Simon’s Weekly Cover: Expanding Focus

I had a great conversation with Nosibusiso Ngqondoyi of Old Mutual Multi-Managers about the domestic hedge fund industry. It’s surprisingly small, at just under R90 billion in assets under management, but more importantly the industry has a proven track record. The net fee versus the performance of traditional fund managers is about 2% per annum using a long/short strategy, which is something investors should consider for a portion of the overall portfolio (read text).

Ridge Nkosi, CEO at Firstsource Money, worries about central banks’ unique focus on interest rates as their sole mission to control inflation. He says that a double mandate involving unemployment is very possible and should be considered in order for the economy to grow (read text).

Over the past year, inventories have expanded, largely in response to supply chain constraints. Keith McLachlan of Integral Asset Management as a warning about these increased levels, especially as consumers under pressure spend less. In many cases, the extra inventory has to be discounted in order to sell and that will hurt margins in the new year (read text).

Black Friday has finally arrived, though the specials started at least a week ago, and in some cases, even earlier. I spoke with Isana Cordier at Absa Corporate and Investment Banking about the trends we’re seeing. One notable trend has been the discounting of consumer staples in place of expensive traditional goods, as consumers feel the pressure of rising interest rates and inflation (read text).

Also this week:

Vusi Mahlangu of Tamila Capital Partners on providing gap capital for student accommodation (read text).

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