Shows / The Investment Perspective, with Ninety One
The Investment Perspective, with Ninety One
Discover the latest local and global investment and industry insights from the only global asset manager rooted in South Africa. At Ninety One, our global reach becomes your investment edge. Tune in, subscribe, and unlock expert perspectives with every new episode.
Ninety One is an authorised financial services provider.
Hosted on Acast. See acast.com/privacy for more information.
Episodes
The Investment Perspective, with Ninety One#54 Private credit comes of age
Once a quiet corner of the alternatives market, private credit is now stepping into the mainstream. As investors seek yield, diversification, and real-world…
The Investment Perspective, with Ninety One#53 Cash Talk: The resilient rand – what’s driving it and how long can it last?
The rand has been one of 2025’s standout performers: stronger against the dollar, steady against peers, and buoyed by solid fundamentals. A weaker greenback…
The Investment Perspective, with Ninety One#52 Climbing the wall of worry – on market momentum and hidden value
Stock markets at home and abroad have soared this year, but not all sectors are sharing in the gains. From the resource-heavy rally on the JSE to the dominance…
The Investment Perspective, with Ninety One#51 The Fed’s flip – why risk management could be a tailwind for equities
The tone of the US Federal Reserve has flipped from hovering on the hawkish side earlier this summer to delving firmly into dovish territory today. With jobs…
The Investment Perspective, with Ninety One#50 The big 5-0: the best of the past year’s Investment Perspective
Fifty episodes, countless insights. To mark this milestone, The Investment Perspective revisits some of the most compelling moments from the past year. From…
The Investment Perspective, with Ninety One#49 From safe haven to supply crunch: what’s driving gold and copper
Gold has surged past $3 700 an ounce and copper is climbing on tightening supply. From record central bank buying and ETF flows to mining disruptions and the…
The Investment Perspective, with Ninety One#48 Fed cuts as expected, but strains are showing
The Fed’s 0.25% cut landed as expected, but markets are left weighing a more complicated picture: cooling jobs, stubborn inflation, and a divided FOMC. Philip…
The Investment Perspective, with Ninety One#47 Cash Talk: Money market funds – now safer by design
Money market funds remain a cornerstone of the global financial system, prized for their liquidity and stability. Yet history has shown they are not immune to…
The Investment Perspective, with Ninety One#46 Why SA bonds are holding firm
Developed market bonds have had a turbulent year, buffeted by deficits, politics and policy uncertainty. Enter South African bonds. In contrast, they’ve been a…
The Investment Perspective, with Ninety One#45 The ‘safe’ portfolio just got risky
South Africa’s high real yields have allowed conservative investors to lean heavily on income strategies for returns. However, that tailwind is fading. As…
The Investment Perspective, with Ninety One#44 Bonds – anything but boring
Once seen as safe and steady, bonds are now at the heart of market turbulence. From political pressure on the Fed to diverging central bank moves and volatile…
The Investment Perspective, with Ninety One#43 The price is (finally) right?
Markets are a game of probabilities, and John Biccard thinks investors are mispricing them. In this episode, he unpacks why South African banks may offer…
The Investment Perspective, with Ninety One#42 Stagflation looms as next test for markets
This year has not been short on worries for market participants. Now, another concern is creeping onto the list: stagflation. Early signals of a slowing US…
The Investment Perspective, with Ninety One#41 Infrastructure investment – aligning returns with impact
Infrastructure credit is emerging as a powerful way for institutional investors to combine resilient returns with real-world impact. Thanzi Ramukosi highlights…
The Investment Perspective, with Ninety One#40 Bond market round-up – from bright spots to red flags
Malcolm Charles unpacks the contrasting outlooks for global bond markets, starting with a ‘sunnier’ South Africa buoyed by improving fundamentals and resilient…
The Investment Perspective, with Ninety One#39 Decoding supply and demand dynamics in commodity surge
A global commodity index has hovered near multi-year highs for months, but beneath the surface, individual commodities tell very different stories. George…
The Investment Perspective, with Ninety One#38 Cash Talk: Cut and curveball.
The South African Reserve Bank delivered a widely expected 25 basis-point rate cut, but surprised the market with its ambition to target a 3% inflation rate…
The Investment Perspective, with Ninety One#37 A narrow climb to an all-time high – can SA Inc. join the JSE rally?
