Insights

The Investment Perspective podcast

Why portfolios need to be built for shorter, sharper cycles

Bonds and the dollar no longer behave the way investors expect, and big market moves now play out over weeks, not years. Jason Borbora-Sheen explains what that means for a Fed still weighing a December hike, and how to build portfolios that hold up when everything moves at once.

10 minutes

30 Oct 2026

Notes from the road

The end of plenty – opportunities in agriculture

A week in the Corn Belt, including farm visits and meetings with companies across the US agricultural value chain, highlighted that the backdrop in agriculture is changing. We see selective opportunities for long-term investors.

6 minutes

28 Oct 2026

Infrastructure investing

Offshore limit is a ceiling, not a target: how SA can keep savings working at home

For a country with significant developmental needs, how and with whom savings are invested matters as much as how much stays onshore.

6 minutes

28 Oct 2026

Hidden GEMS

China’s biotech revolution is creating a new generation of global innovators

From generic manufacturing to developing innovative medicines, China’s pharmaceutical industry is moving up the value chain, creating new opportunities for equity investors.

5 minutes

26 Oct 2026

The Investment Perspective podcast

Energy shares are still priced for peace

Brent has swung between $70 and $120 this year, but Paul Gooden doesn’t expect a quick return to normal. Refining margins, depleted inventories and a conflict with no quick exit will keep demand elevated for years. Meanwhile, energy equities still price in a world that no longer exists.

10 minutes

23 Oct 2026

The Investment Perspective podcast

MTBPS: Treasury cuts bond issuance, adds buybacks (and finds room for fuel relief!)

The MTBPS surprised on revenue and spending, then won over the bond market. Adam Furlan and Entle Mavuso explain why they came away encouraged, and what still needs watching.

12 minutes

22 Oct 2026

Case study

Verdure Finance (RF) Limited

A proven route into South Africa's fast-growing C&I renewable energy sector.

21 Oct 2026

Macroscope

Why a sideways dollar isn’t the end of the emerging markets story

A weaker dollar has long been a tailwind for emerging market returns. The US currency may trade sideways for a spell, while Paris and Beijing hold back the euro and Asian currencies, but its structural downcycle is far from over. Meanwhile, emerging market asset classes still offer plenty of opportunity for selective investors.

4 minutes

19 Oct 2026

Credit Chronicle

Credit Chronicle: Q3 2026

Our credit experts review how credit markets fared in the third quarter of the year and share the latest scorecards for the global credit universe.

3 minutes

15 Oct 2026

The Investment Perspective podcast

Markets look mad, but the strategy behind them is coherent

Memory chips up 600%, a US war with Iran, oil above $100 and equities at record highs. Philip Saunders argues the madness is mostly noise. Beneath it sit four forces, a US playbook that makes sense, and bonds that finally offer value.

16 minutes

13 Oct 2026

Infrastructure investing

South Africa's AI future will be built on power

AI’s potential in South Africa will depend on more than digital adoption. As demand for computing power grows, the availability of reliable, affordable electricity and the infrastructure to deliver it will become increasingly critical.

6 minutes

13 Oct 2026

Quality

Motorola: an integral player in critical communications

While many people still associate the Motorola name with the flip phones of the 1990s and early 2000s, this nostalgia is a thing of the past. Over time, the business has transformed itself into a provider of critical communication networks for emergency services globally. Paul Jones explains why this makes the company an ideal candidate for the Quality universe.

4 minutes

09 Oct 2026

The Investment Perspective podcast

Finding value as bond yields rise

Global bond yields are rising again, challenging decades of falling rates, but John Stopford sees a cyclical move, not a regime shock. He explains why he is turning constructive on bonds and why the AI boom is the key risk for equities and credit.

