The Investment Perspective, with Ninety One

ตอน

• #92 Beyond the index giants: the case for active EM 03.07.2026 12นาที

  After a blistering 18 months for emerging market equities at an index level, the concentration risk has now become a concern for many. Portfolio Manager Varun Laijawalla argues that beneath the headlines is a story of a wider opportunity set from which an active portfolio could benefit.  Hosted on Acast. See acast.com/privacy for more information.
• #91 The dollar's reversal: from debasement fears to strength 30.06.2026 8นาที

  After widespread expectations in 2025 of a structural dollar bear market, conditions appear to have shifted in 2026. The greenback's status as the world's reserve currency has strengthened over the past year, with the Dollar Index recording a modest, though not significant, gain. But is it simply a case of safe-haven buying at the outset of the conflict with Iran, combined with the prospect of higher inflation supporting tighter US monetary policy? Portfolio Manager Jason Borbora-Sheen examines the range of factors currently influencing the US dollar, including the stance and potential actions of a US Federal Reserve under the stewardship of a new Chair. Hosted on Acast. See acast.com/privacy for more information.
• #90 Oil is falling, but South Africa's inflation fight is far from over 23.06.2026 6นาที

  Oil prices have pulled back sharply from their peak, but Vivienne Taberer warns that the relief may come too late to spare South African consumers further pain. With the SARB watching closely for signs that inflation expectations are becoming unanchored, more rate hikes may well be on the table before any cuts return. Hosted on Acast. See acast.com/privacy for more information.
• #89 Peace plan, messy reality: commodities after Iran deal 17.06.2026 14นาที

  The interim Iran peace plan has sent oil sharply lower, but the more interesting questions lie elsewhere. From gold's structural demand story to copper's confounding surplus, coal supply disruptions, and the fertilizer shock still working through the system, George Cheveley walks through why he believes the market is moving too fast to declare the crisis resolved. Hosted on Acast. See acast.com/privacy for more information.
• #88 When the rule book no longer applies 11.06.2026 11นาที

  AI is reshaping the US economy in ways that confound historical precedent. Philip Saunders makes sense of a market landscape where growth is real but uneven, inflation risks are manageable but not absent, and the old playbook may no longer be enough. Hosted on Acast. See acast.com/privacy for more information.
• #87 The $1.75 trillion question: an IPO that could change everything 05.06.2026 13นาที

  The SpaceX IPO is just the opening act. With Anthropic and OpenAI close behind, Anton du Plooy considers what a wave of trillion-dollar listings means for markets, and for the investors who have to decide what to do about them. Hosted on Acast. See acast.com/privacy for more information.
• #86 Holding its nerve: how SA is weathering the oil shock 04.06.2026 12นาที

  The Strait of Hormuz closure has rattled global energy markets, but South Africa is weathering the shock better than many expected. Ruen Naidu explains what the Moody's outlook upgrade signals, why the rand has held up, and how long South Africa can absorb persistently elevated oil prices. Hosted on Acast. See acast.com/privacy for more information.
• #85 A 4% wake-up call: reading the SARB's next move 21.05.2026 6นาที

  A supply shock has shifted the inflation picture, and the SARB's next move matters. Adam Furlan discusses the case for early action, the risk of second-round effects, and why Ninety One remains cautious on duration at the front end of the curve. Hosted on Acast. See acast.com/privacy for more information.
• #84 Beyond the index: why concentration risk may be active management's biggest opportunity 19.05.2026 11นาที

  Markets are more concentrated than ever, and that changes the equation for investors. Siobhan Simpson uncovers the risks beneath the surface of major indices, from the Magnificent Seven to precious metals dominating the JSE, and explains why these conditions may be creating some of the most compelling opportunities for active management in years. Hosted on Acast. See acast.com/privacy for more information.
• #83 A very tight strait. Can oil get to $150? 18.05.2026 12นาที

  With the Strait of Hormuz blockaded and global oil inventories drawing down fast, the oil market is approaching a critical inflection point. Paul Gooden cuts through the geopolitical noise to explain the supply-and-demand dynamics at play, what the numbers actually mean for oil prices, and why equity investors are more cautious than you might expect. Hosted on Acast. See acast.com/privacy for more information.
• #82 Who really controls the Fed? 08.05.2026 9นาที

