Latest articles

Our Tencent(s) on VIE structures

By Radhesen Naidoo on 11 Mar 2019

reading time: 3 mins

As at 28 February 2019, Naspers made up just over 18% of the FTSE/JSE All Share Index. Because of its dominance, including or excluding the share will have a...

Orbis: Key detractors from recent performance

By Radhesen Naidoo on 08 Mar 2019

reading time: 5 mins

Periods of underperformance are stressful and disappointing, and while they are an expected part of the investment cycle for us as a contrarian manager, we...

2019 Budget speech update

By Carla Rossouw on 20 Feb 2019

reading time: 8 mins

Finance Minister Tito Mboweni delivered his maiden budget speech on Wednesday 20 February. In this document we highlight some of the 2019 Budget tax proposal...

Budget 2019: Focus shifts to restoring credibility

By Carla Rossouw on 20 Feb 2019

reading time: 4 mins

Finance Minister Tito Mboweni’s maiden Budget Speech didn’t deliver any major punches such as 2018’s surprise 1% VAT hike, but instead sought to acknowledge...

The year of payback

By Duncan Artus on 15 Feb 2019

reading time: 4 mins

Excess returns from the FTSE/JSE All Share Index (ALSI) relative to cash have disappointed over the last five years, with cash now outperforming, on average....

Equity Fund update: Taking a look at British American Tobacco

By Ruan Stander on 08 Feb 2019

reading time: 3 mins

2018 was a disappointing year for South African equity investors, with the FTSE/ JSE All Share Index returning -9%. The good news is that based on our resear...

Is there any tax benefit in saving over the annual tax deductible amount towards retirement?

By Carrie Furman on 05 Feb 2019

reading time: 9 mins

One of the key benefits of investing for retirement using a retirement fund is the generous tax deduction for contributions, subject to a maximum of 27.5% of...

The financial services, products or investments referred to on this website are not available to persons resident in jurisdictions where their availability or distribution would contravene local laws or regulations and the information on this website is not intended for use by these persons. This website is for information only and does not in any way constitute a solicitation or offer by Allan Gray Proprietary Limited or any of its associates or subsidiaries (collectively “Allan Gray”) to buy or sell any financial instruments or to provide any investment advice or service.

By selecting one of the countries below I confirm that I have read and understood the above and that:

(a) I am not a South African citizen; or 
(b) I do not reside in the Republic of South Africa; or 
(c) I am not otherwise a person to whom the communication of the information contained in this website is prohibited by the laws of my home jurisdiction; and 
(d) I am not acting for the benefit of any such persons mentioned in (a),(b) and (c) and 
(e) I confirm that any investment with Allan Gray is based on my own initiative and not due to any offer or solicitation by Allan Gray.