Investment Update - July 2021

Rezco Asset Management hosted an investment webinar on 27 July 2021, with Chief Investment Officer Rob Spanjaard, Co-Portfolio Manager and Head of Research Simon Sylvester, and Head of Distribution Brian du Plessis presenting views on july 2021. As a South African asset manager, Rezco explains how macro conditions, valuation and risk control shape unit trust and segregated portfolio decisions.

What this webinar covers

This webinar replay covers July 2021 and how Rezco interprets current markets for clients seeking risk-adjusted returns. The session focuses on Rezco Global Equity Fund, Rezco Managed Plus, Rezco Multi-Asset funds and related portfolio themes. So top 10 has, has, changed recently, Daniel, and so you'll see a more globally diversified portfolio, a lower beta kind of lower risk portfolio, within the, the equity fund, at the moment.

Key themes discussed

• South African macro and politics
• bear markets and recessions
• cryptocurrency
• emerging markets
• equity opportunities
• gold and precious metals
• Jerome Powell
• Joe Biden

Macro and market context

So you, so you're seeing an economy that's red, red hot in context within interest rates at N QE going along, at a, at at about 7% of GDP. Because the Fed have to stop QE sooner than expected, and they've got a jack of interest rates sooner than expected.

Companies, sectors and ideas mentioned

• Jerome Powell
• Joe Biden
• Larry Summers
• Federal Reserve
• JSE
• US Treasury
• Wally Gray
• Cape Town
• South African
• Jamie Diamond

Rezco's risk and portfolio views

We've, we've seen the vaccines work, although there's still some tail risks there if there's mutations. Outside of maybe a hedge equity strategy where you buy the beneficiaries of, say, yields going up, but you hedge it with, with, removing the market risk or the beta. So top 10 has, has, changed recently, Daniel, and so you'll see a more globally diversified portfolio, a lower beta kind of lower risk portfolio, within the, the equity fund, at the moment.