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In the next installment in our series of short videos on asset allocation, we ask to what extent the higher offshore limit increases the risks of making bad decisions – for both fund managers and fund selectors. Written by Patrick Cairns, with comment from Abdul Davids – head of research for Camissa Asset Management.
The battle for Royal Bafokeng Platinum (RBPlat) intensified this week when Northam made a R50bn offer to buy out minority shareholders, raising the stakes just as the Competition Tribunal was about to announce its decision on Impala’s bid for the same target. Article by Dineo Faku, with comment from Mandi Dungwa – portfolio manager for Camissa Asset Management.
The deal is key to Gold Fields’ expansion in the Americas. Yamana Gold is at the centre of a takeover battle after two Canadian mining companies teamed up on an unsolicited $4.8 billion offer to break up an earlier merger agreement with South Africa’s Gold Fields. Pan American Silver and Agnico Eagle Mines announced Friday a cash-and-stock deal valued at $5.02 a share. Article by Doug Alexander, Jacob Lorinc and Felix Njini for Bloomberg, with comment from Mandi Dungwa – portfolio manager for Camissa Asset Management.
Gold Fields was burning cash almost every year at their only facility in South Africa, until the continent’s third-largest miner of the metal started looking at Toyota Motor Corp. for inspiration. Article by Felix Njini, with comment from Mandi Dungwa – portfolio manager for Camissa Asset Management.
Sasol is rapidly growing its footprint of green hydrogen development projects as it works to establish itself as a leader in an industry that is expected to provide a fifth of the world’s energy needs by 2050. Written by Lisa Steyn, with commentary by Abdul Davids – head of research for Camissa Asset Management.
Global financial markets have had a bumpy ride so far this year as a combination of rising inflation, a series of rate hikes and hawkish guidance from central banks across the world — despite the associated recessionary risks — weighed on assets. Abdul Davids (head of research for Camissa Asset Management) recommends that investors focus on the long term and use the prevailing market volatility as a good opportunity to build their portfolios. Written by Lindiwe Tsobo.
Impala Platinum’s (Implats’s) share price fell as much as 10% on Thursday, the most since June 2020, after the world’s third-largest platinum group metals producer reported a 17% fall in full-year profit as commodity prices came off the boil while its input costs surged. Written by Nico Gous and Andries Mahlangu with insights from Mandi Dungwa – Portfolio Manager at Camissa Asset Management.
Camissa Asset Management on Thursday launched the Camissa SA Equity Fund, which will invest exclusively in local stocks. Camissa CIO Gavin Wood, who will manage the portfolio, told Citywire South Africa in an interview that the fund would offer differentiated performance by being ‘truly actively managed’ and not benchmark cognisant. Article by Justin Brown with comment from Gavin Wood – CIO at Camissa Asset Management.
Camissa Asset Management CIO Gavin Wood believes that there are too many active managers in South Africa and, in particular, too many offering closet index trackers. ‘Unfortunately, in the asset management industry, there are too many closet passive or benchmark huggers charging high fees,’ Wood said during an interview with Citywire South Africa. Article by Justin Brown with commentary from Gavin Wood – CIO at Camissa Asset Management.
Diversified chemicals group Omnia, which is growing its organic business, said it has enough supply of traditional fertilisers to help farmers who may be running short after spending R10bn to secure stockpiles. Written by Thabiso Mochiko with comment by Aslam Dalvi – portfolio manager at Camissa Asset Management.
Camissa Asset Management chief executive Roland Greaver believes that one of his best business decisions was to motivate Coronation Fund Managers to sell its stake in the company in 2005. ‘At the time, it was politically incorrect for black-owned businesses to have a big established institution as a shareholder because such businesses were not seen as independent,’ he told Citywire South Africa during an interview. Written by Justin Brown – featuring comment via interview from Roland Greaver – CEO of Camissa Asset Management.
A possible deal to buy Hulamin has flopped after months of talks. Sources say government’s requirements were too onerous for the potential buyer. The company is an attractive target because aluminium is in high demand in the green economy. Written by Lisa Steyn with comment from Abdul Davids, head of research for Camissa Asset Management.
If you are choosing an actively managed equity fund, should you look for a manager that says it invests with conviction and doesn’t just follow the benchmark index? Or is it better to use a manager who takes smaller bets around the benchmark? High conviction managers typically invest in a smaller number of shares and take bigger stakes in each share they think will deliver good returns. Written by Laura du Preez with insights by Gavin Wood (via Meet the Managers virtual conference) – CIO for Camissa Asset Management.
MTN is ramping up its fibre business in several African countries to capture continued demand for the high-speed internet connectivity needed to accelerate the digital economy and fintech services. Article by Thabiso Mochiko with insights from Aslam Dalvi – portfolio manager at Camissa Asset Management.
Appian Capital Advisory is taking Sibanye-Stillwater (JSE: SSW) (NYSE: SBSW) to the High Court in London over the South African miner’s decision to ditch a multi-million deal to acquire nickel and copper mines in Brazil. Article by Cecilia Jamasmie with comment from Mandi Dungwa – portfolio manager at Camissa Asset Management.
Private school group Curro is limiting its exposure to early education and holding off on acquisitions while investing in its online offering as a way of boosting high school enrolment. More than 2,800 pupils have signed up on its online platform, which allows them to take extra subjects not offered by their schools. The extra courses, aimed mainly at grade 12 pupils, helps them to obtain better matric results. Article by Thabiso Mochiko with insights from Jihad Jhaveri – head of process at Camissa Asset Management.
Twenty-year-old Kagiso Asset Management is now Camissa Asset Management. The company changed its name following corporate restructuring, which saw staff acquire shares in the business. Article by Londiwe Buthelezi with comment from Roland Greaver (CEO) and Gavin Wood (CIO) from Camissa Asset Management.
Following the move, the firm will rebrand to Camissa Asset Management. Kagiso Asset Management’s controlling shareholder, Kagiso Tiso Holdings, has announced the sale of its 50.1% stake in the fund manager. The deal will see the shares sold to management, staff and Sinayo Capital for an undisclosed sum. Article by Justin Brown with commentary by Roland Greaver (CEO) and Gavin Wood (CIO) of Camissa Asset Management.
Amplify Health joint venture with AIA Group forecasts a market of 2.6-billion people spending the equivalent of R60-trillion on health care by 2030. Discovery CEO Adrian Gore says the financial services group has ambitious growth plans for its new venture in Asia, and sees the company making acquisitions to bolster its services. Article by Thabiso Mochiko with insights from Jihad Jhaveri – Head of Process for Kagiso Asset Management.
Rivals have a head start in booming business fuelled by pandemic. Competition in the grocery delivery market is intensifying, with Spar, the last listed grocery retailer to offer the service, announcing this week that is it rolling out its e-commerce platform in the northern suburbs of Johannesburg from March. Article by Thabiso Mochiko with insights from Mohamed Mitha – investment analyst for Kagiso Asset Management.
Motus, which runs one of SA’s biggest car dealerships, said on Tuesday it expects its first-half profit to jump by as much as 55%, boosted by disproportionate demand for pre-owned vehicle as worldwide chip shortages dog the production of new vehicles. Written by Andries Mahlangu with insights from Abdul Davids – Head of Research for Kagiso Asset Management.
The annual Raging Bull Awards will be broadcast by video stream on Tuesday, February 1 and 7pm. The awards recognise the best actively managed unit trust funds on straight performance over three years and on risk-adjusted performance over five years to the end of 2021. There are also awards for the top South African and offshore management companies. The event is hosted by Personal Finance and Business Report, and the main sponsors for this year’s event are the JSE and Sanlam.
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