CREDO

Billy Pain December 2023

November in review

Global financial markets witnessed a largely positive month in November. Notable inflation data showed signs of cooling, further driving the consensus that developed market central banks may have reached the peak of their tightening cycle. With increased investor confidence in equity markets, the DJIA, S&P 500, Euro STOXX 50, and FTSE 100 all experienced positive returns of 9.2%, 9.1%, 8.1% and 2.3%, respectively over the month and measured in their local currencies. In fixed income markets, the yields on US and UK 10-year bonds fell by 60 and 34 basis points, respectively. Despite the ongoing conflict in the Middle East, Brent Crude oil declined by a further -4.2% from the previous month, due to increasing US supply and scepticism over OPEC+ members’ voluntary supply cuts. Gold finished the month up by 2.6% as investors continue to flock to safety. The pound rose by 3.9% against the US dollar and by 3.0% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Damian Yeomans December 2023 SimplyBiz

Credo hits the road

November and December saw Credo back out on the road with several staff attending the 20 SimplyBiz Investment Forums across the UK. The events started in Chester and finished in Southampton seven weeks later. Over 500 financial intermediaries attended the events and discussions focused on Credo's Dynamic and Global Equity funds, the award-winning Multi Asset Portfolios, as well as the Credo Wealth Platform.

Deon Gouws December 2023 Financial Mail

View from the Thames

Legendary investor Charlie Munger passed away recently.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) tells the story of when he met Munger as well as his long-term partner, Warren Buffett, nearly 20 years ago.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Jarrod Cahn December 2023 Citywire South Africa

Credo portfolio manager interviewed by Citywire SA

Jarrod Cahn, portfolio manager for the Credo Global Equity Fund, answers questions about his investment philosophy and worldview in this interview held with Citywire, a market-leading financial publication.

You may need to subscribe (for free) to read this article.

Read the full story

Jason Spilkin December 2023

Navigating turbulence...

The story goes that the most reliable car is the very last one to come off a production line. Whereas new models go through rigorous pre-production durability testing, this is never a substitute for real world “wear and tear”. Only by the time the very model rolls off the line, have all the unforeseen...

Read the full Spotlight

Deon Gouws November 2023 Radio 702

Bruce Whitfield interviews Deon Gouws

Deon Gouws, Chief Investment Officer at Credo, was interviewed by Bruce Whitfield on Radio 702’s Money Show again earlier this week. The discussion focused on delistings from stock exchanges in South Africa and elsewhere in the world.

@DeonGouws_Credo

Billy Pain November 2023

October in review

Global equity markets continued to face headwinds in October with stocks falling based on the interest rate outlook, and the impact of the Israel-Hamas conflict. The DJIA, S&P 500, Euro STOXX 50, and FTSE 100 all experienced negative returns during the month of -1.3%, -2.1%, -2.6% and -3.7%, respectively and measured in their local currencies. Both the Bank of England and the Federal Reserve Bank kept interest rates unchanged, signalling their higher for longer stances. The yields on US and UK 10-year bonds rose by 36 and 7 basis points, respectively. In commodities, Brent Crude oil declined by -5.5% due to concerns about global supply and demand dynamics, however, the price rallied from the low of the month mainly due to the tragic events that took place in the Middle East. This also impacted gold, which finished the month up 7.4% as investors fled to safety. The pound fell by -0.4% against the US dollar and by -0.4% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Deon Gouws November 2023 Financial Mail

View from the Thames

The Springboks recently won the Rugby World Cup for a record fourth time.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) points out some similarities between the success of this team and that of a duo of winemakers from the same country.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Charles van der Merwe November 2023 Money Marketing UK

Recent merger featured in Money Marketing

Credo’s announced partnership with Anchor Capital covered by the UK’s Money Marketing news channel.

Learn more

Charles van der Merwe November 2023 IOL

Credo featured in IOL

The Independent Online (IOL), a leading South African news platform, covers the merger between Credo and Anchor Capital.

