The glass is half full

  Jason Spilkin   February 2024


The glass is half full

CredoNews #

You might have heard the theory about a butterfly flapping its wings in the calm today, which can stoke a storm elsewhere tomorrow. A real-world analogy is the so-called “bullwhip effect”, which describes a supply chain phenomenon whereby an initial demand shock gets amplified as resultant ripples reverberate, due to the inventory response from...

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January in review

  Billy Pain   February 2024


January in review

Following a strong end to 2023 global markets delivered mixed performances for January. Over the month, the DJIA, S&P 500, NASDAQ and Euro STOXX 50 all experienced positive returns of 1.3%, 1.7%, 1.0% and 3.0%, respectively and measured in their local currencies. The S&P 500 reached all-time highs as positive economic data and receding inflation supported investor optimism. In contrast, the FTSE 100 posted a negative return of -1.3% due to weaker economic data. In fixed income markets, yields on US, UK and German 10-year bonds rose by 3.3, 25.7, and 14.2 basis points, respectively, and mainly driven by central banks striking a less dovish tone in respect of rate cuts expected in 2024. Brent Crude oil was up 5.4% over the month as the ongoing conflict in the Middle East caused disruptions in the Suez Canal. The pound fell by 0.1% against the US dollar and rose by 1.6% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30
View from the Thames

  Deon Gouws   February 2024   Financial Mail


View from the Thames

A few weeks ago, Microsoft published a results update which was well ahead of market expectations.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) comments on the company’s prospects, specifically in light of artificial intelligence initiatives.

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@DeonGouws_Credo

December in review

  Billy Pain   January 2024


December in review

Global equity markets ended the year strongly, driven by investor optimism about easing inflation and expectations for more stable rates including potential cuts in 2024. Over the month, the DJIA, S&P 500, NASDAQ, Euro STOXX 50, and FTSE 100 all experienced positive returns of 4.9%, 4.5%, 5.6%, 3.2% and 3.9%, respectively and measured in their local currencies. In fixed income markets, yields on US, UK and German 10-year bonds fell by 45, 64, and 42 basis points, respectively mainly driven by central banks softening their language and acknowledging a remarkable fall in inflation. Brent Crude oil declined by a further 4.0% from the previous month despite the ongoing conflict in the Middle East and OPEC+ members implementing further production cuts. The pound rose by 0.9% against the US dollar and fell by 0.5% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30
Ben Newton looks back on 2023

  Ben Newton   January 2024   Citywire Wealth Manager


Ben Newton looks back on 2023

CredoNews #

AA Citywire rated Ben Newton, Co-Manager of the Credo Dynamic Fund, recently discussed his best investment calls of 2023. He highlighted the shift to longer dated bonds that have subsequently shown strong capital gains as interest rates are expected to moderate in 2024. He also mentioned the rare opportunity in equity investment trusts, which were trading at their widest discounts since 2008 and have since shown signs of positive momentum, providing additional returns for investors.

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View from the Thames

  Deon Gouws   January 2024   Financial Mail


View from the Thames

2023 proved to be another strong year for global equity markets.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) explains how just seven stocks (all of which are likely to benefit from developments in artificial intelligence) were responsible for the bulk of this performance.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

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