Justin Adam Brown

Johannesburg

Deputy Editor at Citywire

Articles

How does this AA-rated one-man boutique keep topping the balanced category?

2 days ago | citywire.com | Justin Adam Brown

Citywire AA-rated David Hansford (pictured above) has steered his Long Beach Managed Prescient fund to the top of the aggressive balanced fund rankings across multiple timeframes despite running a solo investment operation. Over one, three and 10 years, the fund has outperformed its peers and benchmark and topped the Citywire mixed assets aggressive ZAR category. Hansford is the only portfolio manager at Long Beach Capital, where he is also executive director.
Omig pivots from gold to platinum as EV slowdown reshapes commodity bets

2 days ago | citywire.com | Justin Adam Brown

Old Mutual Investment Group (Omig) is dialling down its exposure to gold in favour of platinum group metals (PGMs), citing concerns that gold may be nearing the peak of its current price cycle. Meryl Pick, head of equities research at Omig, said the company has been ‘aggressively’ piling on allocations to PGMs due to what the Citywire AA-rated manager describes as PGMs’ long-term value.
Ombud recovers R329m for consumers

4 days ago | citywire.com | Justin Adam Brown

From its establishment on 1 March 2024 to the end of 2024, the National Financial Ombud Scheme South Africa (NFO) recovered R328.6m for aggrieved consumers who complained about financial institutions. During the same 10 months, the NFO handled 35,855 complaints across its four divisions: non-life, life insurance, banking, and credit.
Analyst: ANC support fell to 33% when it backed VAT rate hike

1 week ago | citywire.com | Justin Adam Brown

The attempt by finance minister Enoch Godongwana (pictured above) to introduce a value-added tax (VAT) rate hike earlier this year led to a decline in the estimated support for the African National Congress (ANC) to 33%. That level of support is less than half of the ANC’s best result in a national election, which was almost 70% in 2004. This is according to political economist Frans Cronje, speaking during a Foord Asset Management webinar on Thursday.
Old Mutual Multi-Managers rebrands to Symmetry with R142bn in AUM

1 week ago | citywire.com | Justin Adam Brown

Old Mutual Multi-Managers (OMMM) has announced that it is rebranding to Symmetry. The new business, which will include a multi-manager, a discretionary fund manager (DFM) and a brand new ‘best in class’ unit, has come about due to a changing market environment and client expectations, as well as competitive pressures. OMMM had evolved from being a traditional multi-manager to an ‘investment solutions business’, said managing director Kieyam Gamieldien (pictured above) said.
Asisa amends its fund classification standard for October implementation

1 week ago | citywire.com | Justin Adam Brown

The Association for Savings and Investment South Africa (Asisa) approved an amendment to its fund classification standard on 9 June. The amendment, which comes into effect on 1 October, follows the increase in the offshore limit from 30% to 45% in February 2022, in response to which Asisa launched several new Asisa categories in October last year, including SA-only fund categories.
What it would mean for SA to be removed from FATF’s greylist this year

1 week ago | citywire.com | Justin Adam Brown

The Financial Action Task Force (FATF) has announced that South Africa has substantially completed all 22 action items outlined in the action plan it adopted when the FATF placed the country on its grey list in February 2023. This situation paves the way for the FATF to remove South Africa from its grey list, possibly later this year – which, in turn, could have positive implications for the economy and financial markets, according toSanisha Packirisamy (pictured above).
FSCA mulls action against pension fund, while PFA urges 'haste’

1 week ago | citywire.com | Justin Adam Brown

The Financial Services Conduct Authority (FSCA) is mulling regulatory action against the South African Local Authorities Pension Fund (SALAPF) due to its failure to respond to requests from the Pension Funds Adjudicator (PFA). In a statement issued on 9 June, the PFA criticised the pension fund for its failure to respond to repeated requests for information and reported the fund’s alleged misconduct to the FSCA, urging the regulator to take action against the pension fund’s officials.
Guinness establishes SA feeder for flagship $8.2bn dividend income fund

1 week ago | citywire.com | Justin Adam Brown

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Allan Gray explains why its portfolio managers have dual focus

2 weeks ago | citywire.com | Justin Adam Brown

Allan Gray’s portfolio managers have a dual focus, divided between portfolio management duties and analysing investment assets. Fixed income portfolio manager Thalia Petousis (pictured above) told Citywire South Africa that this dual focus extends to the fact that they do not have strict asset class specialists but look at assets from both a fixed income and an equity perspective. In addition, they do not specialise in a single sector of an asset class, such as mining within equities.