Learn more

Charles van der Merwe November 2023

Credo and Anchor agree to partner, creating $12 bn Wealth and Asset Manager

This exciting new development will see both sets of shareholders become party to a new holding company, allowing both Credo and Anchor to operate independently while leveraging off of each other’s strengths. Crucially, investment team operations will remain separate, ensuring consistency of investment performance with even better customer-focussed service.

Learn more

Deon Gouws November 2023 eNCA

War in Israel

A month has passed since the breakout of war in Israel and Gaza.

This week, Deon Gouws, Chief Investment Officer at Credo, was interviewed on this topic on South African television once more.

Watch the interview

@DeonGouws_Credo

Ben Newton November 2023 Citywire Wealth Manager

Ben Newton featured in Citywire

Citywire AA rated Ben Newton, Co-Manager of Credo Dynamic, recently spoke to Citywire about the worrying geopolitical situation as well as other issues that are currently concerning investors. He highlighted the Fund’s weighting to fixed income, where attractive returns are available in both government and corporate bonds.

You may need to subscribe (for free) to read this article.

Read the full story

Jason Spilkin October 2023

The airline consumers love to hate

According to Michael O’Leary, the outspoken CEO of Ryanair, “The most influential person in Europe in the last 20-30 years has been Margaret Thatcher”. Up until 1986, European airlines were state owned monopolies. Thereafter, under partial European Economic Community (EEC) deregulation...

Read the full Spotlight

Billy Pain October 2023

September in review

Global equity markets continued to fall throughout September reversing some of the recent gains. The S&P 500, NASDAQ, and Euro STOXX 50 posted negative returns of -4.8%, -5.8% and -2.8% respectively, measured in their local currencies. The FTSE 100 finished the month up 2.4% mainly due to its large exposure towards the energy sector, which benefited from a sharp rise in oil prices. Central banks remained hawkish. The European Central Bank increased rates by a further 25 basis points, while the Federal Reserve Bank and the Bank of England paused rate hikes and signalled a “higher for longer” stance. Yields on US, UK and German 10-year bonds rose by 46, 8, and 37 basis points respectively. Among commodities, Brent Crude oil rose by 6.2%, driven by Saudi Arabia and Russia announcing an extension to voluntary oil output cuts to year end. The pound fell by -3.7% against the US dollar and by -1.2% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Deon Gouws October 2023 Financial Mail

View from the Thames

Horrible scenes have been playing out across Israel and Gaza over the past couple of weeks.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) reflects on how financial markets have been responding to news of the war.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Deon Gouws October 2023 702 / eNCA

War in Israel

Horrible scenes are playing out across Israel and Gaza.

Over the past few days, Deon Gouws, Chief Investment Officer at Credo, has been asked by different media outlets in South Africa to comment on the impact of these events on financial markets.

Listen below to his conversation with Bruce Whitfield on The Money Show on 702 and watch his eNCA interview.

Listen to his 702 interview Watch his eNCA interview

@DeonGouws_Credo

Damian Yeomans October 2023 Citywire Wealth Manager

Credo wins top Citywire Award

At the Citywire Investment Performance Awards 2023 held last night, Credo won the Best Small Firm award, beating other top-quality boutique managers who had been short-listed. The award was given on the basis of the best risk-adjusted returns over the three-year period 2020-2022.

The award validates Credo’s consistent implementation of its investment philosophy and highlights that investors do not necessarily need to follow aggressive Growth-style mandates in order to achieve compelling results. Credo was additionally a finalist earlier this year for Investment Week’s Fund Manager of the Year awards.

You may need to subscribe (for free) to read this article.

Read the full story

Billy Pain September 2023

August in review

Global equity markets faced headwinds in August amid renewed weakness in the Chinese economy and specifically their property market, as well as ongoing inflation concerns and rising interest rates. The S&P 500, NASDAQ, Euro STOXX 50, FTSE 100 and Shenzhen CSI 300 all finished the month down 1.6%, 2.1%, 3.8%, 2.6% and 6.0% respectively, measured in their local currencies. The Bank of England and European Central Bank continued with their hawkish stance by increasing rates by another 25 basis points with the market expecting that the Federal Reserve could deliver another rate hike before year-end. The Credit Rating agency, Fitch also downgraded the US Government’s credit rating from AAA to AA+. Yields on US and UK 10-year bonds rose by 15 and 5 basis points respectively, whereas the yield on German 10-year bonds fell by 3 basis points. Brent Crude oil rose by 2.7% despite growth risks in China. The pound fell by 1.5% against the US dollar and was flat against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Deon Gouws September 2023 Financial Mail

