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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 Group Expected full-year earnings growth of 20-30%Maintained margins despite soft commodity cost increasesStrong capital expenditure discipline and pricing strategy📌 Raubex Earnings set to rise to 25%Diversified away from Sanral into infrastructure and miningThe Bauba acquisition is promising but poses cash flow challenges📌 Gold Fields Share 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.

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.

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.

📉 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.