DID YOU KNOW? HAIRCUT

Foreword | Issue 66 | 2nd Quarter 2023

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Foord's High Conviction Call on the Global Energy Transition

The global energy transition presents a compelling opportunity for the astute investor. Its implications extend far beyond a simplistic switch from fossil fuels to renewable energy. Instead, it invites a nuanced understanding of the complex interplay between economics, technology, geopolitics, and societal aspirations that underpin the global energy system. In this comprehensive review, Foord Singapore portfolio manager ISHRETH HASSEN unpacks these dynamics to identify the potential winners and losers of this momentous shift.

Cultivating Financial Literacy in the Young Minds of Tomorrow

While the thought of introducing complex monetary concepts to a young mind may seem overwhelming, studies from institutions like Cambridge University suggest that children as young as three can begin grasping basic financial principles. By providing an early education in finance, we encourage monetary independence and responsible spending in adulthood.

South Africa's Debt Dilemma — Risks and Opportunities

South Africa’s sovereign fundamentals have deteriorated alarmingly over the past decade — so much so that the country now finds itself entangled in a debt crisis. Portfolio manager FARZANA BAYAT looks at the implications of the debt dilemma and the investment strategies Foord employs to protect investor capital while yielding inflation-beating returns.

Markets in a nutshell — June 2023

Global equity markets rallied broadly again in June, seemingly immune to sticky inflation and possible further US, UK and Eurozone rate hikes. This capped a robust first half to 2023, with the MSCI World Index returning 13.9% in US dollars despite escalating geopolitical tensions, slowing economic conditions, hawkish central bank rhetoric and the US regional banking crisis.

MARKETS IN A NUTSHELL — JUNE 2023

In our monthly podcast, ‘Markets in a nutshell’, Brian Arcese discusses what’s happened in global and South African markets and economies over the past month, how we see things playing out and how Foord is positioned as a result.

SA Equities: Where we see the best opportunities

Linda Eedes talks to Wim Murray, multiple-counsellor portfolio manager on the Foord Equity Fund. Together they discuss the three categories of SA equities - the global companies which are listed in SA with revenues from around the world, the domestically focused businesses which are tied to the local economic cycle (SA Inc.) and resources which are tied to the commodity cycle - and what presents the best opportunities for South African investors.

The US Banking Crisis — What this means for SA banking

Foord fixed income portfolio managers Rashaad Tayob and Farzana Bayat talk to Linda Eedes about the US banking crisis. After a steady rise in inflation and interest rates over the past year, US banks continue to bleed deposits. What does this mean for SA banking and our fragile economy?

3 Key Components to Assess the Trajectory of US Inflation

When looking at the outlook for inflation in the US we have to consider 3 key components. These being, the impact of commodity prices, rental prices in the US and wage price inflation. Linda Eedes, discusses these in detail.