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Perpetua Investment Managers

2026 Investment Outlook

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As was the case for much of 2025, geopolitical news continues to grab the headlines as we moved into 2026 and it seems that one’s investment views have to increasingly factor in these risks and their likely outcomes, as well as analysing the fundamentals affecting global and regional economies.

 

In this edition of Perpetua’s 2026 Investment Outlook we:

 

  • Reflect on the factors which drove the South African and global markets in each of the major asset classes during the past year

  • Evaluate the opportunities and risks in each asset classes

  • Provide our perspective on how we’re positioning client portfolios to navigate key themes such as increasing geographic and economic disruption, the increasing role of AI in business and economic models, regional and global growth prospects, and the impact which U.S monetary and fiscal policy may have on markets.

 

The latter and global market disruption has also affected the behaviour of commodity prices, and we take a look at the prospects of various commodities.

 

Closer to home we also consider the implications of significant events which could affect South Africa’s political leadership over the coming year including the Local Government Elections and its potential impact on the Government of National Unity.

 

Enjoy reading our observations, thoughts and views, and we welcome an opportunity to engage with you regarding any of the contents.

Download the full commentary here

Darmhik Naicker

Darmhik joined Perpetua as a Risk & Quantitative Analyst Intern in 2026.

He holds a BCom Honours degree in Statistics and Data Science from the University of Cape Town, with a strong foundation in finance, quantitative analysis, and risk management.

Tasha Xinindlu

Tasha joined Perpetua as a Marketing Intern in 2026. 

She has a Business Administration Degree major in Marketing and Entrepreneurship from Tsiba Business School. 

 

Najmeerah Simons 

Najmeerah Simons is the Finance, Risk and Compliance Manager at Perpetua, where she oversees financial management, regulatory compliance, and risk governance across the business.

 

She brings experience from the Auditor General of South Africa, where she has served in various roles over a six-year period. She has also spent two years prior to her time in audit and assurance at an asset management firm where she worked in local, property and global finance divisions. Najmeerah holds a Bachelor of Business Science specialising in Finance and Accounting from the University of Cape Town and is qualified Chartered Accountant (South Africa).

Tasneem Abrahams

Tasneem joined Perpetua as a Finance and Business Trainee in 2025. 

She has a Business Administration Degree major in Finance and Investments from Tsiba Business School. 

Samantha Edwards

Samantha joined Perpetua as a Client Service Intern in 2025. 

She has a Business Administration Degree major in Finance and Investments from Tsiba Business School. 

Sisipho Jokazi

Sisipho joined Perpetua as a Business Analyst in November 2025. Before joining Perpetua, she spent 6 years at M&G Investments Southern Africa in the Institutional Clients team as an Institutional Client Associate providing client service support on a range of clients. At Perpetua, she is responsible for providing support in the servicing of clients; business development support (assisting in growing client base); components of client account management such as handling investment-related queries, performance analysis, and risk reporting. 

 

She holds a BBA degree and PGDip from TSiBA Business School and Regent Business School respectively. 

Jason Clark

Jason joined Perpetua as an Investment Performance & Risk Analyst. He is responsible for evaluating, measuring, and reporting on the performance and risk of the investment portfolios.

 

He brings experience from Luxcara, a German clean-energy asset manager, and Allan Gray, where he served in various roles over a five-year period. Jason holds Bachelor’s and Honours degrees in Economics from Stellenbosch University and is currently pursuing an MSc at the University of Bath. He also holds the CIPM® designation through the CFA Institute, specialising in investment performance measurement.