Important information

FT Longitude research paid for by Ninety One.

The information in this report may cover general market activity or industry trends and is not intended to be relied upon as a forecast, research or investment advice. The economic and market views presented herein reflect Ninety One’s judgment as at the date shown and are subject to change without notice.

There is no guarantee that views and opinions expressed will be correct, and Ninety One’s intentions to buy or sell particular securities in the future may change. The investment views, analysis and market opinions expressed may not reflect those of Ninety One as a whole, and different views may be expressed based on different investment objectives. Ninety One has prepared this communication based on internally developed data, public and third party sources. Although we believe the information obtained from public and third party sources to be reliable, it may not have been independently verified, and we cannot guarantee its accuracy or completeness. Ninety One’s internal data may not be audited.

Except as otherwise authorised, this information may not be shown, copied, transmitted, or otherwise given to any third party without Ninety One’s prior written consent. © 2023 Ninety One. All rights reserved. Issued by Ninety One. November 2023.