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by
Annie Yates
Sandisile Dlamini
Fungai Tarirah
Passion. Independence. Rigour.
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Passion. Independence. Rigour.
Source: Jantoo Cartoons
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Passion. Independence. Rigour.
External stresses…
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Passion. Independence. Rigour.
The stress test…
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Passion. Independence. Rigour.
Internal stresses…
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You lost…
…You gotta go…
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Passion. Independence. Rigour.
The stress test…
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…the score card…
Passion. Independence. Rigour. 7
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Passion. Independence. Rigour.
Resilient informal markets kept economies going
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Passion. Independence. Rigour.
Nimble management teams adjusted
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Passion. Independence. Rigour.
The stress test…
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Though rising, public debt
remains manageable, unlike
EM, DM
Median <55%, mostly in local
currency
Show in resilient GDP numbersGDP growth bottomed at 1.4%
pa, expected to rise c4% in
3yrs. SA below 2.5% pa
Growing, resourceful, undersupplied populace
Commitment to improve infrastructure
Improving institutions and
governance structures
Zero tolerance of corruption,
focus on improving conditions
for doing business
Oil importers continue to
enjoy reprieve
Reduction in inflation in East
Africa Community, removal of
subsidies in Morocco, Egypt
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Passion. Independence. Rigour.
The stress test…
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Passion. Independence. Rigour.
Sentiment is turning positive
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Passion. Independence. Rigour.
Quicker than you can say “tourists are flocking to Egypt”
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Passion. Independence. Rigour.
& quicker than you can say “Buhari is back in London”
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Passion. Independence. Rigour.
Buy orders are back and strong
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It gonna be a 10-bagger
Get me stock before quarter end!
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Current portfolio positioning
Passion. Independence. Rigour. 16
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…selected by an experienced fund management team…
Passion. Independence. Rigour. 17
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…spending time on the ground
Passion. Independence. Rigour.
• 216 interactions last year, 208 the year before. 65 in the year to date
• Meeting with people on the ground remains a key ingredient of our process
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Passion. Independence. Rigour.
Rudiarius
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Disclaimer
All information used in this presentation and any material referred to herein are subject to copyright and may not be reproduced orused (other than for information purposes) in any way, unless prior written permission has been granted by Rudiarius CapitalManagement (Pty) Ltd (“Rudiarius”) or the appropriate copyright owner.
This presentation is intended for information purposes only and none of the information contained in this presentation constitutesinvestment advice or a recommendation, solicitation or offer by Rudiarius to buy or sell any financial product. The informationcontained in this presentation has been prepared without consideration of the investment objectives, financial situation or particularneeds of any particular recipient. Any transactions described in this presentation may give rise to substantial risk, including the possibleloss of principal value, and are not necessarily suitable for all investors. This presentation should accordingly not be considered as asubstitute for the exercise of your own judgment or for obtaining independent advice based on your personal preferences andcircumstances. Although all precautions have been made to ensure reliability of data and information contained in this presentation,Rudiarius cannot guarantee the reliability thereof.
Past performance referred to in this presentation is not necessarily indicative of future performance. Similarly, forecasts contained inthis presentation involve risks and uncertainties which may result in future performance, outcomes and results which differ materiallyfrom such forecasts. You are accordingly cautioned not to place undue reliance on any historical data, general information orforecasts used in this presentation. A schedule of fees and charges and maximum commissions is available on request.
Rudiarius accepts no liability whatsoever for any loss, damage (direct or consequential) or expense suffered by a recipient as a resultof undue reliance placed on any information contained in this presentation.
Rudiarius Capital Management (Pty) Ltd is an authorised financial services provider FSP 45286.
Passion. Independence. Rigour. 20