The JSE All Share Index has surged past the 100 000 mark, doubling in just 5 years. Hannes van den Berg explores the significance of this milestone, while…
The Investment Perspective, with Ninety One#36 A turning point for the dollar?
As the world’s reserve currency, the US dollar plays a pivotal role in global markets. But has it reached a critical inflection point? Sahil Mahtani, Director…
The Investment Perspective, with Ninety One#35 Cash Talk: Mid-year monetary pulse
After a turbulent start to 2025 driven by tariff tensions, markets have found firmer footing. Sisamkele Kobus unpacks South Africa’s economic trajectory, the…
The Investment Perspective, with Ninety One#34 Oil, politics and uncertainty
Geopolitical tensions have once again exposed the oil market’s vulnerability to global events, fueling volatility and uncertainty for producers, consumers, and…
The Investment Perspective, with Ninety One#33 Fixed income – why the old rules no longer apply
Fixed income has long held ‘safe-haven’ status, but that reputation is cracking. In bond markets today, old assumptions are being upended. Peter Kent unpacks…
The Investment Perspective, with Ninety One#32 Cash Talk: Targeting 3% – an opportunity to catalyse economic growth
With CPI consistently below the target range, the SARB is proposing a lower, more ambitious 3% anchor. Vivienne Taberer examines what a 3% target would mean…
The Investment Perspective, with Ninety One#31 Budget 3.0, Trump and bonds – what lies ahead for fixed income investors
After a turbulent start to the year, 2025 is evolving into a year of opportunity. Malcolm Charles unpacks the key drivers of the bond market and dives into two…
The Investment Perspective, with Ninety One#30 Third time’s the charm
Fresh from a meeting with National Treasury, Adam Furlan shares a cautiously optimistic view on Budget 3.0. With signs of fiscal discipline and borrowing…
The Investment Perspective, with Ninety One#29 US approaches crunch point as debt soars
Moody’s, after some deliberation, joined its peers and knocked the US off its AAA perch. Markets seemingly shrugged it off, but it’s not that simple. John…
The Investment Perspective, with Ninety One#28 A new investment reality takes shape
Ninety One’s 2025 Capital Market Assumptions was recently published based on data until the end of March, before the Trump tariff shock that so unnerved market…
The Investment Perspective, with Ninety One#27 Cash Talk: Why the SARB is holding back
Inflation is under control in South Africa and the price of money surely set to fall. Despite an uncertain international backdrop, the SARB is expected to cut…
The Investment Perspective, with Ninety One#26 Tariffs, OPEC and shale: Where oil and gas markets are headed in 2025
Paul Gooden breaks down the complex forces moving oil and gas prices in 2025 — from OPEC’s fragile balancing act to the fading punch of US shale. But the real…
The Investment Perspective, with Ninety One#25 Keeping your footing when markets feel like shifting sand
Hannes van den Berg, unpacks how the team is navigating 2025’s waves of volatility. From sentiment swings and shifting earnings trends to gold’s safe-haven…
The Investment Perspective, with Ninety One#24 Fact over fury: dissecting Trump’s first 100 days
A 100 days have flown by. Under the stewardship of Donald Trump, the US and the world have had to sit up and take notice, sometimes for all the wrong reasons…
The Investment Perspective, with Ninety One#23 Cash Talk: Making your cash work smarter – strategies in a changing rate environment
In this episode, we explore how corporate cash can work harder—without compromising on liquidity or safety. With the repo rate steady and a VAT hike ahead…
The Investment Perspective, with Ninety One#22 Europe warrants a revisit as market forces change
The Trump administration’s varied and often controversial executive orders and policy changes have kept market participants on edge. US assets, having been a…
The Investment Perspective, with Ninety One#21 Compromises and trade-offs as Godongwana delivers Budget 2.0
The revised Budget tackles the near-impossible challenge of driving growth while managing fiscal pressures and funding critical sectors. Adam Furlan explores…
The Investment Perspective, with Ninety One#20 Cash Talk: Jibar makes way for Zaronia – What it means for your cash investments
For nearly 25 years, JIBAR (Johannesburg Interbank Average Rate) has been South Africa’s preferred benchmark rate for overnight and term lending. This is set…
The Investment Perspective, with Ninety One#19 Trump, trade & tactics: what It means for SA investors
The furious pace of political pronouncements in the first quarter of 2025 has economies and markets on high alert. SA has not been spared, as aid from the US…
The Investment Perspective, with Ninety One#18 Gold and beyond – unpacking the commodities surge
It’s not just gold that’s been on an upward trajectory. Commodity prices across the board have been rising from the low Covid base of 2020. Recent short-term…
The Investment Perspective, with Ninety One#17 Inflation: a pernicious longer-term problem?
