webinar
Has global and local inflation peaked, and what does this mean for investors?
Find out this July during our upcoming In the Room with M&G. Host Stephen Backhouse will sit down with Co-Head of Multi-Asset and Portfolio Manager, Sandile Malinga, to discuss the opportunities in the markets for investors to earn reasonable returns going forward.
M&G Investments is one of South Africa’s top 10 asset managers, with around R320 billion in assets under management (as of February 2023). For over 25 years, they have built up an admirable track record for delivering consistently strong performance for their clients over time.
From the unit trust industry to property yields, equity markets, and inflation-linked bonds, register now for a front-row seat in understanding the implications of global and local inflation for investors.
Date: Friday, 28 July 2023
Time: 9:30AM – 10:30AM
CPD Point: TBC*
About the webinar
The unit trust industry has seen inflows in 2023, with the majority of flows going into interest-bearing categories. With interest rates at relatively high levels, many clients are looking at the interest-bearing category at the expense of risk assets. Investment markets have recovered substantially after the collapse in March 2020. Many investors have missed the recovery in markets due to them switching to cash – will they make the same mistake? There are opportunities in the market (across a number of asset classes) for investors to earn reasonable returns going forward. SA nominal bonds trade at an attractive valuation compared to the US and other emerging markets. There is a strong relationship between starting bond yields and subsequent five-year returns.
Inflation-linked bonds offer an attractive investment opportunity when compared to real cash rates. SA Property yields looked optically cheap. SA property distributions have been substantially cut. There is uncertainty around the distribution growth in SA property going forward. SA 20-year bonds trade at a higher starting yield when compared to SA property starting yields. Equity markets have performed well and some even trade at all-time highs, but there are differences in their valuations. SA equity market is cheap when compared to the US market. SA equities are very cheap on various valuation metrics. Prospective real returns across asset classes are good!
About M&G Investments
M&G Investments is a global asset manager with operations in 28 countries, over 5 million clients and more than R7.0 trillion in assets under management and administration. We are also one of South Africa’s top 10 asset managers, with around R320 billion in assets under management (as of February 2023). For over 25 years we have built up an admirable track record for delivering consistently strong performance for our clients over time. We are proud to have achieved a certified Level 1 B-BBEE rating. Finally, not only are we long-standing active and engaged shareholders, but we integrate environmental, social and governance (ESG) factors in our valuations-based investment process. We offer our clients a range of world-class investment solutions to meet diverse risk and return requirements, from AI-based global equity and property funds to top-performing local equity, income and multi-asset funds.
The speakers
Stephen Backhouse
Head of Strategic Accounts
INN8
Stephen is a business development specialist with over 11 years’ experience in the asset management and platform industry. Stephen’s focus is all aspects involved in forging long-lasting relationships with strategic partners, more specifically the Discretionary Fund Managers and large Key Accounts, who are influential partners in our industry and are important stakeholders for the future proposition of INN8.
He was previously the head of Marketing and Business Development at STANLIB, where he was responsible for the Standard Bank relationship. Stephen obtained his Bachelor of Commerce from Rhodes University, and his Honours in Financial Analysis and Portfolio Management from the University of Cape Town.
Sandile Malinga
Co-Head of Multi-Asset and Portfolio Manager
M&G Investments
Sandile joined M&G Investments in 2013 as a member of the fixed-income team, and joined the multi-asset team in 2018. In 2023, he was promoted to Co-Head of Multi-Asset, assuming a co-leadership role with Michael Moyle. He is currently the joint-Portfolio Manager of M&G Balanced and Inflation Plus Funds, and he is involved in managing our range of global funds. His role also involves providing analytical and economic support to our multi-asset and fixed-interest investment process. He is a member of the M&G Investments Asset Allocation Committee.
With 16 years’ industry experience, Sandile previously worked for Investec Asset Management as a fixed interest dealer and analyst. He also served as Portfolio Manager on large institutional fixed interest client mandates with liability immunization objectives.
Sandile holds a BSc in Mathematical Statistics and Actuarial Science from the University of the Witwatersrand and is a Fellow of the Faculty and Institute of Actuaries.
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