Yesterday’s surprise news around financial accounting irregularities within Steinhoff has resulted in a 60% drop in the share price on the day, which makes the fall 82% off its highs in 2016. It is not yet clear what the real ramifications of this event will mean for the share, however with it being widely held across local managers we have assessed the impact across client portfolios given what has happened so far. Naspers has also come off around 15% from its highs over the past few days so this is also likely to have an impact on shorter term returns given the magnitude of its holding across funds, bearing in mind Naspers is still up 64% year to date.
Dr Frans Cronje, CEO of the Centre for Risk Analysis, revealed South Africa’s most likely roads to 2030* in his new book. What does the future look like?
Article by: Lynn Bolin, Head of Communications, Prudential Investment Managers
At Prudential’s recent showcase event “Face to Face”, guest speaker Frans Cronje examined the latest major trends that are likely to shape the future path of South Africa
to 2030. As an expert scenario planner and CEO of the Centre for Risk Analysis (CRA)
at the Institute for Race Relations (IRR), Cronje provided a timely update to his 2014 study, “A Time Traveller’s Guide to our Next Ten Years”. Drawing from a wealth of statistics from the IRR, Cronje pointed to three main factors currently influencing the country’s future path: 1) deteriorating economic conditions; 2) rising disenchantment
with the ANC government; and 3) the split within the ANC into opposing factions.
We are pleased to share with you the exciting developments which are taking place at Sandy Wingfield-Turner & Associates (Pty) Ltd.
Many of our clients have asked what the future plans are for my business should I eventually have to retire, or heaven forbid, get run over by a bus!