Invest with Perspective

In this podcast, Portfolio Manager Jason Swartz shares his perspective on how the evolving conflict is influencing markets. He unpacks how we think about risk in volatile environments and explains how our portfolios are positioned to remain resilient, disciplined, and focused on long‑term outcomes.Listen now.Thanks for listening! Follow us on Linkedin.

Highlights: • Credit spreads are tightening—even as risk rises • What’s driving demand in a weak-growth environment • How auction dynamics and bank guidance skew pricing • Fair value vs. mark-to-market: Why it matters to investors • Intengo’s approach to building better fair value models Thanks for listening! Follow us on Linkedin.

🎙️ Amid the current market turmoil sparked by further trade tariff announcements from the Trump administration, that were far more severe than the market anticipated, our Head of Equities Research Meryl Pick spoke to Kaya FM this week on her team's perspective on the tariffs, the market chaos and the threat of SA’s exclusion from the AGOA trade treaty, an outcome that may not weigh as heavily on our local economy than many think.Thanks for listening! Follow us on Linkedin.

In this episode of The Money Show, Peter Brooke discussed the latest market trends. Peter talked about the remarkable rise of gold, the implications of Trump's tariffs on the global economy, and the challenges facing South Africa's industrial sector. This episode marks Peter's final appearance as a regular guest on our show. Tune in for his valuable insights. 🎙️ Thanks for listening! Follow us on Linkedin.

📌 Premier GroupExpected full-year earnings growth of 20-30%Maintained margins despite soft commodity cost increasesStrong capital expenditure discipline and pricing strategy📌 RaubexEarnings set to rise to 25%Diversified away from Sanral into infrastructure and miningThe Bauba acquisition is promising but poses cash flow challenges📌 Gold FieldsShare price down 5% after Gruyere Gold Mine offer rejectedConcerns over overpaying at elevated gold pricesInvestors cautious about large-scale M&A activity at the top of the cycle Thanks for listening! Follow us on Linkedin.

Absa appoints Kenny Fihla as CEO – A move expected to bring much-needed stability and leadership clarity.Thungela Resources’ results – Despite a 27% drop in earnings due to weaker coal prices, the company remains resilient with strong dividends and improved export prospects.Transnet’s rail performance – Notable improvements have strengthened South Africa’s mining outlook.🎧 Head of Responsible Investment Research Tana Mongwe unpacks these key developments.Thanks for listening! Follow us on Linkedin.

The latest budget proposal has left investors with more questions than answers. Will the VAT increase go through? What’s the impact on fiscal stability? And how have markets reacted?Join Portfolio Manager Jason Swartz as he unpacks the key takeaways and what they mean for South Africa’s economic outlook:-      The revised VAT proposal and its implications-      South Africa’s fiscal outlook and debt stabilisation efforts-      Market reactions and investor sentiment Tune in now.Thanks for listening! Follow us on Linkedin.

Join Portfolio Manager Meryl Pick as she unpacks the latest market developments:Prosus and Naspers stock drop – down nearly 8%, while Tencent fell only 4%. The Just Eat acquisition may have unsettled investors expecting a focus on profitability.What’s the right valuation for food delivery? The market still debates whether Just Eat is a logistics company or a true tech platform.Sasol earnings down 30% – but free cash flow is improving. Could this indicate a recovery path?The big picture: What these moves signal for South Africa’s market outlook.Thanks for listening! Follow us on Linkedin.

Key takeaways from The Money Show:✅ Santam: Strong recovery post-COVID; net income up 51%. ✅ Aspen: New contracts and higher margins drive a 12% share price jump. ✅ Bidvest: Diversified results – international growth offsets local economic challenges.Thanks for listening! Follow us on Linkedin.

📉 US equities: Reached an all-time high on Feb 19 before declining due to inflation worries and weak economic data.🇪🇺 Europe’s strength: European equities outperformed, gaining 13% YTD, supported by strong economic data and improving energy dynamics.🏅 Gold’s surge: Up 10% this year, reflecting investor demand for safe-haven assets amid geopolitical uncertainty.🇿🇦 SA market trends: Positive performance, mainly driven by Naspers and Prosus, thanks to Tencent’s strength and renewed interest in Chinese tech.⚖️ Political developments: SA’s budget speech delay and load shedding underscored ongoing risks, though the rand remained stable.🎯 Investment takeaway: Market uncertainty and regional divergence highlight the importance of risk management.Thanks for listening! Follow us on Linkedin.

