BizNews community member Ingrid Luyt wrote to BizNews founder Alec Hogg this week seeking any information regarding the dismal performance of Old Mutual. Her question was posed to Steven Nathan, founder of 10X investments, when he co-hosted the BizNews Power Hour. Nathan shared insights into what Old Mutual has been going through, stating that Old Mutual has lost value in SA and made disastrous deals offshore. Below are Ingrid’s email and quotes from Nathan’s response thereto. – Nadya Swart
Hi Alec,
I’m wondering whether there has perhaps been any discussion regarding the dismal performance of Old Mutual or it’s share-price? Having finally fished my RA from their clutches at maturation in 2019 (at roughly half the value projected upon purchase of the policy) I am equally dismayed to find the shares I’d been tracking since they were issued in 1999 @R11 per share… which I hung onto through thick and thin and which appeared to top in November 2015 at R45.33 and have sinc
Equites Property Fund: Price vs Value
After a tumultuous few years for South African listed property, the sector has made a strong start to the new year with JSE REITs leading the world through 2021. Equites Property Fund, led by CEO Andrea Taverna-Turisan, has bucked that trend of recent years. This niche property fund, focused on logistics and warehousing properties, has managed to benefit from concentrated bets on a property segment that still has further growth potential. The company produced a solid set of financials, seeing double-digit increases in revenue and distributable earnings, although other important performance metrics such as headline earnings were down by similar percentage points. Looking ahead, an almost non-existent vacancy rate and a weighted average lease expiry profile of over 15 years underpins the sustainability of these earnings.
April 30, 2021
[Photos by: Vinok/Provided, M.Byrd/Niklas Zeiner, Blossom Reynolds/lilwzr, Mustafa/Samuel Engelking, Laraw/Adrian Villagomez and Becca Hamel]
Everyone loves to jam out to their favorite artists and classic hits, but let’s not forget about all the fresh talent constantly popping up around the world. From pop and indie to punk and post-hardcore, there’s always a new name in music waiting to be heard.
We know there are a lot of tracks to sift through, so we’re here to help. Each month, we gather the best new releases from the past month by artists you may not know and put them all in one place. Check out what music you might have missed in April below to stay up to date on new music. Who knows? You just may find your next favorite band.
Chief Executive of real estate giant Pam Golding Properties, Andrew Golding, told BizNews Power Hour host Alec Hogg about the increase in purchases of second properties by consumers. ‘Post lockdown, the market has taken all of us by surprise. We were expecting there to be some pent up demand and then the market would basically represent what was happening pre-Covid – but that certainly hasn’t been the case’, says Golding. – Jarryd Neves
Andrew Golding on the increase of second homes being purchased in South Africa:
Certainly, post-lockdown, the market has has taken all of us by surprise. I think we were expecting some pent up demand (post-lockdown) and then the market would basically represent what was happening, pre-Covid. But that certainly hasn’t been the case. I think [it’s] fuelled by interest rates primarily, that has underpinned the middle and lower end of the market. Then later on in the year – towards the end – we started to see the top end of the market