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Finding value in a depressed earnings environment
Allan Gray Unit Trust Management
Allan Gray Unit Trust Management
Q2 of 2024 | 2 years ago
It has not just been a lost quarter or year; the JSE has been a poor place to invest for more than a decade. For a global investor, for every R100 you had to invest in the ALSI at the end of December 2010, you would have approximately R360 today, including all dividends reinvested. In US dollars, a US$100 investment would only be worth about US$126 at the end of March 2024, given that the rand has weakened from R6.62/US$ to R18.88/US$ over this time. Excluding dividends, in nominal terms, the value of that investment would be down in US dollars. In contrast, a US$100 investment in the USA’s major index, the S&P 500, in December 2010 would be worth roughly US$539 at the end of March 2024 – more than four times the return experienced on the ALSI.
Around 2018, online broker, EasyEquities , bought asset manager Cload Atlas and Emperor Asset Management , the transaction culminated into establishing of Easy Asset Management by EasyEquities.
With more than 400 co-managed unit trusts , BCI is by far the biggest administrator of unit trusts in SA as of 2020s.
In 2021, 1st Fusion AM ceased to operate unit trusts, tranfering its existing 3 funds to Stonewood AM.