Inflation has been on a wild ride since the outbreak of war in Europe, which sent it soaring. Then central banks came to the rescue by raising rates. But has…
The Investment Perspective, with Ninety One#16 Why this environment calls for an active approach to managing fixed income assets
SA faces the looming Budget, while in the US, Donald Trump is wielding his power as only he can. Against a backdrop of economic growth uncertainty, currency…
The Investment Perspective, with Ninety One#15 Navigating politics and markets
Gail Daniel, the portfolio manager of Ninety One Manged Fund, analyses Trump’s policy impact on South Africa, covering the Rand, SA bonds, and the Fund’s…
The Investment Perspective, with Ninety One#14 Central Banks make their monetary mark
Central banks have had a busy start to the year. The Bank of Japan began with an interest rate rise, followed by decisions from the South African Reserve Bank…
The Investment Perspective, with Ninety One#13 SA - Optimism stages a (cautious) comeback
The word ‘optimism’ has been conspicuous by its absence for many years when investors and analysts have spoken of the SA economy. Last year, however, it made a…
The Investment Perspective, with Ninety One#12 Why bond yields are soaring and what it means for income investors
According to a major American bank the US bond market is in the sixth year of the third great bear market since 1790. But in September of 2024, the tide…
The Investment Perspective, with Ninety One#11 Why 2025 requires a new investment playbook
With the US performing strongly and China showing signs of turning a corner, a global economic recovery is building. Opportunities abound, but Philip Saunders…
The Investment Perspective, with Ninety One#10 Defying the sceptics
Any review of asset-class performance in 2024 would doubtless headline ‘Big Tech’, Bitcoin and geopolitics. But delving below the headline grabbers are unloved…
The Investment Perspective, with Ninety One#9 What do earnings revisions tell us about the outlook for SA Inc?
How do you employ earnings revisions as an investment style, and what role does valuation play when evaluating stocks? Samantha Hartard sets out the SA 4Factor…
The Investment Perspective, with Ninety One#8 Two-pot, rate cuts and Black Friday – is the retail sector poised for take-off?
The day after Thanksgiving has become more than a time to sleep off excesses and patch up family squabbles. ‘Black Friday’ has become a day when discounts are…
The Investment Perspective, with Ninety One#7 Advisor pulse – clarifying two-pot uncertainty
The two-pot retirement regime has revolutionised South Africa’s retirement system. As can be expected with any major change, the industry has raised questions…
The Investment Perspective, with Ninety One#6 What reflationary policies mean for markets
Bond markets were feeling rather buoyed by falling inflation and an interest-rate cutting cycle that promised many more moves to the downside. Then along came…
The Investment Perspective, with Ninety One#5 Trump 2.0 – A remarkable resurrection
In a feat of remarkable political resurrection, Donald Trump is to be the 47th President of the United States. As results trickled in, US equity futures…
The Investment Perspective, with Ninety One#4 MTBPS – A boon for infrastructure?
The Medium Term Budget Policy Statement it is an important precursor to the real deal in February 2025, and often serves as a useful barometer of SA’s fiscal…
The Investment Perspective, with Ninety One#3 All that glitters?
Gold has astonished in 2024, making record highs in dollar terms with repetitive regularity. And yet the high-profile gold gathering in Denver Colorado…
The Investment Perspective, with Ninety One#2 Advisor pulse | Addressing clients burning questions
In this first instalment, Marc Lindley delves into a clutch of the questions keeping investors up at night – from solutions for ‘lazy cash’ to walking the…
The Investment Perspective, with Ninety One#1 SA equities – time to shine?
South African domestic equities have dusted themselves down and shaken off their inferiority complex. Against the backdrop of the GNU, relative electricity…