View from the Thames

The Rugby World Cup tournament is in full swing.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) considers a few international stocks that could be compared to some of the participants.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Damian Yeomans September 2023 Citywire Wealth Manager

Credo shortlisted in three categories for Citywire Investment Performance Awards 2023

Credo has been shortlisted in three categories in the Citywire Wealth Manager Investment Performance Awards 2023. The annual awards, which are held in association with Asset Risk Consultants, recognise the companies that have delivered the best risk-adjusted returns for their clients over the three years to the end of June. The awards cover seven categories, with individual performance awards for Cautious, Balanced, Growth and Aggressive portfolios, as well as awards recognising the best small, medium and large private client investment management firms. The winners will be announced on 4 October.

Credo is shortlisted in the following categories:

- Best Balanced Portfolio: Credo Multi-Asset Portfolio 60/40
- Best Growth Portfolio: Credo Multi-Asset Portfolio 70/30
- Best Small Firm: Credo

Full details of the awards are available via the Citywire Wealth Manager website.

See details

Andrew Cormack September 2023 MoneyMarketing

Credo showcased in MoneyMarketing magazine

The September 2023 edition of MoneyMarketing features an interview with Andrew Cormack, Credo’s Head of Investment Distribution (SA), and explores what has led to the firm's long-term success with both clients and investing.

Read the article

Billy Pain August 2023

July in review

Global equity markets continued to climb through July fuelled by positive market sentiment as investors were encouraged by a drop in inflation and resilient economic data. The S&P 500, NASDAQ, Euro STOXX 50, and FTSE 100 all finished the month up 3.2%, 4.1%, 1.8%, and 2.3% respectively, and measured in their local currencies. Central banks continued with their hawkish stance, with the Federal Reserve and European Central Bank both increasing rates by a further 25 basis points. Yields on US and German 10-year bonds rose by 12.2 and 10 basis points respectively, whereas the yield on UK 10-year bonds fell by 7.9 basis points. Among commodities, Brent Crude oil rose by 14.2%, which was driven by signs of tightening global supply and rising demand throughout the rest of this year. The pound rose by 1.0% against the US dollar, and by 0.8% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Jason Spilkin August 2023

Quality Control

We are often asked “what is your investment philosophy”. It is not a simple question. Our focus is on buying a portfolio of individual shares, representing stakes in underlying businesses, based on our “bottom up” appraisal of prospective returns over the medium term, and balanced...

Read the full Spotlight

Deon Gouws August 2023 Financial Mail

View from the Thames

An ever-increasing number of people around the world are switching to electric motor vehicles.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) shares his experience of suffering long delays when acquiring an electric car as a result of the recent global supply chain crisis.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Rupert Silver July 2023 FE Fund

Credo’s Dynamic Fund awarded maximum FE fundinfo 5 Crown Rating

The Dynamic Fund has been upgraded to a maximum 5 Crown Rating by FE fundinfo. FE fundinfo Crown Ratings are quantitative ratings ranging from one to five designed to help investors identify funds which have displayed superior performance in terms of stockpicking, consistency and risk control. Only the top 10% of funds are awarded the maximum rating.

Lead Manager of the Dynamic Fund, Rupert Silver, who was also awarded a maximum AAA manager rating by Citywire in April, said “Both (Co-Manager) Ben Newton and I are absolutely thrilled to be upgraded to the maximum 5 Crown Rating from FE fundinfo. After six years of managing the Fund through various market environments, including Brexit, the pandemic and the current high inflationary environment, it is good to see meaningful outperformance for our investors, especially as our UK-bias hasn’t always been beneficial. We have focused on staying flexible, protecting client’s capital and seeking out attractive returns.”

