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Articles tagged as "Naspers"

Insights categories - Offshore investing

From Johannesburg to Japan: How to resist the magnetism of the magnificent seven

By Tamryn Lamb on 28 Sep 2023

Listening time: 64 mins

In conversation with Tamryn Lamb, Allan Gray portfolio manager Tim Acker and Graeme Forster, portfolio manager at our offshore partner, Orbis, explain why we...

Insights categories - Markets and economy

Q&A with Allan Gray and Orbis: Positioning our portfolios for an inflationary environment

By Gladness Rupare on 01 Jul 2022

Viewing time: 40 min

With rising global inflation and the possibility of a recession on the cards, investors are tasked with protecting their capital and looking for opportunitie...

Insights categories - Local investing

Local investment update: Always pay the right price

By Duncan Artus and Jacques Plaut on 03 Jun 2022

Viewing time: 26 min

Jacques Plaut and Duncan Artus discuss the positioning of our equity and multi-asset funds given the pre-existing trends exacerbated by the war in Ukraine....

Insights category - companies

What has gone wrong with Naspers?

By Tim Acker on 26 Apr 2022

Reading time: 12 mins

For many years, Naspers was the star performer of the South African stock market. The onset of COVID-19 drove the Naspers and Tencent share prices to new...

Insights categories - Markets and economy

Understanding the impact of the Ukraine crisis on your investments

By Jacques Plaut on 07 Mar 2022

Reading time: 5 mins

Like everyone else, we have been watching with dismay as the war in Ukraine unfolds. While in this piece we address some of the economic and investment...

Insights categories - Offshore investing

The power of perspective in an expensive market

By Ben Preston on 17 Feb 2022

Viewing time: 1 min

Historically, every decade has its “poster child” asset class. In the 70s it was gold, the 80s Japanese shares, and materials shares in the noughties. At the...

Insights categories - Local investing

Q&A with Allan Gray portfolio managers

By Duncan Artus on 17 Nov 2021

Viewing time: 1 min

At a recent Allan Gray local investment update, chief investment officer, Duncan Artus, facilitated a robust discussion with portfolio managers, Thalia...

Insights categories - Local investing

Market update: Weighing up opportunity and risk in the face of volatility

By Duncan Artus on 23 Aug 2021

Listening time: 25 mins

While the local market has been strong, South African assets still look cheap overall compared to many of their global counterparts. There is opportunity in...

Insights category - companies

Orbis: Global perspectives on Naspers

By Stefan Magnusson and Edward Blain on 26 Jul 2021

Reading time: 12 mins

One of the largest positions in the Orbis Global Equity Fund is Naspers, whose key underlying asset is a 29% stake in the Chinese internet juggernaut Tencent...

Insights category - companies

Understanding the Naspers-Prosus transaction

By Tim Acker on 17 Jun 2021

Reading time: 3 mins

Naspers and Prosus have announced a transaction that changes the group’s financial structure. They hope this will reduce the large discount at which Naspers...

Insights categories - Investment insights

In pursuit of value

By Jacques Plaut on 26 May 2021

Reading time: 10 mins

The current disparity in markets, both locally and offshore, is creating an opportunity for bottom-up investors like ourselves to generate meaningful returns...

Insights categories - Markets and economy

Q&A with portfolio managers from Allan Gray and Orbis 2021

By Tamryn Lamb on 26 May 2021

Reading time: 1 min

The global recovery is underway as markets rebound from their March 2020 lows, but the current pandemic is far from over, leaving many investors questioning...

Insights categories - Local investing

Balanced Fund: Perspectives and positioning

By Tim Acker on 10 Feb 2021

Viewing time: 45 mins

In a recent webinar, Portfolio Manager Tim Acker discussed the investment environment and looked at how the Allan Gray Balanced Fund is positioned to take...

Insights categories - Local investing

Balanced Fund: Optionality, the most unappreciated asset

By Tim Acker on 10 Feb 2021

Reading time: 5 mins

One of the most unappreciated assets in a portfolio is optionality – the ability to take advantage of market disparity and to move between and within asset...

