Orbis Global Balanced: Investing through the cycles
Allan Gray Unit Trust Management
Q1 of 2023 | 1 year ago
The failure of Silicon Valley Bank (SVB) has made markets worry about banks everywhere. In the case of Credit Suisse, that worry was well founded. We believe it is unfounded for the Japanese, Korean and Irish banks we hold. We sold out of also-robust ING Groep, which we had been trimming anyway on valuation grounds, and rotated some of that capital into Korean banks at bombed-out valuations. The rest of the banks we hold continue to look compelling, and we continue to hold them.
Asset manager Coronation saw a need for a shariah-complient leaning asset managemnt and in 2002, founded a standalone manager Kagiso AM (now Camissa AM).
With more than 400 co-managed unit trusts , BCI is by far the biggest administrator of unit trusts in SA as of 2020s.
Botique CI and Botique Investemnt Partners were acquired by Apex Group in year 2023.
Botique CI (BCI) was birth by some members of the management of Met CI in the 2010s when Metropolitan was restructuring to merge with Momentum.
Asset manager Coronation saw a need for a shariah-complient leaning asset managemnt and in 2002, founded a standalone manager Kagiso AM (now Camissa AM).
Orbis Global Balanced: Investing through the cycles
Allan Gray Unit Trust Management
Q1 of 2023 | 1 year ago
The failure of Silicon Valley Bank (SVB) has made markets worry about banks everywhere. In the case of Credit Suisse, that worry was well founded. We believe it is unfounded for the Japanese, Korean and Irish banks we hold. We sold out of also-robust ING Groep, which we had been trimming anyway on valuation grounds, and rotated some of that capital into Korean banks at bombed-out valuations. The rest of the banks we hold continue to look compelling, and we continue to hold them.
