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Fundamentals June 2018

20 Jun 2018
The June 2018 edition of Fundamentals, our monthly thought leadership newsletter, is now available.

Download The Full PublicationFundamentals June 2018 (PDF | 3.2MB)

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 In this month's edition:

OUT OF SIGHT, BUT TOP OF MIND - HYWEL GEORGE

This is a brief update on the most material developments regarding Steinhoff and the steps we have taken to engage with Steinhoff management and recover whatever value remains for shareholders.

Download: Out of sight, but top of mind - Hywel George (PDF | 253 KB)

THE ART OF A GOOD DEAL: EXPLORING THE TRUE MOTIVES BEHIND MERGERS - JONATHAN LARCOMBE

While we mostly only remember companies that destroyed shareholder value through mergers and acquisitions, SA also has many success stories. Examining these successes and failures helps us to better understand the characteristics of successful deals.

Download: The art of a good deal: Exploring the true motives behind mergers - Jonathan Larcombe (PDF | 572 KB)

SA ECONOMY FAILS TO RECOVER - JOHANN ELS

Despite improving confidence and the SARB’s leading indicator still pointing to better growth, data shows that weakness has spilled into the second quarter of 2018.

Download: SA economy fails to recover - Johann Els (PDF | 399 KB)

BOND YIELDS RISE IN UNSUPPORTIVE GLOBAL AND LOCAL ENVIRONMENT - FUTUREGROWTH INTEREST RATE TEAM

Fixed income managers were encouraged by the Monetary Policy Committee’s hawkish tone regarding future inflation risks.

Download: Bond yields rise in unsupportive global and local environment - Futuregrowth interest rate team (PDF | 332 KB)

CHINA’S TECHNOLOGY ASCENDANCY AND OTHER CFA CONFERENCE INSIGHTS - HYWEL GEORGE

The asset management industry globally faces profound challenges around fees and the rise of passive investing, but I suspect technological innovation may work in our favour.

Download: China's technology ascendancy and other CFA conference insights - Hywel George (PDF | 491 KB)

GLOBAL GROWTH FALTERS AMID TRADE AND POLICY CONCERNS - RIAN LE ROUX

Despite mounting concerns that the world economy is slowing, I do not foresee a protracted and/or deep slowdown.

Download: Global growth falters amid trade and policy concerns - Rian Le Roux (PDF | 302 KB)

RAISING THE BAR ON GOVERNANCE AND TRANSPARENCY   

Andrew Canter is one of only six CFA® charterholders chosen globally to represent the Institute’s “Let’s Measure Up” campaign for their contribution to upholding exacting standards of ethical and professional conduct. Watch the video to find out how Futuregrowth raised the bar on governance and transparency.

Watch: Raising the bar on governance and transparency - Andrew Canter 

 

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