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Wealth and Asset Management
Kagiso Asset Management has surprised the market by taking up big stakes in Standard Bank and FirstRand in a climate of low economic growth.
Banks are not always popular investment holdings particularly in a declining consumer cycle. Kagiso’s next biggest holdings in its Equity Alpha Fund are Sasol and Lonmin with 7.5% and 6.6%. “The macro-headwinds that the economy is currently facing would ordinarily present an argument against holding banks’,” said Gavin Wood, CIO…
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