  The battle between the White House and the world's most powerful central bank isn't just political theatre. It has real consequences for markets, inflation, and the credibility of independent monetary policy. Ruen Naidu explains what Kevin Warsh's appointment as Fed chair really means, and why the outcome matters far beyond Washington. Hosted on Acast. See acast.com/privacy for more information.
• #81 The 5% problem: why bonds are back in the conversation 06.05.2026 9นาที

  The US 30-year bond yield has broken through 5%. That might sound like a technicality, until you understand what it means for every other asset class on the planet. John Stopford unpacks why yields are on the move, what a flattening curve signals for growth, whether equity valuations can hold and why he is selling into strength. Hosted on Acast. See acast.com/privacy for more information.
• #80 The art of sleeping when markets can't 05.05.2026 19นาที

  Oil at double its 2026 lows. Bond yields creeping up. Petrol prices hammering the South African consumer. And the S&P still making new highs. Sumesh Chetty unpacks the contradictions shaping global markets right now, from the ripple effects of the Strait of Hormuz closure to the AI arms race and explains how he navigates uncertainty without losing sleep. (Well, almost.) Hosted on Acast. See acast.com/privacy for more information.
• #79 When private credit flips the script 20.04.2026 18นาที

  For years, developed markets were seen as the safer home for private credit, while emerging markets carried the higher-risk label. But that gap may be narrowing, and in some cases even reversing. Alper Kilic explores why strains are surfacing in US private credit, how weaker underwriting standards have contributed to the shift, and why emerging market private credit may offer a more resilient opportunity set built on secured lending, stable underwriting standards and real-economy demand. Hosted on Acast. See acast.com/privacy for more information.
• #78 Cash Talk: FLAC decoded | What SA’s new bank debt means for fixed income investors 16.04.2026 10นาที

  South Africa’s fixed income market is entering a new phase with the introduction of FLAC instruments, a class of bank debt designed to strengthen the financial system and reduce the risk of taxpayer-funded bailouts. Lisa MacLeod and Stephen Naidoo unpack how these instruments work, why they are being introduced now, and what their arrival means for credit risk, pricing and portfolio construction in the years ahead.  Hosted on Acast. See acast.com/privacy for more information.
• #77 When the taps run dry: the real story behind South Africa’s water crisis 14.04.2026 13นาที

  South Africa’s water challenges are becoming harder to ignore, as supply disruptions spread beyond rural areas into major urban centres. Yet the issue is less about scarcity than system failure. Tshiphiri Muedi explores how infrastructure inefficiencies are driving the crisis, and how emerging reforms could begin to unlock a more investable path forward. Hosted on Acast. See acast.com/privacy for more information.
• #76 Bond market shock: panic or opportunity? 09.04.2026 8นาที

  South African bonds have suffered their second-worst monthly drawdown in two decades, rattled by global conflict and rising inflation fears. But beneath the volatility, the fundamentals may tell a different story. James Turp unpacks what’s driving the sell-off, what past episodes reveal about market recoveries, and whether this presents investors with an attractive entry point into fixed income. Hosted on Acast. See acast.com/privacy for more information.
• #75 Markets shaken, not broken: Middle East tensions 02.04.2026 8นาที

  The sudden escalation in the Middle East has jolted global markets, reversing expectations for lower inflation and rate cuts almost overnight. Malcolm Charles explains why this is more than a passing shock, how portfolios are being repositioned for a more uncertain world, and why caution rather than conviction is guiding investment decisions right now. Hosted on Acast. See acast.com/privacy for more information.
• #74 When gold falls and oil calls the shots 27.03.2026 8นาที

  In a market where gold no longer behaves like a safe haven and oil is rewriting the rules, investors are being forced to rethink old assumptions. George Chevely unpacks the dynamics across precious and industrial metals, and explains why energy, not gold, may now be the dominant force shaping returns. Hosted on Acast. See acast.com/privacy for more information.
• #73 Central banks on edge: when war rewrites the rate outlook 17.03.2026 13นาที

  Just as central banks looked set on a path to easier policy, geopolitics has thrown a wrench into the plan. With conflict in the Middle East driving energy prices higher and clouding the inflation outlook, Jason Borbora-Sheen explains why rate cuts are being repriced, why different central banks will respond differently, and why, despite all the noise, markets have remained surprisingly resilient. Hosted on Acast. See acast.com/privacy for more information.