Investment Update - October 2021

Rezco Asset Management hosted an investment webinar on 5 October 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 october 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 October 2021 and how Rezco interprets current markets for clients seeking risk-adjusted returns. The session focuses on Rezco Global Equity Fund, Rezco Multi-Asset funds, Rezco SA Equity Fund and related portfolio themes. Now, what we mean by foot flat on the accelerator, monetary stimulus, interest rates at zero with inflation.

Key themes discussed

• South African macro and politics
• US elections and policy
• bear markets and recessions
• cryptocurrency
• emerging markets
• equity opportunities
• Donald Trump
• Jerome Powell

Macro and market context

Now, what we mean by foot flat on the accelerator, monetary stimulus, interest rates at zero with inflation. But if you get inflation should monetary tightening recession, you get an equity bear mark and you take bonds stack and hit.

Companies, sectors and ideas mentioned

• Donald Trump
• Jerome Powell
• Larry Summers
• Federal Reserve
• JSE
• US Treasury
• Jeremy Grant
• Jamie Diamond
• So Goldilocks
• World War

Rezco's risk and portfolio views

We're not kind of a high risk hedge fund macro hedge fund. But in the context of a, of South Africa and the risk we taking, there's, there's this massive political risk at the time they say ink shares were, or exposure was down a percent or two, we are looking at the same, hang on, the risk asymmetric to the downside, you could lose a lot of money if this doesn't resolve nicely. We, we, in an environment where value will outperform growth, we've got some hedged equity there.