14 minutes

09 Oct 2026

Market review

Q3 in review

Markets diverged in the third quarter, with equities holding firm while bonds sold off as yields rose. A renewed US-Iran escalation lifted Brent crude sharply, reviving inflation concerns and prompting central banks in the US, Eurozone and Japan to raise rates in September. Equities still made modest gains, led by the US and supported by resilient growth and robust earnings, while gold and copper also rose.

8 minutes

06 Oct 2026

Insights

The fine line between financial access and exclusion is drawn by design

What the Machine infers about you can open doors or lock them for good. Khadeeja Bassier on why the design of AI, not the technology itself, decides which.

5 minutes

02 Oct 2026

Quality

Trillion dollar IPOs and the new Magnificent 10

SpaceX, Anthropic and OpenAI could reshape global equity indices as dramatically as any companies in history. What does the IPO class of 2026 mean for passive and active investors?

4 minutes

02 Oct 2026

The Investment Perspective podcast

Gold's slide didn't break the bull case, it tested it

Gold fell from over $5 500 to about $3 600 this year, and central banks stepped back before coming back in force in the second quarter. Muhammad Docrat explains why the structural case still holds and what gold does for a portfolio that other assets can't.

14 minutes

01 Oct 2026

The Investment Perspective podcast

Trump's welcome for Xi signals a shift markets shouldn't ignore

Xi Jinping's Washington visit was more significant than the tariff concessions it produced. The symbolism, including Trump meeting Xi on the tarmac, points to Washington finally treating Beijing as a peer, Philip Saunders argues. For investors who've long priced in a Taiwan flashpoint, that shift deserves more attention than the trade headlines it generated.

8 minutes

29 Sep 2026

The Investment Perspective podcast

The biggest risk to SA bonds isn't the SARB decision, it’s DM yields

Three central banks moved last week. A fourth, our own, decides this week. If you're trying to draw one lesson from all of it, Ruen Naidu argues, it’s this: the decision that matters most for South African bonds isn't the one the SARB is about to make.

9 minutes

22 Sep 2026

Case study

Impofu Cluster Investments (Sasol and Air Liquide)

Using renewable energy to increase grid capacity.

17 Sep 2026

SA investment insight

Active and passive: better together

The active-versus-passive debate is too often framed as an either/or choice. In reality, both have a role to play: passive strategies offer efficient, low-cost market exposure, while genuine active management can add value where markets are less efficient and research can uncover opportunities. The key is knowing where each approach works best.

12 minutes

16 Sep 2026

4Factor

Gold: what central-bank buying means for mining equities

Central banks have returned to the gold market in force since the Q1 slowdown. With the gold price appearing better supported than many market participants had assumed, the case for a re-rating of gold equities is strengthening.

3 minutes

16 Sep 2026

Value

Value investing Q&A: Finding opportunity in uncertainty

The Value team explains how it hunts for mispricings in moments of rising uncertainty in markets.

5 minutes

15 Sep 2026

Macroscope

The global bond selloff isn't as global as it looks

Developed-market bond yields have risen together, but for very different reasons. The contrast between the UK and US shows why investors need to look beneath the headline move.

5 minutes

14 Sep 2026

The Investment Perspective podcast

SA’s old economy is cashing in on the new economy's boom

A JSE that looks strong on the surface is really two markets in one: diversified miners and gold and platinum names riding the global AI infrastructure and commodities boom, against an SA Inc split between struggling retailers and resilient banks. Samantha Hartard explains why SA, despite having almost no tech exposure, is still finding a way into the AI trade through copper, coal and the physical buildout behind it.

13 minutes

11 Sep 2026

Emerging Markets Equity

EM technology: a volatile but integral part of AI’s future

EM equity gains in 2026 have been narrow, concentrated in AI-driven information technology. Archie Hart and Varun Laijawalla explain why this memory upcycle looks structurally different to previous ones, with recent earnings from the key players supporting a fundamentals story. They believe the theme is early, rather than exhausted.

