The SouthAfrican unit of M&G Plc., the UK fund manager overseeing more than $390 billion in assets, sees opportunities in investing in the nation’s industrial and financial companies as earnings growth may surprise. Moneyweb Covid Business
The South African unit of M&G Plc., the UK fund manager overseeing more than $390 billion in assets, sees opportunities in investing in the nation’s industrial and financial companies as earnings growth may surprise. Some of these companies have recovered faster from Covid than many in the market anticipated, said Kaitlin Byrne, a Cape Town-based equities fund manager at the firm.
The Foschini Group is an example of a company that has bounced back from Covid better than anticipated. Sentiment around the Cape Town-based retailer just after Covid signaled “a very slow trajectory, but earnings came back a lot faster than the market had priced in,” Byrne said. The company swung from a loss to a profit when it reported full-year earnings on June 10.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HILARY JOFFE: Partnering of private and public sectors gave SA a Covid-19 leg upSolidarity Fund and Business for SA harnessed huge resources and expertise to tackle the crisis
Read more »
SA records 109 new Covid-19 casesThe positivity rate stands at 3.3 percent and over 3,000 tests were conducted in the last 24 hours.
Read more »
Kids ditch school ‘nje’ as Covid-19 takes a toll on children across SA | CitypressFormer pupils say the rotation system forced them to leave school, but some now regret their decisions and want to go back.
Read more »
HILARY JOFFE: Partnering of private and public sectors gave SA a Covid-19 leg upSolidarity Fund and Business for SA harnessed huge resources and expertise to tackle the crisis
Read more »
SA in winter of discontent: 'Voting not enough, give power back to the people' | The CitizenCitizens must be able to articulate what they need from government. South Africa's people are the country's last line of defence.
Read more »