Check out Rupert’s Citywire profile

Danny Carpenter July 2023

June in review

June was largely a positive month for global equities with the S&P 500, NASDAQ, Euro STOXX 50 and FTSE 100 all up 6.6%, 6.7%, 4.4% and 1.4% respectively, in their local currencies, which was propelled by positive corporate earnings and renewed investor confidence around the global economic recovery. However, core inflation accelerated throughout the month causing central banks to further increase policy rates. The European Central Bank increased its rate to 3.5%, while the Bank of England raised the base rate to 5.0%. Yields on US, UK and German 10-year bonds saw rises of 19, 21 and 11 basis points respectively. Among commodities, Brent Crude Oil and Copper saw rises of 4.5% and 3.5% respectively, whereas Gold fell 2.2% during the month. The pound rose by 2.6% against the US dollar but fell 0.1% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Deon Gouws July 2023 Radio 702

Bruce Whitfield interviews Deon Gouws

Deon Gouws, Chief Investment Officer at Credo, made his second appearance in the Investment School feature on Radio 702’s Money Show with Bruce Whitfield in South Africa earlier this week.

@DeonGouws_Credo

Deon Gouws July 2023 Financial Mail

View from the Thames

Tax-free savings accounts are available to investors in both the United Kingdom and South Africa.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) writes a letter to his daughter on her 16th birthday, telling her for the first time about her own JISA (Junior Individual Savings Account).

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

William Godsave July 2023

Reduce your IHT bill and pass on your wealth with confidence

Credo’s Senior Financial Planner, Will Godsave, was joined by Michael Reilly from Foresight Group, to discuss their IHT portfolio and how it can help clients who are looking to mitigate IHT. Michael explained Foresight’s approach to managing the portfolio, as well as its key benefits including its ability to mitigate IHT within a matter of months.

The IHT portfolio has a very different risk and reward profile to alternative options in this space, such as AIM portfolios, and may therefore be suitable as an alternative, or to sit alongside, the AIM portfolio option.

Billy Pain July 2023 Citywire Wealth Manager

Next Gen featuring Billy Pain

Billy Pain reveals what attracted him to wealth management, five pieces of advice for young people, and his favourite tea and biscuit combination in the latest Citywire Next Gen article.

You may need to subscribe (for free) to read this article.

Read the article

Danny Carpenter June 2023

May in review

Rising inflation remained a key concern for investors in May as central banks continued to raise interest rates, which, overshadowed the technology sector's advancements in artificial intelligence and new product releases. Global equity markets had mixed returns, with the S&P 500 and NASDAQ recording gains of 0.4% and 5.9% respectively, while the Euro STOXX 50 and FTSE 100 saw declines of -1.9% and -5.0% respectively. Bond yields had mixed movements, as US and UK 10-year yields increased by 22.1 and 46.4 basis points respectively, reflecting growing economic confidence and inflationary pressures. Commodity prices diverged over the month as concerns about a global recession weighed on demand. Brent Crude Oil, Copper, and Gold all declined by 8.7%, 6.1%, and 1.3% respectively. In the currency markets, the pound fell 1.4% against the US dollar and increased 2.1% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Jason Spilkin June 2023

Pied Piper PBMs

Healthcare is an emotive, politically sensitive issue. In the UK, the NHS is a political football weaponised on both sides of the aisle to boost poll ratings. Few of us can forget the daily press conferences during the Covid-19 pandemic, the clanging of pots and pans every Thursday evening to pay homage to healthcare workers, and the fanfare of the...

Read the full Spotlight

Deon Gouws June 2023 Financial Mail

View from the Thames

The US debt ceiling makes headlines every few months and it was lifted again recently.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) explains why this is hardly an issue which investors should worry about.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Deon Gouws May 2023 Radio 702

Deon Gouws featured on 702

Following runaway inflation numbers around the world over the past year and a half, indications are that prices of manufactured goods are now declining at a rapid pace - the question is whether or not this will in fact turn into a deflationary spiral?

On Tuesday evening, Deon Gouws (Credo CIO) discussed this issue with leading broadcaster Bruce Whitfield on South African radio station 702.