8 minutes

10 Sep 2026

All China Equity

Beyond AI: the growth engines transforming China

Growth momentum is building across the Chinese economy, not solely in technology-linked sectors. We see opportunities for investors to align with the country’s ongoing structural transformation.

5 minutes

09 Sep 2026

4Factor

The revenge of the old economy

AI is driving new demand for commodities, while supply remains disciplined – supporting the outlook for natural resources equities.

7 minutes

08 Sep 2026

The Investment Perspective podcast

Munitions, multiples and midterms: the risks the markets might be missing now

Malcolm Charles breaks down why two wars, an AI-distorted equity market and an unpredictable US election are colliding at once, and what it means for investors.

11 minutes

04 Sep 2026

The Investment Perspective podcast

Bessent and Warsh at loggerheads: who controls the curve?

US Treasury Secretary Scott Bessent has been buying back long bonds to calm a sell-off at the long end of the yield curve. Fed governor Kevin Warsh, fresh from a hawkish Jackson Hole speech, wants the opposite: a smaller balance sheet and a clear signal from the curve. Ruan Naidu unpacks why the two are at odds, and why an oil price spike could override both.

8 minutes

03 Sep 2026

Market review

August in review

August was a strong month for risk assets, with equities extending their advance as gold surged on renewed fiscal and inflation concerns. Resilient earnings, highlighted by another blowout Nvidia report, drove US and European equities to fresh records, while sharp moves in bond yields kept fixed income markets volatile. Gold jumped 10% as investors sought protection against inflation and financial repression, while emerging markets extended their gains on the back of the AI trade.

8 minutes

03 Sep 2026

The Investment Perspective podcast

The revenge of the old economy

The AI trade's next chapter is likely to run through copper, natural gas and gold, not chips. Paul Gooden sees natural resource equities in the early innings of a new cycle, underpinned by unusually tight supply discipline and free cash flow yields roughly double the global equity market. It's a contrarian case for an out-of-favour asset class riding on the world's most crowded theme.

11 minutes

31 Aug 2026

2026 event replay

Women & Investing 2026 seminar

Your finances. Your future. Your move. Replays are now available.

2:30 hours

26 Aug 2026

The Investment Perspective podcast

El Niño is brewing a third inflation shock, which markets have yet to price in

El Niño is converging with the Middle East energy shock and fertilizer supply disruptions to create a compounding inflation risk that markets have barely begun to account for. Nicolas Jaquier draws on IMF research showing El Niño has historically driven a fifth of global commodity price swings, and explains why Brazil and Argentina are better placed to absorb the shock than Southeast Asia and Colombia.

10 minutes

25 Aug 2026

Emerging Markets Equity

EM still in its multi-year ascent

It has been another strong year for EM equities, which has left many investors pondering where exactly we are in this cycle. Archie Hart and Varun Laijawalla explain why there is scope to capture a re-rating that they believe has considerable upside from here.

6 minutes

25 Aug 2026

Picture this

Picture this: The AI financing boom shakes up credit markets

The AI theme in credit markets is evolving rapidly. New financing packages can provide better compensation for risk but they require careful diligence.

1 minute

25 Aug 2026

Deliberating EM debt

Emerging market debt – navigating headwinds, eyeing the horizon

The headwinds facing EM debt today are cyclical and manageable, with mispricing and divergence across countries creating a fertile hunting ground for active investors. Crucially, the strength of structural tailwinds behind the asset class is undiminished.

5 minutes

21 Aug 2026

2026 event replay

Know your numbers: the financial checklist every woman should have

Confidence starts with clarity. Before you can make your next move, you need to understand where you stand today. From retirement readiness and emergency savings to insurance gaps and estate planning, this practical session turns awareness into action.

16 minutes

20 Aug 2026

2026 event replay

Investing in their future

Education costs, generational wealth, and balancing your children's future with your own retirement.

25 minutes

20 Aug 2026

2026 event replay

Money and marriage

Marital regimes, financial independence, divorce, and widowhood. Everything you need to maintain visibility, independence and confidence through every season of life.

