being the Offshore Manager of the Year and the South African Manager of the Year awards.
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Gold Fields named former Anglo American Platinum boss Chris Griffiths as its new chief executive office as the company seeks a solution for its last gold mine in South Africa. Written by Felix Njini with commentary by Mandi Dungwa – portfolio manager at Kagiso Asset Management.
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South African mining dealmaker Neal Froneman is considering retiring in two to three years time, but would first like to double the size of Sibanye Stillwater. Article by Felix Njini with commentary by Mandi Dungwa – portfolio manager at Kagiso Asset Management.
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