@DeonGouws_Credo

Billy Pain May 2023

April in review

After an intense first quarter of the year, April brought some positive economic news for investors. The recent banking turmoil had raised concerns of a wider systematic contagion, but the US's largest banks reported better-than-expected earnings, partially restoring confidence in the market. The S&P 500, Euro STOXX 50 and FTSE 100 all finished the month up 1.6%, 1.8% and 3.4% respectively, measured in their local currencies, which was propelled by strong performances from stocks in the energy and healthcare sectors. In the bond markets, yields on US, UK, and German 10-year bonds saw mixed movements over the month, with US yields declining by 4.6 basis points, while UK and German yields rose by 22.9 and 2.1 basis points, respectively. Among commodities, Brent crude oil and gold both saw positive returns of 1.1% and 1.0%, respectively, while copper saw a decline of 4.7%. The pound rose by 1.9% against the US dollar and 0.3% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

William Godsave May 2023

Planning opportunities to mitigate UK IHT

With succession planning and mitigating IHT becoming an increasingly concerning issue for many UK families, it is important that advisers understand how they can help their clients in this area and provide them with solutions to mitigate IHT.

William Godsave (Senior Financial Planner at Credo) and Harry Robson (Director at LGBR Capital) covered various options for mitigating UK IHT, with a particular focus on AIM solutions as an effective option in this regard. The recently launched Credo AIM portfolios were discussed, as well as the background between the partnership between Unicorn and Credo to ensure the most beneficial client outcomes.

Deon Gouws May 2023 Financial Mail

View from the Thames

Stock market competitions are all the rage, with members of the public signing up in large numbers.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) questions the short-term focus of these events.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Jarrod Cahn May 2023 Citywire South Africa

The opportunity in value

Jarrod Cahn recently presented at the BCI Investment Conference in SA. He spoke about the cost of capital, sector valuations and where one needs to look to find outperformance in current markets.

You may need to subscribe (for free) to read this article.

Read the article

Charles van der Merwe May 2023 FE Fund

Multi-Asset Portfolios available on FE MPS Directory

Credo is pleased to announce that the Credo Multi-Asset Portfolios (MAPs) are now available via the MPS Directory on FE Analytics. Financial Intermediaries can now analyse and compare the portfolios as part of their investment research and reporting. Launched in 2014, Credo MAPs have built an excellent record of consistent returns. They follow an evidence-based approach, focusing on diversification and long-term strategic asset allocation to both traditional and alternative asset classes.

Read the article

Charles van der Merwe May 2023 Citywire Wealth Manager

AIM IHT Portfolios launch in the media again

Citywire covers the launch of Credo’s new AIM IHT MPS range that includes Growth, Income and ESG portfolio options.

You may need to subscribe (for free) to read this article.

Read the article

Charles van der Merwe May 2023 International Adviser

AIM IHT Portfolios featured by International Adviser

In this article, International Adviser covers the launch of Credo’s new AIM IHT MPS range that includes Growth, Income and ESG portfolio options.

Read the article

Charles van der Merwe May 2023 Citywire Wealth Manager

AIM IHT Portfolios launch in the media again

Citywire covers the launch of Credo’s new AIM IHT MPS range that includes Growth, Income and ESG portfolio options.

You may need to subscribe (for free) to read this article.

Read the article

Charles van der Merwe May 2023 International Adviser

AIM IHT Portfolios featured by International Adviser

In this article, International Adviser covers the launch of Credo’s new AIM IHT MPS range that includes Growth, Income and ESG portfolio options.

Read the article

Charles van der Merwe May 2023 FT Adviser

Credo launches AIM IHT Managed Portfolios

In this article, FT Adviser covers the recent launch of Credo’s new AIM IHT MPS range that includes Growth, Income and ESG portfolio options.

Read the article

Deon Gouws May 2023 Radio 702

Bruce Whitfield interviews Deon Gouws

Deon Gouws, Chief Investment Officer at Credo, was this week’s guest during the Investment School feature on Radio 702’s Money Show in South Africa, with Bruce Whitfield.

@DeonGouws_Credo

Jason Spilkin April 2023

ESG Capture

According to President Reagan, the most terrifying words in the English language are: “I’m from the government and I’m here to help”. Reagan and Margaret Thatcher were proponents of “supply side economics”, which postulates that economic growth is best fostered through stimulating supply (through private sector investment), as opposed to...

