Articles tagged as "Allan Gray Equity Fund"
How we balance the upside-downside risk in South African equities
We often write about large individual equity positions in our portfolios, but this quarter, Duncan Artus focuses on the opportunities and risks in “SA Inc” –...
2024: What will the election year hold?
From macroeconomic decisions to political outcomes, markets – and sentiment – can be temporarily influenced by various external factors. If 2023 will be...
2023 Q3 Comments from our chair
Daimler-Benz introduced the Mercedes-Benz S-Class to South Africa in 1973 – the same year that an ambitious 35-year-old with a Harvard MBA and eight years of...
Local investment update: Balancing caution and optimism
In recent years, South Africa’s numerous, well-known economic challenges have fuelled declining investor sentiment and led many to doubt the local market’s...
Risk: An essential ingredient for real long-term returns
When it comes to investing, no investor wants to lose money. In fact, as humans, we have a built-in aversion to loss. Unfortunately, by overly focusing on...
The equity core that powers our business
As we celebrate our 50th anniversary this year, we naturally reflect on the history of the firm and the important milestones we reached along the way. Nick...
Peering through the smoke
A lot has changed in the tobacco industry in the last decade or so. Despite the changes in what used to be a stable industry, the attractive aspects of tobac...
The power of 1%
As we celebrate our 50 th anniversary, we are mindful of the collective efforts of teams, past and present, in building our long-term track record....
Was 2022 a secular turning point and if so, what does it mean for the years ahead?
In his first investment update of 2023, Duncan Artus discusses the current investment context and how it differs from the past, shares a review of 2022 and...
Investing – risky business?
Understanding your investments, and the risks you may face when investing, can go a long way towards helping you successfully navigate trying times. Lydia...
In pursuit of value
The current disparity in markets, both locally and offshore, is creating an opportunity for bottom-up investors like ourselves to generate meaningful returns...
Woolworths: Not so down under
Most of you will be more than familiar with the fashion, beauty, home and food offering of retailer Woolworths, affectionately referred to as Woolies, and on...
Equity Fund: Fishing in muddy waters
In his 1986 letter to shareholders, Warren Buffett famously spoke of being fearful when others are greedy, and greedy when others are fearful.
Prospects look promising
Disappointing short-term performance has had a dampening effect on longer-term numbers. Looking at similar periods in our history provides useful context and...
Equity Fund update: In pursuit of potential
The most important determinant of investment success is the price you pay for an asset, and valuations for many quality companies are the cheapest they have...
Equity Fund update: Investing amid extreme price moves
The second quarter of 2020 saw further extreme moves in equities. An intraday price move of 20% is a rare event, especially for a large company. In the month...
Positioning our portfolios for growth beyond COVID-19
The speed at which the financial market swings from despair to elation is astounding. The past few months have seen no shortage of mood swings as investors...
Making sense of current market conditions
The current market volatility is understandably causing investors much stress. Andrew Lapping examines the impact of coronavirus and the drop of the oil pric...
Mindful of risk
Uncertain times may cause investors to shy away from risk. While it is important to be mindful of risk and understand the risks you are taking on when...
Reflecting on our top equity holdings
The performance of the Allan Gray Equity, Balanced and Stable funds has been disappointing over the past couple of years. Low single-digit returns from...
Equity Fund update: Taking a look at British American Tobacco
2018 was a disappointing year for South African equity investors, with the FTSE/ JSE All Share Index returning -9%. The good news is that based on our resear...
The upside of down markets
2018 was not a good year for investors with price declines in many asset classes. The FTSE/JSE All Share Index (ALSI) fell 8.5% in 2018, or 21% when measured...
Allan Gray Equity Fund's 20th Anniversary
If you had invested R1 000 in the Allan Gray Equity Fund when it was launched on 1 October 1998, it would be worth R56 572 today (at 30 September 2018). A...
Are you overly exposed to China?
As South African investors we are very tuned into the local political and economic risks that we face. But what about the less obvious risks?
Equity Fund update: Focus turns to locally listed international businesses
The market had a volatile first quarter with positive sentiment towards South African equities continuing against a backdrop of volatile international market...
Finding opportunity in the volatility
The first quarter proved to be a difficult one with the Allan Gray Equity, Balanced and Stable Funds all delivering negative returns. The most significant...
Investment lessons from 2017: be patient and trust your analysis
Separating oneself from the noise is tricky. There is an enormous amount of information out there; you can listen to experts on television, read newspapers,...
Equity Fund update: Reversal of fortunes for domestically orientated sectors
For most of 2017, domestically orientated sectors fared poorly against the FTSE/ JSE All Share Index (ALSI). However, the last few weeks of the year saw a...
How has your investment been impacted by the fall in the price of Steinhoff?
Global retailer Steinhoff International Holdings NV’s share price had fallen 86.9% by close of trade on Friday 8 December, following CEO Markus Jooste’s...
SNAPSHOT: Allan Gray Equity Fund
The Allan Gray Equity Fund is for investors who are looking to create long-term wealth by investing in shares: historically equities have been the best way t...
How our unit trusts are positioned for the current environment
The net equity exposure of our flagship unit trusts matches our risk appetite in those unit trusts and the asset allocation is managed accordingly...
Keep calm and carry on investing
The past 12 months seem to have passed particularly swiftly, maybe because fundamentally very little changed. Interestingly, the light in which investors vie...
Equity Fund update: Investing in the shade of unnerving political headlines
The year 2016 will be remembered by investors as one in which politics dominated the headlines. But what do we make of it all as investors trying to focus on...
An investment case for Life Healthcare
Recent news about private hospital operator Life Healthcare’s international investments has created negative sentiment about the company’s ability to allocat...
How to be a better long-term investor
Is your behaviour standing in the way of your investment success? Shaheed Mohamed helps us become more aware of common biases so that we can adjust our...
How to think about the rand when making investment decisions
Over the last few years we have been concerned about the strength of the rand and our portfolios have been positioned for currency weakness. One of our...
Annual report from the outgoing Chief Investment Officer
Adapted from the Chief Investment Officer’s comments, which will appear in the Allan Gray Unit Trust Annual Report, 2015. These are Ian Liddle’s final Annual...
Interim investor update
Some clients have asked for an update on how well their investments are doing in the current very volatile market. It’s risky to respond until things have...
The upside to downside protection
Warren Buffet famously said that there are two rules when investing, 'Rule No.1: Never lose money, Rule No.2: Never forget rule No.1.' Shaun Duddy discusses...
Proposed changes to the Allan Gray Equity Fund
Since its inception in 1998, the Allan Gray Equity Fund (the Fund) has returned 26% per year (after fees), while the benchmark FTSE/JSE All Share Index (ALSI...
The impact of events relating to African Bank on Allan Gray Unit Trusts
African Bank’s failure has had a small, negative impact on our Allan Gray Equity, Balanced and Stable Funds. In this GrayIssue we attempt to address a broad...
Thinking long term
We encourage people to invest for the long term. But how long is long term and what does this mean for investment decision-making? Wanita Isaacs offers some...
Diamonds in the rough
Small- and mid-cap companies make up 16% of the FTSE/JSE All Share Index, but 25-30% of our clients' South African equity holdings. Although many of these...
Time to review your equity exposure?
Adapted from the Chief Investment Officer’s comments, which will appear in the Allan Gray Unit Trust Annual Report, 2013. We aim to grow our clients’ wealth...
The risk that matters
Discussions about investing are incomplete without including the topic of risk. Delphine Govender elaborates, focusing on the most important risk in investin...