Join Portfolio Manager Meryl Pick as she unpacks the latest market developments:📉 Prosus and Naspers stock drop – down nearly 8%, while Tencent fell only 4%. The Just Eat acquisition may have unsettled investors expecting a focus on profitability.🚚 What’s the right valuation for food delivery? The market still debates whether Just Eat is a logistics company or a true tech platform. ⚡ Sasol earnings down 30% – but free cash flow is improving. Could this indicate a recovery path?🌍 The big picture: What these moves signal for South Africa’s market outlook.Thanks for listening! Follow us on Linkedin.

🎙 Join Portfolio Manager Jason Swartz as he unpacks the surprising postponement of South Africa’s Budget Speech. Jason shares insights on the implications for the Government of National Unity (GNU) ⚖️ and the broader economy 📈.🔑 Key takeaways:💰 The budget was delayed due to disagreements over a potential VAT hike.⚖️ This could signal cracks in the GNU – or proof that it's working.🏛️ The ANC has been asserting its authority within the coalition, as seen with recent policies like the NHI and Expropriation Act.📉 Market reaction was muted, suggesting investors may see the GNU as functioning despite political noise.Thanks for listening! Follow us on Linkedin.

🎧 On The Money Show, Portfolio Manager Arthur Karas shared key market updates:💰 Anglo American Platinum’s R16.5bn shareholder payout – A strategic move as Anglo American streamlines its portfolio, focussing on iron ore and copper. Limited new platinum mine investments could tighten future supply, supporting prices.🏗️ Afrimat’s diversified strategy – Despite short-term pressure from rail constraints and weak local demand, long-term growth is underpinned by Lafarge’s cement turnaround and efficiency improvements at Nkomati Anthracite Mine.🥚 Quantum Foods’ strong recovery – After last year’s avian flu outbreak, the company has ramped up egg production by 70%. While egg prices dipped 13% due to better availability, the outlook for profitability remains positive.Thanks for listening! Follow us on Linkedin.

🎧 On The Money Show, Portfolio Manager Peter Brooke shared key market updates:📈 Telkom’s strong Q3 – Despite flat revenue, EBIT surged 28%, boosting its share price by 8%. Smart cost management and market share gains in mobile and data are driving growth.🌍 Leadership moves – Capitec & BAT made strategic director appointments, bringing global expertise to drive future success.💰 Rand strength and commodities – The rand was the best-performing currency globally, backed by rising gold, copper, and iron ore prices, while China’s equities showed resilience.Thanks for listening! Follow us on Linkedin.

Listen in as Reza Fakie, Portfolio Manager of the Old Mutual Global Managed Alpha Equity Fund, shares insights on what’s shaping global markets in 2025. He also analyses emerging markets vs developed markets, and where opportunities lie.  🔹 US and China led global returns in 2024 🔹 Large caps, momentum, and growth dominated 🔹 Emerging markets' growing influence 🔹 Market disruptions to watch in 2025 Thanks for listening! Follow us on Linkedin.

As markets enter 2025, investors face a dynamic landscape of shifting interest rates, technological disruption, and geopolitical challenges. In this video, our CIO, Siboniso Nxumalo, provides in-depth analysis and actionable insights to help investors navigate the year ahead with confidence.✔️ The impact of interest rates on portfolio positioning.✔️ China’s economic revival and the influence of the US under Trump’s administration.✔️ Opportunities in emerging markets versus developed markets.✔️ Key South African sectors to watch.✔️ The role of technology and sustainability in shaping investment strategies.Thanks for listening! Follow us on Linkedin.

🎧 Listen to Portfolio Manager Peter Brooke from Old Mutual Investment Group on Radio 702’s The Money Show as he unpacks the anticipated market volatility driven by Donald Trump’s policies. Trump’s inauguration is scheduled for later this month. Peter also highlights the strong performance of the South African equity market in 2024 and gives insights into his stock pick, Sun International. Thanks for listening! Follow us on Linkedin.

 US equities have continued their winning streak following Donald Trump’s victory in the US election. Concerns remain around the long-term impact of this election outcome, particularly for emerging markets. Local equities started the month of December strong, lifted by Naspers' positive results earlier in the week. However, GDP data disappointed on Tuesday, which led to a reversal of equity gains. South Africa’s growth prospects remain vulnerable to various factors, but we remain cautiously optimistic about the improving outlook. Thanks for listening! Follow us on Linkedin.