20 minutes

20 Aug 2026

2026 event replay

The seat is only the beginning

In this candid conversation, Khadeeja Bassier reflects on her experience of building confidence, finding her voice and learning to trust her judgement, lessons that matter as much in our financial lives as they do in our careers.

13 minutes

20 Aug 2026

2026 event replay

Closing the retirement gap

It's not too late, but the clock matters. RAs, TFSAs, the two-pot system, and practical steps to strengthen your retirement outlook.

23 minutes

20 Aug 2026

2026 event replay

Next-gen investing: new rules, new tools

From AMETFs to tokenisation, how to invest your first pay cheque (or your next one) intelligently. Less jargon, more action.

19 minutes

20 Aug 2026

The Investment Perspective podcast

South Africa's budget windfall is real. So is the discipline behind it

A R30 billion tax surprise in June, driven by mining royalties, has put South Africa's fiscal turnaround back in the spotlight. Adam Furlan argues the real story isn't the windfall, it's what Treasury does with it: two straight years of primary surpluses and a coming fiscal rule point to an improving credit story that bond markets haven't fully priced in.

8 minutes

19 Aug 2026

Women and Investing

Your Life File: a practical estate planning checklist

A clear, step-by-step checklist to help you organise and safeguard your essential personal, financial and legal documents, giving you – and your loved ones – confidence that everything is in order.

18 Aug 2026

Women and Investing

Your financial wellness checklist

Confidence starts with clarity. Before you can make your next move, you need to understand where you stand today. From retirement readiness and emergency savings to insurance gaps and estate planning, this practical guide turns awareness into action.

17 Aug 2026

Women and Investing

Marriage and money: what you need to know about your marital regime

Ask most women about their wedding day, and they’ll tell you every detail: the dress, the flowers, the first dance. Ask about the marital regime they signed that same day, and it’s often a different story.

5 minutes

17 Aug 2026

The Investment Perspective podcast

Nvidia is cheaper than the S&P 500. Someone is wrong.

The AI debate has moved past valuation and onto something harder to price: whether record capex converts into durable cash flow. From SpaceX's post-IPO wobble to China's cheaper models and the sector's circular financing, Anton du Plooy makes the case for why stock selection, not conviction on AI as a trade, will separate winners from losers.

11 minutes

13 Aug 2026

Hidden GEMS

A prolonged El Niño could complicate the path back to lower inflation

Overlapping pressures across agriculture, fertiliser and energy markets could create fresh inflationary risks this year, with wide ranging implications for commodity markets, monetary policy and emerging market assets.

4 minutes

12 Aug 2026

The Investment Perspective podcast

AI's listing boom could end two decades of US equity tailwinds

For 20 years, buybacks and shrinking share counts boosted US equity returns. Sahil Mahtani argues that AI-driven IPOs and secondary issuance are set to reverse that trend, potentially dragging returns down. He draws a parallel to EMs in the 2010s, where a similar issuance wave eroded returns, but says that headwind for EMs is fading just as it builds in the US.

13 minutes

12 Aug 2026

Infrastructure investing

Powering SA’s renewable shift

South Africa's renewable energy market is evolving beyond government-backed procurement towards direct corporate power purchase agreements. For South Africans, that means new generation and energy security without relying on the public purse; for infrastructure investors, it means new opportunities that require a different approach to risk. The Impofu Cluster shows what this shift looks like in practice.

8 minutes

07 Aug 2026

In Perspective

Consumer in the crossfire

South Africa's consumer has played an outsized role in supporting economic growth over the past two years, but that support is beginning to fade. The next phase of growth will increasingly depend on investment, particularly as infrastructure spending gathers momentum.

