Perspectives

Gold and Gold equities have enjoyed a buoyant 2025. Such rallies in the past were met with meaningful drawdowns. Will this time be different?

Perpetua Investment Managers explore the rapid growth of online gambling in South Africa, its economic impact, ESG challenges, and the urgent need for responsible industry practices.

The biggest winner in South Africa’s 2024 national elections was the demonstration of how the country’s maturing democracy has progressed. Despite the anxiety and apprehension about the consequences of a potential power shift in political support away from the ruling party, South Africa’s elections were declared free, fair and peaceful. This is an outcome which should be treasured considering the country’s fractured pre-democracy history.

Biological diversity, also known as biodiversity, is the variety of life present on Earth or in a specific region and is the backbone of our ecosystems, indeed our very existence on this planet. Biodiversity plays a pivotal role as a carbon sink, purifying the air we breathe and helping to combat global warming. It is the unsung champion behind one-third of the world’s crop production, thanks to pollinators such as birds, bees, and insects.

Investing in platinum shares over the last decade has been a roller coaster ride. Investors have experienced the euphoria of the highs, the fear and uncertainty of the declines, and twists and turns of the platinum group metals (PGM) cycle along the way.

Perpetua Investment Managers has expanded its investment product offering to include standalone fixed income funds effective March 2024, with the launch of the Perpetua SCI Flexible Fixed Interest Fund.

The S&P 500 index has risen 16% this year driven by 7 mega-caps stocks which are up 60%. The index is up 21% from its October lows and now trades on a P/E of 22x, which compares with a P/E ratio of 31x for the top 7mega-caps in the index.

The MTBPS (or mini-budget) essentially kicked the can down the road, giving way for tougher decisions to be made at next year’s February 2024 annual budget.

On the 19th October 2023, Perpetua Investment Managers Deputy Chief Investment Officer, Lonwabo Maqubela, participated and presented at the Investor Relations Society Of South Africa’s Annual Conference, hosted at the Johannesburg Stock Exchange “JSE”. One of the topics that was of interest was the decline of sell side research, impacting particularly small and mid-caps. This is best evidenced by the chart below.

The irony is that the women who do take up the “power seats” are arguably more determined, more committed, more alert to threats and vulnerabilities and more deeply thoughtful about their right and responsibility to succeed.

It’s hard to believe that we’re already well into the second half of what has been an extremely eventful year. Perhaps it’s a good time to take stock and reflect on what’s taken place in 2020 thus far.

Despite the effects of one of the most challenging economic and financial years in history, Q4 2020 proved that there is indeed light at end of the tunnel.