The fund management industry is highly competitive. There are a small number of managers that dominate the
industry and a large number of smaller boutiques that are all competing for a seat at the table.

With the recent amendments to the normal tax exemption relating to South Africans working outside the country
as provided for in s 10(1)(o)(ii) which comes into effect from 1 March 2020

Low market returns in recent years and prospects of a potential slowdown or recession has left investors in a conundrum. Investors are rightly disappointed by the returns whilst also nervous about the uncertain future.

An important part of Seed’s multi-management process is performing monthly asset class valuations using our in-house quantitative models.

Benjamin Graham, the father of value investing and Warren Buffett’s mentor, is often quoted as saying, “In the short run, the market is a voting machine but in the long run, it is a weighing machine”.

Over the last few years, there has been so much written about so-called fake news. But for investors is there such a thing as
a fake investment belief?

On a recent trip to Zululand, I found this interesting flyer
on my car. “What does the good Doctor have to do with finance?” I
hear you ask.

Following up on Mike Browne’s article from last week, which highlighted the Seed processes, model and how we calculate
expected returns, I have decided that this week I will be sharing the exact numbers of the current market

Last week, Ian wrote how Past Performance Is Not Indicative of Future Results, and this week we seek to take this line of thought one step further.

From an investment perspective, 2018 was not nearly as bad as the sharp declines some ten years back. What investors do find extremely disappointing is the long, slow grind of going nowhere slowly.