5 minutes

07 Aug 2026

Market review

July in review

Global markets split sharply in July, as a reassessment of AI valuations collided with a renewed oil shock. Doubts over AI capex and monetisation weighed heavily on technology and semiconductor stocks, while the collapse of the US-Iran agreement drove oil prices sharply higher, lifting energy, defence, and value-oriented markets. The result was one of the sharpest rotations in market leadership so far this year.

13 minutes

07 Aug 2026

Taking Stock Event

Taking Stock event - Winter 2026

Replays of our recent Taking Stock webinar are available to watch below.

06 Aug 2026

The Investment Perspective podcast

A coordinated yen rescue can't fix Japan's real rate problem

Jason Borbora-Sheen unpacks the first coordinated US-Japan currency intervention since 1998 and why a stronger yen won't hold unless Japan's real rates move. He argues the bigger signal is a global rate cycle that may be settling higher than markets expect, and explains how that's shaping a cautious stance in fixed income.

9 minutes

05 Aug 2026

Global Investment Conference 2026

Public and private markets in a new era

Speaking at Ninety One's recent Global Investment Conference in London, a panel of investment specialists explored how the relationship between public and private markets is changing. The discussion examined why private markets have attracted so much capital over the past decade, whether investors are still being rewarded for giving up liquidity, and where opportunities may lie as both markets continue to evolve. Here are the key takeaways.

8 minutes

04 Aug 2026

Macro insights

Multi Asset Strategy Quarterly – July 2026

Ninety One's multi-asset growth team provides insights into the macroeconomic environment that informs our investment outlook for the coming quarter. This includes concise summaries of our asset class views.

5 minutes

03 Aug 2026

Women and Investing

What it takes to be first and carry ambition without apology

She left South Africa at 17 with nothing but ambition. Now Phuthi Mahanyele-Dabengwa, Group Executive Director of Naspers and Prosus, sits down with Natalie Phillips, Deputy Managing Director of Ninety One South Africa, to unpack what it really costs to be the first.

33 minutes

31 Jul 2026

The Investment Perspective podcast

The Fed's new chair just showed markets he'd rather they guess

The US Federal Reserve held rates steady for a fifth straight meeting, but three dissents and a chair who won't give forward guidance left bond markets more unsettled than the decision itself. John Stopford explains why the confusion matters more than the vote, and what it means for positioning across bonds and equities.

6 minutes

31 Jul 2026

Investment Institute

Beyond the one-way trade

For years, capital has gravitated to the US.  A one-way trade powered by tech dominance and economic heft. But as the world tilts on its axis, the next cycle is unlikely to resemble the last, and the investment map is beginning to redraw itself.

30 Jul 2026

Investment Institute

AI and the return of US equity supply

A shrinking supply of shares has flattered US equity returns for years. The AI issuance boom is putting that into reverse.

15 minutes

30 Jul 2026

Global Investment Conference 2026

What a difficult fifteen years may have been hiding

The case for emerging market equities is beginning to change. Speaking at our recent Global Investment Conference, Varun Laijawalla explained why several fundamental forces that weighed on the asset class now appear to be turning. Here are the key takeaways.

9 minutes

30 Jul 2026

Global Investment Conference 2026

Portfolio construction in an age of concentration

Tom Peberdy reflects on how institutional investors are adapting portfolio construction as markets become more concentrated and the traditional sources of diversification evolve. These observations follow from a discussion he moderated with a panel of global asset allocators.

7 minutes

29 Jul 2026

Credit Chronicle

Credit Chronicle: Q2 2026

Our credit experts review how credit markets fared in the second quarter of the year and share the latest scorecards for the global credit universe.

10 minutes

29 Jul 2026

Global Investment Conference 2026

 The shift behind the noise

At our recent Global Investment Conference, Hendrik du Toit opened proceedings with a panel discussion on how increasingly multipolar the world has become, and what that means for investors navigating a more complex global landscape. Here are the key takeaways.

