South Africa - Institutional
The global energy mix is changing and presenting investment opportunities.
October 2023 · 10 min read
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Global bond rout puts local bonds under pressure amidst a deteriorating fundamental backdrop.
Mapping the way forward.
“All the water that will ever be is, right now.” – National Geographic
The same, but on steroids.
No margin for error
Experiences are trumping consumerism.
What just happened?
Yale Law Professor Amy Chua delves into topics ranging from grit and resilience to democracy and freedom of speech.
A panel of experts discuss sustainability trends, challenges and opportunities.
Our portfolio managers unpack the burning issues impacting the investment landscape today.
Hope must make way for action.
“When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” – John F. Kennedy
Moving away from being just another petrostate.
Identifying the future winners in aviation presents attractive investment opportunities.
While we are cognisant of the risks, we believe a handful of carefully chosen businesses in China currently offer compelling returns for long-term investors.
SA bonds continue to hold their worth for investors
Listed infrastructure is a key beneficiary of rising inflation.
A low-risk, value-creating allocation of capital
A challenging balance between inflation and growth.
Coronation’s evaluation of the energy plan concludes that loadshedding can reduce dramatically within four years.
In a panel discussion at our recent Talking Investments with Coronation conference, industry experts discussed regulatory changes, transformation and sustainability.
At our recent Talking Investments with Coronation conference, our investment team gave their views on portfolio positioning and regulatory changes.
Central bank action has had a profound effect on risk sentiment, we take a look at how global bond markets have responded.
A polycrisis has sent global markets sharply down; and there is opportunity to be found.
A look at rising inflation and interest rates and the tough decisions central banks need to make as remedy.
The case for (only the best) long duration technology businesses.
Taking money offshore may be popular, but, at present, South African opportunities are still more attractive.
While the uncertainty has increased and the range of outcomes is greater, the long-term opportunity remains, with Netflix still being the clear market leader in an industry with strong structural tailwinds.
“The president can't change the country on his own. But what can he do? He can give an example.” - Volodymyr Oleksandrovych Zelenskyy; President of Ukraine
While economic recovery challenges still abound, the likelihood of South Africa tumbling into a debt trap within the next five years has, thankfully, diminished.
Netflix’s scale, ongoing product innovation and strong execution set the company up well for sustained leadership in an industry that continues to shift online at accelerating pace.
‘In the midst of every crisis, lies great opportunity.’ - Albert Einstein
Budget delivers good news, but some assumptions may prove too optimistic
A disciplined approach delivers over the long term
But SAGBs might still fare better than expected
Long-term thinking and rigorous research needed to spot opportunities.
Mounting risk to the fiscal health of indebted emerging markets will require careful navigation.
An attractive, growing sector in both Eastern and Western Europe.
An attractive new add to our portfolios.
Portfolio managers Gavin Joubert and Suhail Suleman talk about their journey with the Global Emerging Markets Equity Strategy over the last 13 years.
It’s not just about Tencent, games and China
“We demand rigidly defined areas of doubt and uncertainty!” – Douglas Adams, The Hitchhiker’s Guide to the Galaxy
Understanding the risks and return opportunities remains crucial
But open minds and ability to shift positions are key
Global Frontier Markets
Passing breeze or real winds of change?
Shifting growth dynamics and inflation uncertainty
Finding value in complexity
Cheap insurance at a time of heightened risk
Tips for young people to get ahead in tough times
Questions and answers
“Your perception may not be my reality.” – Aporva Kala, author and philosopher
Inflation – it’s time to pay attention
Promising long-term growth seen in emerging equity markets
“The storm only comes to teach you how to skillfully sail your ship.” – Matshona Dhliwayo, author and philosopher
A story of a year we shall never forget.
