In the news
11 September 2023
Shoprite hits record in market share growth – Sunday Times
Shoprite has set its sights on widening its lead against competitors as it continues its aggressive store expansion after record market share growth. It will spend R8.5 bn in the 2024 financial year, up from R6.8 bn in fiscal 2023. Article by Thabiso Mochiko with comment from Mohamed Mitha – investment analyst for Camissa Asset Management.
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31 August 2023
Bank on it: diversification is key – The Times
As a spike in credit impairments by battered South African consumers hurts banks, their corporate & investment units and Africa operations are having to save the day. Article by Dineo Faku with comment from Meyrick Barker – investment analyst for Camissa Asset Management.
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31 August 2023
Boutiques Connect: Camissa Asset Management – AssetTV
In this Boutiques Connect update by AssetTV, Gavin Wood – chief investment officer for Camissa Asset Management – discusses asset allocation, Camissa’s contrarian approach and the importance of building an efficient team.
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31 August 2023
OPINION: The investment case for the owner of Iwisa, Blue Ribbon and Snowflake – News24
Premier Foods, one of South Africa’s oldest food and consumer packaged goods businesses, started as a small bakery in 1824 and has grown to be a leading branded and private label food manufacturer operating in South Africa, Eswatini, Mozambique, Lesotho and the UK – writes Nicholas Brown – associate analyst for Camissa Asset Management.
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16 August 2023
OPINION: The Foschini Group faces challenges – but it looks cheap – News24
The Foschini Group has an ambitious strategy and, in a tough environment, success is not particularly evident as yet. But the company’s shares seem to be undervalued, writes Mohamed Mitha – investment analyst for Camissa Asset Management.
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15 August 2023
Thinking and being more unconventional pays huge dividends – Citywire
Gavin Wood believes that in investment management it pays to pursue inaccessible areas that are difficult to master. Article by Patrick Cairns with comment from Gavin Wood – chief investment officer for Camissa Asset Management.
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2 August 2023
Camissa launches new balanced fund focused on SA assets – Citywire
Camissa Asset Management on Tuesday launched a new fund, the Camissa SA Balanced fund, which is a building block fund aimed at investors looking for a locally balanced portfolio. Article by Justin Brown with comment from Gavin Wood – chief investment officer for Camissa Asset Management.
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24 July 2023
Repo Rate remains unchanged in the midst of decreasing inflation rate – Voice of the Cape
The South African Reserve Bank has kept the repo rate at 8.25% pa, thus putting a pause to the hiking cycle that has seen South African consumers experience ten successive repo rate increases. By Daanyaal Matthews with comment from Abdul Davids – head of research for Camissa Asset Management.
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18 July 2023
Bad news for fiscus as Amplats warns profit could plunge R20bn – Business Day
Anglo American Platinum (Amplats) has warned that its half-year profit is likely to plunge by as much as R20bn on weak metal prices and lower production — further evidence that the taxman will collect less from the mining industry. Article by Andries Mahlangu and Nico Gous with comment from Mandi Dungwa – portfolio manager for Camissa Asset Management.
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14 July 2023
Sentio: South Africa’s Shariah-compliant AUM could grow tenfold – Citywire
The South African Shariah investment universe, including segregated funds, is estimated at between R20bn and R25bn. Article by Stephen Cranston.
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21 June 2023
Mr Price to undertake big clear-out and diversity – Sunday Times
Mr Price Group aims to clear excess stock of its apparel brands that have piled up as a result of electricity blackouts that cut trading hours. It is also seeking to diversify, grow its new acquisitions and open standalone stores for children’s clothing. Written by Thabiso Mochiko with insights from Mohamed Mitha – investment analyst for Camissa Asset Management.
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20 June 2023
Telkom: state might not sell – Sunday Times
Communications ministers wants to hang on to stake while the board sees proposed offer as far below market value. Article by Thabiso Mochiko with commentary from Aslam Dalvi – portfolio manager for Camissa Asset Management.
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20 June 2023
Spar ‘extends olive branch’ to franchisee, but some fruit remains bitter – Sunday Times
The company says is has brokered a peace deal with the Giannacopoulos family, but some matters remain unresolved. Article by Thabiso Mochiko with commentary from Mohamed Mitha – investment analyst for Camissa Asset Management.
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26 May 2023
Gavin Wood: Too much negativity is now priced in – Citywire
The CIO of Camissa Asset Management, Gavin Wood, believes the pervasive pessimism in markets at the moment should be treated with a contrarian’s scepticism. Article by Patrick Cairns.
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4 May 2023
‘There is no fundamental difference between local and offshore equities’ – Citywire
The Camissa Balanced fund is the most balanced between local and offshore stocks that it has ever been. Article by Patrick Cairns, with commentary by Gavin Wood, CIO of Camissa Asset Management.
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28 April 2023
Camissa hires head of institutional business development – Citywire
Camissa Asset Management has appointed Jason Liddle as its head of institutional business development, effective 1 July. By Justin Brown, with comment from Roland Greaver, CEO of Camissa Asset Management.
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18 April 2023
Implats keeps hopes alive for RBPlat as Northam bows out – Business Day
Impala Platinum (Implats), now the sole bidder for a controlling stake in Royal Bafokeng Platinum (RBPlats) after its rival Northam Platinum pulled out of the race, is still counting on the remaining RBPlat shareholders to back its proposal. Written by Andries Mahlangu, with insights from Mandi Dungwa – portfolio manager for Camissa Asset Management.
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25 March 2023
SA stocks plummet in longest slide since 2018 – Business Day
A global slump in stocks dragged SA’s benchmark equity index lower for a seventh day on Wednesday, the longest losing streak for the market since October 2018. Article by Colleen Goko and Adelaide Changole, with commentary from Abdul Davids – head of research for Camissa Asset Management.
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18 March 2023
Regulator gives nod for Northam to pursue RBPlat – Business Day
Endorsement could see the lengthy battle for control of the platinum miner drag on. Article by Nico Gous and Andries Mahlangu, with commentary from Mandi Dungwa – portfolio manager for Camissa Asset Management.
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2 March 2023
Just how big is the risk in the local credit market? – Citywire
Camissa Asset Management is opting for very low exposure given the effects of the supply-demand imbalance. Article by Patrick Cairns with commentary from Satish Gosai – head of fixed income and derivatives for Camissa Asset Management.
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10 February 2023
Camissa CIO: ‘We always positioned ourselves as an entrepreneurial manager’ – CityWire
In the latest in a series of interviews with industry veterans, Stephen Cranston talks to Camissa co-founder and CIO Gavin Wood. Article by Stephen Cranston.
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2 February 2023
Asset managers urged to seize opportunities – The Star
“Tough stock market conditions present great opportunities for asset managers who are prepared to take advantage of overly negative reactions to share prices”. Written by Edward West with comment from Gavin Wood – CIO for Camissa Asset Management.
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31 January 2023
Top performers show up on Large Manager Watch survey – Citywire
Truffle, Ninety One and M&G enjoy continued success in the December 2022 Alexforbes survey. Written by Stephen Cranston.
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16 January 2023
A sound investment approach is essential in volatile times – IFN
In 2022, global geopolitical and economic events cast a long shadow over developed and emerging markets, with standout events being Russia’s invasion of Ukraine in February and the US Federal Reserve Bank’s efforts to combat persistently high inflation through aggressive interest rate hikes. Written by Abdul Davids – Camissa Asset Management’s head of research – for Islamic Finance News.
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