8 minutes

28 Jul 2026

The Investment Perspective podcast

After SARB surprises, all eyes turn to hawkish Fed

The SARB's split decision to leave the repo rate at 7% caught almost every economist off guard, but Ruen Naidu argues the central bank's own scenario analysis tells a more nuanced story. He unpacks why a lower-for-now stance doesn't mean a dovish central bank, and sets out what the Fed's own hawkish pivot under its new chair means for global bond markets.

10 minutes

28 Jul 2026

Corporate Solutions

Duration without the drama

With the SARB expected to hike again many treasurers are questioning whether duration has any place in a treasury portfolio. It is the right question. But weighted, short-end duration behaves very differently from significantly longer bond fund duration, and that difference could materially improve your cash returns without compromising the stability your mandate requires.

4 minutes

23 Jul 2026

The Investment Perspective podcast

Two scoreboards: why SA credit holds up while the economy limps

SA corporate credit holds up even as GDP growth stalls and inflation risk builds. Stephen Naidoo explains why strong technicals, not improving fundamentals, are driving the market, and why that gap demands a more conservative, quality-first approach rather than complacency.

8 minutes

20 Jul 2026

Case study

Lesotho Highlands Water Project Phase II

An integral player in South Africa’s infrastructure ecosystem.

17 Jul 2026

The Investment Perspective podcast

South African value is priced like a distress sale, and the bond market disagrees

John Biccard argues that South African equities have become disconnected from the country's own improving bond market. He points to retail names trading at deep discounts to intrinsic value, a first move into global technology after a brutal software sell-off, and a patient multi-year bet on a spirits recovery. In short: buy what's hated, hold through the discomfort, and let the turning point do the work.

23 minutes

13 Jul 2026

Notes from the road

Four themes shaping the next phase of energy markets

Markets are pricing in a rapid normalisation of Middle East oil supply following the US-Iran conflict. The talk at a resources industry conference highlights that risks remain.

6 minutes

07 Jul 2026

The Investment Perspective podcast

Beyond the index giants: the case for active EM

After a blistering 18 months for emerging market equities at an index level, the concentration risk has now become a concern for many. Portfolio Manager Varun Laijawalla argues that beneath the headlines is a story of a wider opportunity set from which an active portfolio could benefit.

12 minutes

03 Jul 2026

Market review

Q2 in review

Risk assets had one of their strongest quarters in years, with easing geopolitical risks in the Middle East backed up by resilient earnings, and continued AI-capex-driven growth. Emerging markets, especially Korea and Taiwan, outperformed the US, while commodities came under pressure after the peace deal and expectations for rate hikes. Global credit markets also delivered a strong rebound over the quarter.

8 minutes

03 Jul 2026

Sustainable investing

Why a just energy transition requires an all-systems approach

A just energy transition is about more than decarbonisation. Using South Africa as a live example, this paper explores why credible transition outcomes depend on the alignment of policy, infrastructure, capital and communities, and the role investors can play in supporting them.

5 minutes

01 Jul 2026

Quality

The music is still playing. But for how long?

As AI euphoria drives markets to historic concentration levels, the question every investor should be considering is: how much longer can the music play?

7 minutes

30 Jun 2026

The Investment Perspective podcast

The dollar's reversal: from debasement fears to strength

After expectations of a structural US dollar bear market in 2025, conditions appear to have shifted. The greenback has strengthened, but is this simply safe-haven buying amid the Iran conflict, or higher inflation supporting tighter US monetary policy? Jason Borbora-Sheen examines the issues.

8 minutes

30 Jun 2026

Hidden GEMS

The bull case for emerging markets just got stronger

As global investors reassess their allocations, emerging markets are entering the second half of the year from a position of genuine strength.

5 minutes

29 Jun 2026

Value

Rethinking value investing

A low multiple is not necessarily a sign of value. Genuine value arises when there is a gap between the market value of a company and its true intrinsic worth.

