SA's Political Shift

Rezco Asset Management hosted an investment webinar on 11 February 2025, 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 sa's political shift. 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 SA's Political Shift and how Rezco interprets current markets for clients seeking risk-adjusted returns. The session focuses on Rezco Managed Plus, Rezco Multi-Asset funds, Rezco SA Equity Fund and related portfolio themes. And you could argue the cyber being very hawkish, that gap between inflation and interest rates is very high and there's a lot of scope to, to reduce it.

Key themes discussed

• South African macro and politics
• US elections and policy
• artificial intelligence in investing
• bear markets and recessions
• emerging markets
• equity opportunities
• Donald Trump
• Joe Biden

Macro and market context

And you could argue the cyber being very hawkish, that gap between inflation and interest rates is very high and there's a lot of scope to, to reduce it. The other risk in our view, and but we have flagged it, is that the global, especially the US monetary policy, there's some kind of inflationary risk still in the system that flares up, that that's an issue.

Companies, sectors and ideas mentioned

• Discovery
• Microsoft
• Standard Bank
• Donald Trump
• Joe Biden
• Federal Reserve
• National Treasury
• Appropriation Act
• South African
• And Canada

Rezco's risk and portfolio views

The risk is manageable because we are not Mexico, our non mineral exports are quite small, particularly to the us It's mostly vehicles. There's, but there's this risk, just, let's not pick fights with people we don't need to pick fights with. So in our portfolio of those five shares, the Ford PE ratio, the valuation is eight versus what we are seeing in the benchmark of 11.