Welcome to Through our Lens Edition 4

A message from Gielie’s desk

What a great year it’s been, with South Africa’s Rugby World Cup victory undoubtedly the grand finale! As we prepare to wind down for the holiday season, we invite you to join us in our year-end edition of Through our Lens. This issue features a collection of articles that highlight key aspects of the investment landscape.

As part of our commitment to becoming Africa’s leading sustainable investor, we proudly present our Responsible Investing Report for 2023. In her article, ESG Reporting – Disclosure Frameworks, Tinyiko Mabunda, ESG and Impact Analyst, shares key insights from the report which highlight our plans for creating more impact on people, communities and planet, as well as our recent successes. We trust you will find these insightful and inspiring. In keeping with our ethos on sustainability, our Sustainable Infrastructure Fund, has made significant strides in South Africa by financing unique projects that address critical needs. From a biomass plant for baseload energy to a fibre-to-the-home initiative for underserved communities, this fund drives positive societal and environmental change. Portfolio managers Pawan Singh and Ockert Doyer succinctly share their successful endeavours and the broader goals of this fund.

We are excited to introduce a new addition to our newsletter, In the Spotlight, where we bring you the stories of influential figures and dedicated professionals from various domains within our organisation. In this edition of In the Spotlight, we profile Natasha Narsingh,  CEO of Sanlam Investments Active Management business.

Additionally, Natasha shares her insights into the distinct blend of traditional value investing and innovative technology. Following our recent integration with ABSA Asset Management, we are now better equipped than ever to seize abundant opportunities in this dynamic investment landscape. Navigating the Future: The Imperative of Active Management in a Dynamic Investment Landscape is a must-read for anyone looking to stay ahead in the world of investments.

Continuing our exploration, we dive into the world of Emerging Markets (EMs) with insights from Feroz Basa, Head of Global Emerging Markets at Sanlam Investments. In his article, Seize the Moment: Add Emerging Markets Equity to Offshore Portfolios, you’ll discover the systemic advantages and compelling opportunities that EMs equity funds offer. These investments transcend South African-specific risks and promise superior future returns given where valuations are now.

Central banks globally have implemented aggressive interest rate hikes since late 2021, leading many investors to seek safety in bank deposits for attractive real returns. However, signs of inflation easing and the likelihood of the rate-hiking cycle nearing its peak have left investors pondering their next moves. In Have interest rates peaked? A dilemma for fixed income investors, James Turp, Fixed Income Portfolio Manager, addresses this crucial question. With a rapid 4.75% nominal increase in domestic interest rates over the past two years, the article explores the current fixed income landscape, offering valuable insights to aid in making informed and prudent investment decisions.

Finally, Simple, but Effective, Investing  by Nico Katzke, Head of Portfolio Solutions at Satrix, highlights the importance of recognising that avoiding losses often matters more than chasing gains. Discover why diversification is the smart, effective choice for your wealth creation journey in 2024.

As we conclude our year-end edition, we thank you for your continued support and readership. We appreciate your engagement in exploring the dynamic world of investments and look forward to sharing more insights and opportunities in the coming year.

Gielie de Swardt
Head: Retail Distribution

Through our Lens