6 minutes

26 Jun 2026

Fixed Income

A new era, a new Fed chair

Kevin Warsh's first FOMC meeting as chair left little room for ambiguity. Ruen Naidu and Brian Kahn unpack what his hawkish debut means for the rate path, for the dollar, and for Fed independence.

5 minutes

24 Jun 2026

The Investment Perspective podcast

Oil is falling, but South Africa's inflation fight is far from over

Oil prices have pulled back sharply from their peak, but Vivienne Taberer warns that the relief may come too late to spare South African consumers further pain. With the SARB watching closely for signs that inflation expectations are becoming unanchored, more rate hikes may well be on the table before any cuts return.

6 minutes

23 Jun 2026

The Investment Perspective podcast

Peace plan, messy reality: commodities after Iran deal

The interim Iran peace plan has sent oil sharply lower, but the more interesting questions lie elsewhere. From gold's structural demand story to copper's confounding surplus, coal supply disruptions, and the fertilizer shock still working through the system, George Cheveley walks through why he believes the market is moving too fast to declare the crisis resolved.

14 minutes

18 Jun 2026

Macroscope

The great transatlantic divergence

AI and the Iran conflict are pushing Europe and the US onto sharply different economic and monetary paths.

5 minutes

17 Jun 2026

Equities

The $1.75 trillion question: an IPO that could change everything

The SpaceX IPO is just the opening act. With Anthropic and OpenAI now both filing confidentially for their own listings, Ninety One analyst Anton du Plooy considers what a wave of trillion-dollar AI debuts means for markets, and for the investors who have to decide what to do about them.

13 minutes

11 Jun 2026

The Investment Perspective podcast

When the rule book no longer applies

AI is reshaping the US economy in ways that confound historical precedent. Philip Saunders makes sense of a market landscape where growth is real but uneven, inflation risks are manageable but not absent, and the old playbook may no longer be enough.

11 minutes

11 Jun 2026

Fixed Income

SA Fixed Income outlook | Keep calm and ride the rate cycle

As global bond markets reprice and volatility builds, the outlook for fixed income is anything but straightforward. Malcolm Charles assesses the global backdrop and what it means for SA bonds, where ratings upgrades and real yields continue to shape the opportunity set.

7 minutes

11 Jun 2026

Fixed Income

Why South Africa is holding its nerve

Despite a severe global energy shock, South Africa is showing unexpected resilience, backed by hard-won fiscal discipline, credible monetary policy and a commodity cushion.

6 minutes

09 Jun 2026

The Investment Perspective podcast

The $1.75 trillion question: an IPO that could change everything

The SpaceX IPO is just the opening act. With Anthropic and OpenAI close behind, Anton du Plooy considers what a wave of trillion-dollar listings means for markets, and for the investors who have to decide what to do about them.

13 minutes

05 Jun 2026

The Investment Perspective podcast

Holding its nerve: how SA is weathering the oil shock

The Strait of Hormuz closure has rattled global energy markets, but South Africa is weathering the shock better than many expected. Ruen Naidu explains what the Moody's outlook upgrade signals, why the rand has held up, and how long South Africa can absorb persistently elevated oil prices.

12 minutes

04 Jun 2026

Market review

May in review

Financial markets were broadly positive in May. Global equities advanced, led by technology stocks as AI enthusiasm remained a key driver of performance. Bond markets were more volatile, with a sharp mid-month sell-off driven by inflation concerns and uncertainty surrounding the US-Iran conflict. However, sentiment improved later in the month as hopes of a US-Iran deal increased, helping oil prices to fall sharply and supporting both sovereign bonds and credit markets. Commodities were mixed overall, with industrial metals advancing while Brent crude recorded its largest monthly decline since the pandemic.

13 minutes

03 Jun 2026

Corporate Solutions

When “safe” money turns risky

Corporate cash is no longer a decision investors can afford to treat as routine. In a shifting market landscape, yield, capital preservation, and liquidity depend not only on the asset class but on the quality of the manager behind it.

