Sasfin’s David Shapiro is a respected investment expert. Here he shares his investment principles.
Sasfin’s David Shapiro notched up a magnificent performance during the past three years and deservedly won top honours in the latest Raging Bull Awards. The Sasfin Value Fund (renamed the Sasfin MET Equity Fund), managed by David, was the top performer in the ASISA Domestic Equity – General, Value and Growth sectors. With an annualised [...]
Head of the Momentum Asset Management’s Africa ex-Africa investment team, Fungai Tarirah, gives 10 good reasons for investing in Africa beyond South Africa
The question of whether Africa, excluding South Africa, is an exciting destination or a risk not worth taking has been widely asked for several decades. Positive sentiment in more recent years, however, has been sharply on the rise. The continent has attracted the attention of sovereign wealth funds, pension funds and large trusts across the world. Even SA pension funds can now invest a further 5% of their assets in the rest of Africa and are slowly starting to do so.
Listed property will be impacted by six distinct themes in the period ahead. Old Mutual Investment Group MacroSolutions property analyst Evan Robins tells us what they are.
Corporate activity in the local listed property sector is likely to remain hot this year, but investors should expect a cooling off of returns.
Because of what has happened in the financial world in recent years (including quantitative easing and the high levels of slack in developed world economies), we could be looking at real yields (rates after inflation) being a lot lower for longer. This would impact on the valuation of assets classes.
Flexible fixed income mandates include exposure to several income-generating asset classes, from Government bonds and inflation-linked bonds to listed property and preference shares, providing broad and/or diversified coverage to an ever-developing fixed income landscape. Traditionally, fixed interest unit trusts specialise in one segment of an arguably vast marketplace and have lacked diversity, particularly in rising interest rate environments where capital preservation is important.
Quality multi-asset funds have really captured the imagination of institutional and individual investors since the 2008 crash. Their often record-beating equities over periods of three and five years have been particularly reassuring. The SIM Balanced Fund, managed by Sanlam Investment Management (SIM) chief investment officer Gerhard Cruywagen and head of equities, Patrice Rassou, is no exception. A Sanlam flagship with R4.7bn under management, it has generated an impressive 53% nominal return during the past five years.
Greatest concern is about exotic exchange-traded notes (ETNs) that are not necessarily asset based and sometimes unable to pay up, and certain exchange-traded funds (ETFs) that can be illiquid and/or subject to the likes of poor risk management.