Insights category - companies

To have and to hold?

By Kamal Govan on 27 Jan 2021

Reading time: 9 mins

If the value associated with a holding company is less than the sum of its parts, is it a worthwhile investment? Kamal Govan looks at the drivers of holding...

Insights categories - Local investing

Balancing risk and opportunity

By Rory Kutisker-Jacobson on 25 Nov 2020

Viewing time: 26 mins

When it comes to investing, the single most important variable is the price you pay. Sentiment can drive valuations to extremes, and even great companies can...

Insights categories - Offshore investing

Orbis Global Equity: Positioned for multiple views of the future

By Ben Preston on 25 Nov 2020

Viewing time: 29 mins

2020 has been quite a year and many of us are undoubtedly looking forward to putting it in the past. The pandemic, global lockdowns, US elections, one of the...

Insights categories - Local investing

Prospects look promising

By Stephan Bernard and Radhesen Naidoo on 12 Oct 2020

Reading time: 8 mins

Disappointing short-term performance has had a dampening effect on longer-term numbers. Looking at similar periods in our history provides useful context and...

Insights categories - Markets and economy

Do fundamentals still matter?

By Rory Kutisker-Jacobson on 15 Sep 2020

Reading time: 7 mins

There is an increasingly wide disconnect between the economic reality on the ground and the valuations reflected in some asset classes globally, begging the...

Insights categories - Local investing

Equity Fund update: In pursuit of potential

By Duncan Artus on 03 Aug 2020

Reading time: 9 mins

The most important determinant of investment success is the price you pay for an asset, and valuations for many quality companies are the cheapest they have...

Insights categories - Local investing

Equity Fund update: Investing amid extreme price moves

By Jacques Plaut on 24 Jul 2020

Reading time: 3 mins

The second quarter of 2020 saw further extreme moves in equities. An intraday price move of 20% is a rare event, especially for a large company. In the month...

Insights categories - Offshore investing

Orbis: Tech opportunities rise in the East

By John Christy and Stanley Lu on 03 Jul 2020

Reading time: 13 mins

Technology stocks have performed remarkably well in recent years and particularly amid the COVID-19 pandemic. John Christy and Stanley Lu, from our offshore...

Insights categories - Local investing

Positioning our portfolios for growth beyond COVID-19

By Andrew Lapping on 23 Apr 2020

Reading time: 12 mins

The speed at which the financial market swings from despair to elation is astounding. The past few months have seen no shortage of mood swings as investors...

Insights categories - ESG

Stewardship and Business Sustainability Reports

By Andrew Lapping on 31 Mar 2020

Reading time: 1 min

This is the fifth year that we have published our Stewardship Report, which outlines how we integrate environmental, social and governance (ESG) issues into...

Insights categories - Markets and economy

COVID-19: Evaluating market risk versus opportunity

By Duncan Artus on 25 Mar 2020

Viewing time: 1 min

We have managed our portfolios through a range of different crises since 1974. Over the last 20 years, the dotcom collapse in 2001/02, the global financial...

Insights categories - Markets and economy

How will current market conditions impact our portfolios?

By Radhesen Naidoo on 11 Mar 2020

Reading time: 8 mins

The start of 2020 has been tumultuous as fears about the coronavirus have dominated the news and global markets. The resulting volatility has been compounded...

Insights categories - Offshore investing

Q&A: Understanding Orbis’ performance and potential

By Duncan Artus and Edward Blain on 28 Oct 2019

Reading time: 11 mins

Market breadth has been very narrow offshore, with few winners and many losers. Among the losers have been emerging markets and select cyclicals. At the same...

Insights category - companies

Prosus marches forward: What should investors be looking out for?

By Nshalati Hlungwane on 10 Sep 2019

Reading time: 5 mins

Naspers, the world’s sixth largest internet company by market capitalisation, will list its foreign internet assets separately via Prosus NV, a newly created...

Insights categories - Local investing

Is it 2002 all over again? Not quite

By Duncan Artus on 29 Jul 2019

Reading time: 6 mins

Domestically focused shares that are exposed to the local economy have underperformed the overall market. Duncan Artus investigates whether the current...