For the latest market movements and key company updates, listen to Portfolio Manager Peter Brooke’s interview on The Money Show,  where he unpacked the following key issues:📈 Super Group's surge: A potential sale of their Australian unit sparks a 14% share price increase. 📊 Boxer listing: A promising new market entrant valued at R54/share, showcasing robust growth potential. 🏥 Netcare's resilience: Operating profit up by 12.6%, but higher interest rates remain a challenge. ⛏ Barloworld's struggles: Declines in equipment sales highlight challenges in the mining sector. 🐟 Oceana's gains: A bright spot with profits up 9.5%.Thanks for listening! Follow us on Linkedin.

Investment Analyst Siya Mbatha dives into the latest market trends affecting South Africa and the global stage. This market update covers:  Rand’s volatility: Reacting to Donald Trump’s recent election victory and potential trade policy shifts, while recent measures from the Fed and China’s stimulus offer some relief.Global oil prices: Supply concerns due to US production disruptions and potential sanctions on Iran and Venezuela have increased pressure on oil prices.Siya explains how these factors may influence South African markets and what to keep an eye on in the coming weeks. Tune in for a recap of this week’s global and local market dynamics.Thanks for listening! Follow us on Linkedin.

In this episode Jason Swartz Portfolio Manager at Old Mutual Investment Group, provides an insightful analysis of Donald Trump's return to the White House and its potential implications for markets, especially in South Africa. With the US Senate now in Republican hands, Trump's approach is likely to be inflationary, heightening global interest rates and strengthening the dollar — a challenging environment for emerging markets.  But there’s a silver lining: Jason discusses how South Africa’s own growth drivers and structural reforms may support the country’s economy in navigating these global pressures. Listen in as he offers guidance on staying focused on fundamentals and investing for the long term amid the uncertainty.  Thanks for listening! Follow us on Linkedin.

Listen to Peter Brooke from Old Mutual Investment Group on Radio 702’s The Money Show as he shares valuable insights into the US election’s influence on markets, China’s economic actions, and how global events could impact South African investors. Listen now to gain perspectives on how these dynamics are shaping the investment landscape. Thanks for listening! Follow us on Linkedin.

In this quick take, Portfolio Manager Jason Swartz highlights the Medium-Term Budget Policy Statement’s key takeaways. From critical infrastructure funding and support for Transnet to conservative yet realistic fiscal planning, Jason breaks down what these updates mean for South Africa’s financial markets.Listen in for insights on where growth opportunities lie and how markets reacted to the announcement.Thanks for listening! Follow us on Linkedin.

Our National Sales Manager Hennie Grové discussed a range of topics with CIO Siboniso Nxumalo, one of them the launch of the Two-Pot System, which is expected to boost the retail sector, but preliminary numbers show that it has not yet had a significant impact. They also talk about our funds performing well in the previous quarter, most in the second quartile, benefitting from South Africa and losing slightly from resources.As markets continue to be volatile, diversification remains the best strategy. Thanks for listening! Follow us on Linkedin.

Portfolio Manager Jason Swartz, in conversation with Refilwe Moloto on Kaya FM, shared insights on the prospects for South African investments.📈 He highlighted that, despite recent market fluctuations, local stocks are showing strong performance, driven by positive domestic developments and growing investor confidence. However, he stressed the importance of increasing foreign interest to maintain this positive momentum.Thanks for listening! Follow us on Linkedin.

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. Thanks for listening! Follow us on Linkedin.

🎧 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.Thanks for listening! Follow us on Linkedin.

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. 🌿📈Thanks for listening! Follow us on Linkedin.

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?Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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. Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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:- Financial market uncertainty amidst coalition talks- Rand volatility and potential sell-off scenarios- Comparisons with historical events and similar emerging markets like Turkey- The impact of local political decisions on global macroeconomic trendsThanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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. Thanks for listening! Follow us on Linkedin.

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!Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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. Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

Meryl Pick considers how the latest budget announcements and upcoming elections could impact global investor perceptions of SA as an investment destination.Thanks for listening! Follow us on Linkedin.

Thanks for listening! Follow us on Linkedin.

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.Thanks for listening! Follow us on Linkedin.

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. Have our latest investment-related podcasts sent directly to your mobile. Subscribe here.Thanks for listening! Follow us on Linkedin.

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. Thanks for listening! Follow us on Linkedin.

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.Have our latest investment-related podcasts sent directly to your mobile. Subscribe here.Thanks for listening! Follow us on Linkedin.