SA Equity Portfolios Reconsidered

Rezco Asset Management hosted an investment webinar on 19 June 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 equity portfolios reconsidered. 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 Equity Portfolios Reconsidered 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. It's almost the basics of, of investing, as Rob's saying, is we're finding good businesses on, growing earnings, good quality, reasonable valuations, and we can build a portfolio.

Key themes discussed

• South African macro and politics
• US elections and policy
• bear markets and recessions
• emerging markets
• equity opportunities
• gold and precious metals
• Donald Trump
• Federal Reserve

Macro and market context

And, what's happened over the last few years is we've had all these risk events, substantial risk events, in South Africa, the election, globally, this whole inflation story, the post COVID period, there's been a lot that's hap happened. There's a picture there holding up the, the tariffs, at South Africa obviously was on the list and singled out at that stage.

Companies, sectors and ideas mentioned

• Discovery
• Gold Fields
• Harmony Gold
• Naspers
• Donald Trump
• Federal Reserve
• JSE
• Oval Office
• South African
• So South Africa

Rezco's risk and portfolio views

And you can't really see any risk in kind of the volatility or drawdowns on this slide. So, so here's the volatility return scatter plot of peers, this since inception than us, you can see we, we can outperform the benchmark at much lower levels of risk. It's almost the basics of, of investing, as Rob's saying, is we're finding good businesses on, growing earnings, good quality, reasonable valuations, and we can build a portfolio.