4 minutes

27 May 2026

Global investment insight

If oil inventories run down: a reckoning in the making

What the supply-demand numbers really mean for oil prices, and why the market may not have fully caught up.

5 minutes

26 May 2026

Global Natural Resources

Preparing for regime change: the role of natural resources equities

Natural resources equities can mitigate vulnerability to equity market-regime shifts. The asset class has distinct performance drivers that may complement existing equity allocations.

8 minutes

22 May 2026

The Investment Perspective podcast

A 4% wake-up call: reading the SARB's next move

A supply shock has shifted the inflation picture, and the SARB's next move matters. Adam Furlan discusses the case for early action, the risk of second-round effects, and why Ninety One remains cautious on duration at the front end of the curve.

6 minutes

21 May 2026

The Investment Perspective podcast

Beyond the index: why concentration risk may be active management's biggest opportunity

Markets are more concentrated than ever, and that changes the equation for investors. Siobhan Simpson uncovers the risks beneath the surface of major indices, from the Magnificent Seven to precious metals dominating the JSE, and explains why these conditions may be creating some of the most compelling opportunities for active management in years.

11 minutes

20 May 2026

From the income desk

Making sense of recent market moves

Amid a volatile geopolitical backdrop, risks relating to the US private market and AI disruption have driven big moves in credit markets this year. Co-head of Developed Market Credit, Justin Jewell, and Investment Director, Jared Cook, discuss these themes and consider how credit investors can navigate them.

7 minutes

19 May 2026

Macroscope

Markets test the limits of AI optimism and oil risk

Markets may be underestimating the economic impact of the Hormuz disruption even as AI optimism accelerates, creating a growing disconnect between buoyant markets, fragile consumers and geopolitical risk.

7 minutes

18 May 2026

The Investment Perspective podcast

A very tight strait. Can oil get to $150?

With the Strait of Hormuz blockaded and global oil inventories drawing down fast, the oil market is approaching a critical inflection point. Paul Gooden cuts through the geopolitical noise to explain the supply-and-demand dynamics at play, what the numbers actually mean for oil prices, and why equity investors are more cautious than you might expect.

12 minutes

18 May 2026

Sustainable Equity

Why there’s a HALO over decarbonisation companies

The decarbonisation investment universe is well-stocked with ‘heavy-asset, low-obsolescence’ companies that are well-placed to benefit from an investment supercycle.

6 minutes

15 May 2026

Global Natural Resources

Natural resources equities vs. commodities: understanding the structural advantages of equity exposure

Investors typically access natural resources through either commodities or equities, but the outcomes can look very different over time. This paper explores why natural resources equities have historically provided a broader and more resilient source of returns.

5 minutes

13 May 2026

Fixed income

The Fed, Trump and Warsh: A test of independence

Behind the headlines surrounding Jerome Powell, Donald Trump and Kevin Warsh lies a bigger story – one about trust, credibility and the future direction of the Federal Reserve.

7 minutes

11 May 2026

Planetary Pulse: Targeting effectiveness

Asset owners weigh risks and opportunities of investing for an inclusive energy transition.

Road to 2030

Our Road to 2030 research aims to help investors maintain awareness of the transformative themes shaping our world.​

Two-pot retirement reform

Our retirement fund industry has undergone significant changes with the introduction of the two-pot retirement system on 1 September 2024. This new system aims to balance the need to preserve long-term savings while providing limited emergency access to funds.

Women & Investing

Explore our Women & Investing hub, created to help you take ownership of your financial future.

Investing offshore

Looking for an offshore investment partner? With 21 international offices across 14 countries and more than 250 investment professionals serving clients from 112 countries, Ninety One is here for you and everywhere for your money. Isn’t it time to change the way you see investing?

Sustainability

We believe that the privilege of investing your capital carries with it a responsibility to try to secure a sustainable future.

Investment Institute ​

An investment-led platform for insights, partnership and research.​