A growth opportunity in the lacklustre retail space
Growth potential at MMH undervalued
Good intentions and a renewed commitment to growth are not enough to make government's financial position sustainable
Post-pandemic recovery in the balance of vaccines and a return of confidence
Bloated merchant acquirers face disruption in the Brazilian market spac
Vulnerabilities increase the risk of longer-term damage
Transformation through green initiatives and new demand sources
Bloated merchant acquirers face disruption in the Brazilian market spac
“If you want to lift up humanity, empower women. It is the most comprehensive, pervasive, high-leverage investment you can make in human beings.” – Melinda Gates, in her book, “Moment of Lift”
“When the world is running down, you make the best of what’s still around.” – Musician and actor, Gordon Sumner (aka Sting)
“If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.” – Economist John Maynard Keynes
100 days and counting …
We can’t afford not doing better
A chance to add good quality domestic businesses to your portfolio
“The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price.” – Benjamin Graham, The Intelligent Investor
- an excerpt from the Coronation 2019 Stewardship Report
Investment opportunities in the eyecare industry
South African investor heaven or hell?
“Battles are never the end of the war” – former US President James Garfield
Revisiting the investment case
A butterfly flaps its wings in Wuhan, China
South African government bonds remain attractive despite global shocks
Life in the time of coronavirus
Let us not waste another crisis
“The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese proverb
What did this programme really achieve?
Significant opportunities may underlie a bleak outlook
When it comes to your retirement fund, are you receiving good ‘value for money’? How would you even know?
Pause and reflect.
A gem within the small- and mid-cap space
IPO learnings from frontier markets
Restoring confidence is key to growth recovery
But depressed growth and further Eskom support weigh heavily on government
Cable operators leading US broadband internet momentum
A weighty issue?
We’re up for the challenge
Inverted yield curves, negative bond yields, liquidity everywhere and not a drop to drink
The price is right (or at least it feels that way)
Transformative policy paper needs strong implementation
Our purpose in numbers
The economic cost of rent seeking
How sports content (and fast cars) became frontrunners in the media content race
The trade war between the US and China is not ending anytime soon, notwithstanding the efforts of presidents Trump and Xi to make nice on the sidelines of the Osaka G20 Summit.
Offshore acquisitions by domestic companies
“Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis
When desirability becomes necessity
World economy balancing on regional tensions and precarious geopolitical alliances
"Speculation … allows you to put your emotions first, whereas investment gets emotions out of the picture.” – John C. Bogle
Highlights from ‘Talking Investments with Coronation’
Where the frontiers of consumer need, technical innovation and pragmatic regulation meet
Feeling in the dark? Shining a light on uncertainty
Only deep, proprietary research sharpens analysis, providing the necessary focus to look through the noise
Government’s management of the power crisis will be telling of its broader capacity for reform
2018 in review
Reflecting on a tough year
The way in which financial markets respond to US rate expectations is important
But South African bonds still offer a bulwark against global policy normalisation
But overcoming deeply rooted economic problems remains challenging
“The trouble is, you think you have time.” – Gautama Buddha
Responsible investing involves constructive, behind-the-scenes communication
Reaping the rewards of pension reform
China’s competitive education system drives strong growth
Tighter financial conditions are the greatest near-term threat to global growth
How companies avoid obsolescence through innovation
It was always going to get messy
Despite new vehicle technology, global car sales still drive demand
Spotify and Apple Music lead the revival of the recorded music industry
When it rains on your parade
The value of proprietary, deep-dive research
Addressing the future for women
A homegrown success story
Land reform under new leadership – both risk and opportunity
What you see is not always what you get
Earning its stripes
But after riding the wave of optimism, we are now cautious of South African bonds at current levels
The relevance of auditors in a post-financial scandal world
South Africa’s prospects are looking better, but durable change needs vision and consensus
How worried should investors be?
Thriving in a highly regulated industry
“May you live in interesting times” – Chinese curse
What now that the kings are gone?
Cyril Ramaphosa’s ANC needs to save South Africa from economic déjà vu
Valuations are high and uncertainty is increasing
Real change will depend on the will to fight
New year, new hope
Renewed optimism and contained inflation could benefit government bonds
The next generation of big bets
Well positioned in an evolving environment
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