BEE.conomics – Call for participation
The research phase of the annual BEE.conomics Transformation in South African Asset Management survey will begin soon. This is a...
Mountain of worry
Fiscal and monetary authorities are likely to be remembered for a long time for their extraordinary interventions against the Covid-19...
27four Style Analysis – Quarterly Note March 2021
On the back of the rally in local and global equity markets, value has experienced a dramatic turnaround, beating growth and momentum over the last two quarters. Over and above this, there have been a number of style based reversals, most notably small and mid caps beating large tickers as well as high volatility dominating the likes of quality and low vol. The past quarters style note will explore these changes as well as provide quantitatively determined estimates of style performance over the next quarter.
Top 5 controversial AGM resolutions for April 2021
We exercise our voting rights on behalf of our clients diligently because we believe it is one of the most effective ways of entrenching corporate citizenry. We therefore review the voting issues per resolution at each annual general meeting and vote in line with our policy. In March, we voted on 90 resolutions of which 59 were in favour and 31 were against.
Crisis come and go
A recent spike in inflation expectations has left many investors guessing how central banks would respond. Judging from the spike in yields of the widely watched US 10-year treasuries and selloff of long duration equites, it seems most investors expect the Fed and other central banks to tighten the monetary policy sooner than planned. We think the Fed will be more concerned about the stability of the financial system and sustaining the ongoing economic recovery more than inflation risk. Therefore, instead of tightening the monetary policy as expected, the Fed may go the opposite direction.