Read the full Spotlight

Jarrod Cahn April 2023 Investment Week

Fund Manager of the Year - Finalist Q&A

Credo Global Equity has been shortlisted as a finalist for Investment Week Fund Manager of the Year Awards 2023. Lead manager, Jarrod Cahn, recently discussed the fund with Investment Week. In the interview, he focused on the investment process, current positioning and the sectors and stocks that have driven the strong performance to date.

Read the Investment Weeks' article Read the PDF

Billy Pain April 2023

March in review

US and European equity markets continued their advance throughout March despite a major sell-off in the financial sector due to the collapse of Silicon Valley Bank and the forced sale of Credit Suisse. The S&P 500, NASDAQ and Euro STOXX 50 were all up 3.7%, 6.8% and 2.0%, respectively. However, the FTSE 100 finished the month down by 2.5% as headline inflation persisted in the UK. The Bank of England continued to tighten its monetary policy and increased the base rate by a further 25 basis points. Brent crude oil finished the month down by 3.0% as oil prices came under pressure as a result of the crisis in the banking sector. In fixed income markets, yields on US, UK and German 10-year bonds declined by 45, 34 and 36 basis points, respectively. The pound gained 2.6% against the US dollar.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Deon Gouws April 2023 Financial Mail

View from the Thames

Business models of banks have come under renewed scrutiny over the past few weeks and the world has seen a number of bailouts and mergers in the sector.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) provides perspective on what went wrong at high-profile Silicon Valley Bank.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Jack Clayton March 2023

February in review

Following a strong start to the year, February witnessed a divergence in performance across global equity markets. The S&P 500 finished the month down by 2.4% in US dollar terms, whereas the Euro STOXX 50 and FTSE 100 both finished the month up by 1.9% and 1.8%, respectively in their local currencies. Most notably, February marked an all-time high for the FTSE 100. In amongst strong labour market data, inflation continued to prove persistent, leaving central banks with little option but to continue with their sustained hawkish monetary policies. In fixed income markets, yields rose on US, UK and German 10-year bonds by 41, 49 and 37 basis points, respectively. The pound fell 1.8% against the US dollar and 2.4% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Rupert Silver March 2023

Bonds are Back - Investment opportunities

Credo portfolio managers, Rupert Silver and Benjamin Newton, discussed investment opportunities within corporate bonds, in light of the current market conditions. The higher interest rate and uncertain economic environment, enables investors the prospect of generating a healthy income stream and total return over the coming years.

They provided a brief bond refresher before touching on the Credo Income Portfolios and how these discretionary managed solutions offer differentiated direct access to institutional bond markets.

Rupert Silver March 2023 Portfolio Adviser

Rupert Silver featured in Portfolio Adviser

Rupert Silver, lead-manager of Credo Dynamic, recently spoke to Portfolio Adviser to discuss the fund’s current positioning and how he is finding attractive returns in lower-risk assets in the current higher interest rate environment.

Read the article

Rupert Silver March 2023 CNN Business

Banking jitters - where to from here?

Credo’s Head of Fixed Income, Rupert Silver, was recently quoted in an article for CNN Business. He commented on the recent volatility in the banking sector and highlighted the likely higher level of risk in US regional banks.

Read the article

Jason Spilkin March 2023

Make something of yourself

America, they say is the land of opportunity. The tale of Thomas Peterffy and Interactive Brokers (“IBKR”), which we first bought in 2021, is one of many American rags to riches success stories giving rise to this adage. Peterffy was born on the wrong side of the iron curtain, in Hungary, during World War II. The story goes that he was delivered in...

Read the full Spotlight

Deon Gouws March 2023 Financial Mail

View from the Thames

South Africa is still suffering from crippling electricity blackouts.

Following up on his previous column on this topic for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo) changes focus and looks at some of the positives.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Deon Gouws March 2023 Radio 702

Deon Gouws featured on 702

Financial markets are going through a turbulent time with the demise of Silicon Valley Bank as well as some negative news-flow surrounding Credit Suisse, to mention but two examples. On Wednesday evening, Deon Gouws (Credo CIO) discussed some of these issues with Bruce Whitfield on South African radio station 702.

