Changing Regulation 28: A solution looking for a problem
South Africa’s investment shortfall does not stem from a lack of domestic capital, but from weak public-sector governance, limited competitive advantages and too few viable opportunities. Forcing retirement funds and other institutional investors to allocate more assets locally would constrain diversification, increase risk and ultimately weaken the savings pool on which financial stability depends. According to Sandy McGregor and Matthew Patterson, a better policy response is to strengthen public sector institutions and create conditions that allow private capital to invest where sound opportunities exist.
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Stable Fund: Resilient through uncertainty
A more challenging market environment has highlighted the importance of portfolio resilience. Sean Munsie explains how the Allan Gray Stable Fund has benefit...
Orbis Optimal SA: Sifting for AI opportunities
The market’s broad classification of artificial intelligence winners and losers has left some good businesses overlooked. Maurits Ovaa from our offshore...
Balanced Fund: Finding value in a divided market
A difficult local market has created opportunities in a handful South African companies, while offshore diversification continues to provide resilience. Tim...
Equity Fund: When froth gives way to value
The Allan Gray Equity Fund has delivered strong relative performance this year despite a weak local equity market. Rory Kutisker-Jacobson explains where the...
Frontier Markets Equity Fund: When fear dominates pricing, value emerges
Geopolitical uncertainty and negative news flow continue to create volatility across frontier markets. Varshan Maharaj explains how the Allan Gray Frontier...
Africa ex-SA Equity Fund: Investing in Africa and why the source of returns matters
The Allan Gray Africa ex-SA Equity Fund has benefited from strong performance across several of its holdings this year. Kamal Govan explains what has driven...
Orbis Japan Equity: The case for Japan’s overlooked growth companies
Japan’s market rise has been led by large-cap value and AI-related shares, leaving many high-quality mid-cap growth companies behind. Using an example from t...