Portfolio manager Hannes van den Berg says BAT and Shoprite are good defensive bets while Naspers, Prosus and Apple suddenly look cheap
The world may be teetering on the brink of a recession that has sparked a slide in stock markets worldwide, but that isn’t deterring SA’s biggest listed asset manager from looking for buying opportunities in the ashes of the market rout.
Ninety One, which was spun out of Investec in 2020 and oversees £143.9bn in assets, says that while it has trimmed the equity holdings in its general equity and balanced portfolios as part of a more defensive stance, it is already looking to buy quality stocks, which are suddenly looking cheaper thanks to the recent market mayhem.
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