Insights categories - Investment insights

Is your portfolio overly concentrated?

By Vuyo Nogantshi on 30 May 2019

Reading time: 6 mins

South Africa has a relatively small equities market with a handful of dominant shares, spread across a few sectors, which are available to invest in. This...

Insights category - companies

An opportunity in television?

By Jacques Plaut on 29 Apr 2019

Reading time: 8 mins

The Top 40 got a new member this quarter when MultiChoice was unbundled from Naspers. MultiChoice owns the dominant pay-TV business in South Africa, DStv, wi...

Insights category - companies

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...

Insights categories - Local investing

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....

Insights categories - Local investing

Allan Gray Equity Fund's 20th Anniversary

By Julie Campbell on 17 Oct 2018

Reading time: 13 mins

If you had invested R1 000 in the Allan Gray Equity Fund when it was launched on 1 October 1998, it would be worth R56 572 today (at 30 September 2018). A...

Insights category - companies

An investment case for Naspers

By Ruan Stander on 17 Oct 2018

Reading time: 9 mins

As at 30 September 2018, Naspers made up 18.2% of the JSE. Whether you are for or against the stock, adequate time needs to be devoted to considering the...

Insights categories - Markets and economy

A volatile quarter for emerging market equity and currency markets

By Duncan Artus on 12 Oct 2018

Reading time: 4 mins

Emerging market equity and currency markets had a very volatile quarter. Vulnerabilities, both economic and political, are being exposed as global financial...

Insights category - companies

How Allan Gray values a stock

By Andrew Lapping on 18 Jul 2018

Reading time: 6 mins

Allan Gray is a strong proponent of value investing, the mantra famously championed by Warren Buffet. Put simply, value investing is the concept of buying...

Insights categories - Local investing

Structural challenges to business models

By Duncan Artus and Tim Acker on 15 Jun 2018

Reading time: 4 mins

At the core of our investment philosophy we look for companies we believe are priced below our estimate of their true worth and sell them when they reach fai...

Insights categories - Local investing

Are you overly exposed to China?

By Duncan Artus on 13 Jun 2018

Reading time: 7 mins

As South African investors we are very tuned into the local political and economic risks that we face. But what about the less obvious risks?

Insights categories - Local investing

Equity Fund update: Reversal of fortunes for domestically orientated sectors

By Simon Raubenheimer on 19 Jan 2018

Reading time: 3 mins

For most of 2017, domestically orientated sectors fared poorly against the FTSE/ JSE All Share Index (ALSI). However, the last few weeks of the year saw a...

Insights categories - Local investing

Equity Fund update: Patience is key in investing

By Ruan Stander on 10 Nov 2017

Reading time: 3 mins

Despite the high price-to-earnings (PE) ratio of the FTSE/JSE All Share Index (ALSI), our bottom-up investment process is finding attractive opportunities th...

Insights categories - Local investing

Balanced Fund update: An increased weighting towards local stocks

By Duncan Artus on 23 Oct 2017

Reading time: 3 mins

The local equity market had a strong quarter, breaking out to new highs despite all the negative news headlines. Many investors forget that the FTSE/JSE All...

Insights categories - Local investing

Equity Fund update: Don’t be seduced by high expectations

By Simon Raubenheimer on 14 Oct 2016

Reading time: 3 mins

It is interesting to note the surprise announcements made by several market ‘darlings’ over the course of the third quarter of 2016. Mr Price revealed negati...

Insights categories - Local investing

Equity Fund update: Volatility presents opportunity

By Ruan Stander on 25 Jul 2016

Reading time: 3 mins

The economic outlook deteriorated during the second quarter, exacerbated by the British referendum. Although the market’s perception of near-term headwinds m...

Insights categories - Markets and economy

Time to review your equity exposure?

By Ian Liddle on 27 Jan 2014

Reading time: 7 mins

Adapted from the Chief Investment Officer’s comments, which will appear in the Allan Gray Unit Trust Annual Report, 2013. We aim to grow our clients’ wealth...

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