@DeonGouws_Credo

Damian Yeomans March 2023 Investment Week

Credo shortlisted for Investment Week Fund Manager of the Year Awards 2023

Credo Global Equity Fund has been named on a shortlist of funds in the Global Equity category at the prestigious Investment Week Fund Manager of the Year Awards. Amongst other criteria, funds were selected based on their performance over the last 3 years, as well as the relative level of risk. The event is due to take place in London on 22 June.

See nominees list

Jarrod Cahn March 2023 Citywire Wealth Manager

Jarrod Cahn featured in Citywire

With a heightened focus on the defence industry and the increasing Government defence budget spend, Citywire asked three fund managers whether the sector offers an attractive investment opportunity.

Read the interview

Andrew Cormack March 2023 Raging Bull Award

Credo wins Raging Bull Award

Credo offers tailored offshore investment solutions to all our clients. We are delighted to win the Raging Bull Award - South Africa's highest accolade within the asset management industry - for Offshore Manager of the Year 2022. Join us on the path to prosperity.

Check out the full list of winners

Jason Spilkin February 2023

Shell’s stealth dividend

“Arbitrage” is a fancy word which is often used in the finance industry. Essentially it means taking advantage of price differentials in the same asset, across markets, in order to make a quick buck. It’s what keeps markets efficient. By way of example, if you could buy a share in Microsoft on the New York Stock Exchange and simultaneously sell it at a...

Read the full Spotlight

Deon Gouws February 2023 Financial Mail

View from the Thames

South Africa has been suffering from crippling electricity blackouts for some time, euphemistically referred to as loadshedding.

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo), reflects on the situation following a recent trip to the country.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Deon Gouws February 2023 Sakegesprek

Deon Gouws featured on Sakegesprek

Last week, Credo CIO Deon Gouws featured on the Sakegesprek program on South African television in a discussion which focused on the Credo Global Equity Fund.

Watch the interview in Afrikaans Watch the interview in English

Jack Clayton February 2023

January in review

After a particularly turbulent year for investors, global equity and fixed income markets had a strong start to 2023. The S&P 500, Euro STOXX 50 and FTSE 100 all finished the month up by 6.3%, 9.9% and 4.3%, respectively in their local currencies. Although the pressures of inflation, monetary policy and geo-political conflict continued to weigh in on investors, optimism spurred amongst positive news of stabilising gas prices, relaxation of Covid restrictions and resilient labour markets. Fixed income markets continued their correlation with global equity markets, although in a more forgiving direction for investors thus far. Yields fell on US, UK and German 10-year bonds by 37, 34 and 29 basis points, respectively. The pound gained 2.0% on the US dollar and gained 1.5% on the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Jarrod Cahn February 2023 Asset TV

Credo Global Equity Fund featured on Asset TV

Jarrod Cahn, Portfolio Manager of the Credo Global Equity Fund, is interviewed by Chloe Mulder as part of the ongoing Boutiques Connect series on Asset TV.

You may need to subscribe (for free) to watch this video.

Watch it

Deon Gouws February 2023 Glacier Summit

Glacier Investment Summit

Last week, Credo Chief Investment Officer, Deon Gouws participated in a panel at the Glacier Investment Summit in Johannesburg. He presented on the Credo Global Equity Fund which is available via Glacier – a leading investment platform in South Africa.

Click here for more details

Jack Clayton January 2023

December in review

Following on from two consecutive positive months, global equity and bond markets fell in the final month of 2022. Despite inflation gradually trending downwards in the US, investor sentiment had not yet recovered in the face of uncertainty surrounding the timing of a pivot in the Federal Reserve’s hawkish monetary policy. The S&P 500, Euro STOXX 50 and FTSE 100 all finished the month down by 5.8%, 4.0% and 1.5%, respectively in their local currencies. Meanwhile in China, the Hang Seng delivered a positive return of 6.4%, bolstered by a continued relaxation of zero-Covid policy restrictions. Negative sentiment within fixed income markets led to a rise in yields on US, UK and German 10-year bonds by 27, 51 and 64 basis points respectively. The pound gained 0.2% on the US dollar and fell by 2.5% against the euro.

