Ninety One Unscripted | An incisive view of the world

Watch Morkel Kincaid, Sales Manager at Ninety One, in conversation with Jennifer Moynihan, Portfolio Specialist, Multi-Asset, and Nkhumeleni Thavhiwa, Director, SA Fixed Income. They discuss key global economic and investment trends and provide the inside track on the investment impact of the 2021 municipal elections.

Nov 8, 2021

45 minutes

Morkel Kincaid
Jennifer Moynihan
Nkhumeleni Thavhiwa
Watch Morkel Kincaid, Sales Manager at Ninety One, in conversation with Jennifer Moynihan, Portfolio Specialist, Multi-Asset, and Nkhumeleni Thavhiwa, Director, SA Fixed Income. They discuss key global economic and investment trends and provide the inside track on the investment impact of the 2021 municipal elections.

The fast view

  • On the global front, whilst the Chinese regulatory crackdown has provided headwinds for growth, the policy reset may be structurally good for the long term. Not all industries have been impacted and the clean energy sector has regulatory tailwinds.
  • Ninety One Global Strategic Managed Fund is currently invested in less cyclical and more growth/quality-focused stocks, underpinned by solid valuations. We also continue to find opportunities in the area of sustainability, such as battery manufacturers.
  • On the local front, while the ANC performed poorly in the municipal elections, Cyril Ramaphosa’s position is not weakened as the consensus is that he remains the party’s strongest brand and the ANC would have performed worse without him.
  • Expect the President to accelerate the process of ensuring clean governance and improving service delivery, given that the election results indicate these issues are not being tackled quickly enough.
  • A big catalyst for unlocking growth in South Africa is the infrastructure opportunity, with energy and spectrum featuring high on the list. Many believe that this is what the President wants to leave as his legacy.
Ninety One Unscripted | The prospects for the global economy
Making sense of the recent municipal elections and where to next for South Africa?

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Authored by

Morkel Kincaid
Sales Manager
Jennifer Moynihan
Product Specialist, Multi-Asset Team
Nkhumeleni Thavhiwa
Director

Important information

The information contained in this Viewpoint is intended primarily for professional investors and should not be relied upon by private investors or any other persons to make financial decisions. All of the views expressed about the markets, securities or companies in this document accurately reflect the personal views of the individual fund manager (or team) named. While opinions stated are honestly held, they are not guarantees and should not be relied on. Ninety One SA (Pty) Ltd in the normal course of its activities as an international investment manager may already hold or intend to purchase or sell the stocks mentioned on behalf of its clients. The information or opinions provided should not be taken as specific advice on the merits of any investment decision. We do not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Ninety One SA (Pty) Ltd is an authorised financial services provider.