[SPONSORED] MW_Investments MD Paul Stewart’s perspective on banking concerns and why Counterpoint Asset Management rebranded. Moneyweb
CIARAN RYAN: Counterpoint Asset Management is a name familiar to those in the investment space. In 2023 it won a Raging Bull Award for the best South African General Equity Fund on a risk-adjusted basis over five years. Last year it won awards from both Morningstar and Raging Bull. It has R8.5 billion in assets under management and a 10-year track record of growth.
Many bank depositors weren’t that discerning about where they invested their money in banks because interest rates were so low. But obviously as interest rates started to rise many of those depositors have become more discerning. We’ve also seen markets starting to become concerned about some of the European banks. The most recent one is Credit Suisse. The share price was down 24%. There was talk about financial irregularities. Credit Suisse has been under the spotlight for some time but, of course, when you have one of these things happening in one place in the world, investors immediately start thinking well, maybe there’s more than one problem. And that’s what we’ve seen.
They’re well managed, they’re well capitalised; we certainly don’t think investors should be panicking. I would think that a banking index that’s down 7.5% does present a very attractive entry for an investor wanting access to the high-quality banking industry in South Africa. So yes, it’s not pleasant nonetheless for anybody who has money invested in the market right now.
So even though we’re multi-award-winning, and we’ve a team of people that are well known in the marketplace, there does come that difficult time in your life where you actually have to say, well, what is the best thing for the business? On average we felt that the best thing for the business was to adopt the brand of the parent of our group, so we’ve taken the decision to do that, and that decision was implemented effectively on 6 March this year.
Then we also acquired the business of a small Cape Town-based fund management business called Maestro during the course of last year. So we’ve been able to plug very particular skill sets into our overall investment competence. We think that investing is about expertise, it’s not an asset-gathering business.
PAUL STEWART: Yes, of course. We’ve been communicating with them for some time. So practically this is a cosmetic change. It’s not a change of ownership of the shares of the company. It’s not a change of the regulatory elements of the business. Our registered office stays the same. Our financial services provider number remains exactly the same. Our board and shareholding stay the same. This is really just a cosmetic change to align the brands with the Merchant West Group.
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.
City Open To Selling Prized Asset To Gauteng? | Soccer LadumaCape Town City is open to selling Thabo Nodada to any of the interested clubs from Gauteng, the Siya crew has been reliably informed. SLSiya Read more:
Read more »
COMMODITY FUTURES TRADING COMMISSION: Crypto advocates shrug off CFTC’s lawsuit against BinanceFor many veterans of the digital-asset world, the US Commodity Futures Trading Commission’s (CFTC’s) lawsuit against Binance Holdings for allegedly breaking derivatives rules is just another day in crypto.
Read more »
Three equity-investing metrics to watch[PODCAST] 'PE ratio, revenue growth and net debt to Ebitda are the important valuations when investing,' Kyle Wales of FlagshipAsset on MoneywebNow with SimonPB. Download the podcast below. Moneyweb Investing
Read more »
The pros and cons of using HFM for tradingIn this HFM review, we’ll take a close look at the broker in terms of their trading platforms, asset selection, and fees so you can make an informed decision.
Read more »
We will not risk total grid collapse to avoid a few hours of load-shedding — deputy presidentDeputy president Paul Mashatile assured South Africans that government and Eskom are doing everything they can to end load-shedding without compromising the grid.
Read more »
Ralph Mathekga | We don't need Mashatile's version of democracy here | News24OPINION | Deputy President Paul Mashatile’s maiden show in Parliament revealed that his version of democracy is a scary place to live in, writes Ralph Mathekga.
Read more »