Click below for the latest factsheets.

Best Ideas Portfolio Dividend Growth Portfolio
Multi-Asset Portfolio Core 20/80 Multi-Asset Portfolio Core 45/55 Multi-Asset Portfolio Core 60/40 Multi-Asset Portfolio Core 70/30
Multi-Asset Portfolio ESG 20/80 Multi-Asset Portfolio ESG 45/55 Multi-Asset Portfolio ESG 60/40 Multi-Asset Portfolio ESG 70/30

Jason Spilkin January 2023

This too shall pass

The Old Testament tale of Joseph offers an important lesson for long term investors – that of cycles. In it, Joseph interpreted Pharoah’s dream of seven fat cows consuming seven thin ones, portending seven years of bountiful harvests followed by seven years of famine and successfully advised Pharaoh to stockpile grain in preparation. “Forecasting” is a dirty word amongst...

Read the full Spotlight

Deon Gouws January 2023 Financial Mail

View from the Thames

Are there any investment lessons to be gleaned from the recent FIFA World Cup?

In his latest column for leading South African publication Financial Mail, Deon Gouws (Chief Investment Officer at Credo), addresses this question based on a fun competition amongst staff of the firm which focused on picking the most successful teams over the course of the tournament.

Read the (paywalled) article Read the PDF

@DeonGouws_Credo

Jarrod Cahn January 2023 The Telegraph

Credo featured in The Telegraph

Jarrod Cahn, lead manager of Credo Global Equity Fund, recently spoke to The Telegraph about the fund’s holding in Adidas. He discusses both the challenges and opportunities for the company and why he feels optimistic about the potential for shareholder returns.

Read Telegraph's Article

← 2022 2023 2024 →

News - 2023

November in review

Credo hits the road

View from the Thames

Credo portfolio manager interviewed by Citywire SA

Navigating turbulence...

Bruce Whitfield interviews Deon Gouws

October in review

View from the Thames

Recent merger featured in Money Marketing

Credo featured in IOL

Credo and Anchor agree to partner, creating $12 bn Wealth and Asset Manager

War in Israel

Ben Newton featured in Citywire

The airline consumers love to hate

September in review

View from the Thames

War in Israel

Credo wins top Citywire Award

August in review

View from the Thames

Credo shortlisted in three categories for Citywire Investment Performance Awards 2023

Credo showcased in MoneyMarketing magazine

July in review

Quality Control

View from the Thames

Credo’s Dynamic Fund awarded maximum FE fundinfo 5 Crown Rating

June in review

Bruce Whitfield interviews Deon Gouws

View from the Thames

Reduce your IHT bill and pass on your wealth with confidence

Next Gen featuring Billy Pain

May in review

Pied Piper PBMs

View from the Thames

Deon Gouws featured on 702

April in review

Planning opportunities to mitigate UK IHT

View from the Thames

The opportunity in value

Multi-Asset Portfolios available on FE MPS Directory

AIM IHT Portfolios launch in the media again

AIM IHT Portfolios featured by International Adviser

AIM IHT Portfolios launch in the media again

AIM IHT Portfolios featured by International Adviser

Credo launches AIM IHT Managed Portfolios

Bruce Whitfield interviews Deon Gouws

ESG Capture

Fund Manager of the Year - Finalist Q&A

March in review

View from the Thames

February in review

Bonds are Back - Investment opportunities

Rupert Silver featured in Portfolio Adviser

Banking jitters - where to from here?

Make something of yourself

View from the Thames

Deon Gouws featured on 702

Credo shortlisted for Investment Week Fund Manager of the Year Awards 2023

Jarrod Cahn featured in Citywire

Credo wins Raging Bull Award

Shell’s stealth dividend

View from the Thames

Deon Gouws featured on Sakegesprek

January in review

Credo Global Equity Fund featured on Asset TV

Glacier Investment Summit

December in review

This too shall pass

View from the Thames

Credo featured in The Telegraph

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