Sustained business confidence is fundamental for both the US and SA to lift economic growth to more exciting levels in the medium term. But while the policies of the current US administration are creating ongoing uncertainty for businesses, SA is taking tentative steps, in certain areas, to encourage private sector investment in the economy.

The South African Minister of Finance, Enoch Godongwana, presented his fifth National Budget on Wednesday, 25 February 2026. While the global and domestic economic backdrop remains challenging, some of SA’s recent economic reform initiatives are gaining traction, resulting in apositive medium-term growth outlook.

The Financial Sector Conduct Authority (FSCA) and Prudential Authority (PA) draft on material information technology (IT) and cyber event reporting has begun an important conversation. Beyond compliance, it highlights a growing area of risk: third-party providers. Financial institutions increasingly rely on cloud platforms, fintech partners, and outsourced services. A breach or disruption at one of these providers could ripple across the institution and, if the draft is finalised as proposed, may trigger regulatory reporting obligations.

Africa’s place inthe global investment landscape is again under scrutiny, not because conditions are calm and predictable, but precisely because they are not.

I agree with the sentiments expressed by Canadian Prime Minister Mark Carney at the World Economic Forum 2026 when he said that the world has entered a period of rupture rather than gradual transition. I submit that Africa cannot afford to remain passive as global capital is reshuffled.

Global growth remains resilient despite a trade war with the US and rising geopolitical conflict. Discover the forces shaping the 2026 outlook, risks, and opportunities for investors and policymakers.

South Africa’s corporates hold record levels of cash, a sign of strength but also of deep-seated caution. STANLIB chief economist Kevin Lings says low growth, infrastructure constraints and accountant-driven leadership have shaped a conservative corporate culture. Unlocking this capital, he notes, will require renewed confidence, stronger partnerships, and a shift from risk avoidance to opportunity-led investment.

SA has been removed from the FATF grey list, together with Nigeria, Mozambique and Burkina Faso. This should provide some uplift to investor and business confidence.

On Thursday, 31 July 2025 we hosted a webinar with Karen Ward, Chief Market Strategist for EMEA at our strategic offshore investment partner J.P. Morgan Asset Management and Kevin Lings, Chief Economist at STANLIB Asset Management. The webinar explored key insights from J.P. Morgan Asset Management’s 2025 Mid-Year Investment Outlook for building resilient portfolios in uncertain times.

In 2024 the world economy grew by an estimated 2.8%, in line with its long-term average, and at the beginning of this year was forecast to expand by 2.7% in 2025. Unfortunately, during the past six months the global economy has experienced substantial and sustained headwinds relating mainly to US trade policy uncertainty. Consequently, global growth has been revised down to 2.2% in 2025 with most economies, especially the US, decelerating relative to last year.

The South African Minister of Finance, Enoch Godongwana, presented the third iteration of his fourth National Budget on Wednesday, 21 May 2025. This followed the withdrawal of the second attempt amid ongoing disagreement within the Government of National Unity (GNU) cabinet on the amended proposed increase of the VAT rate by one percentage point over two years.

After a year of hands-on experience with STANLIB Multi-Asset’s bespoke AI tool MAISY (Multi-Asset AI System), we’ve gained unique insights into both the pitfalls and potential of this transformative technology.

Following several years of volatility and uncertainty, 2023 promises to bring more challenges and opportunities.

Until monetary authorities provide clear guidance about future policy, volatility risks highlight the need for asset diversification in long-term investment portfolios.

Russia’s invasion of Ukraine has resulted in tragedy and a significant human toll. Global commodity prices have soared posing risks to the global economic recovery.

Fast-growing regions should in theory offer investors superior growth opportunities compared to developed markets.

STANLIB’s Multi-Strategy team explores the impact of the recent policy change implemented by the US Federal reserve

South Africa’s economic growth challenges may have been amplified in 2020 with the fiscus under severe strain. The strategic direction from the country’s political leadership remains focused on unlocking much needed growth and prosperity. Among the frequently discussed growth levers for government are improved fiscal discipline, prescribed assets and the presidency’s Infrastructure Fund. Which one of these options is more likely to deliver the growth SA needs?

What will define markets in 2019? This outlook breaks down the key economic and political forces at play, offering insight into how absolute return strategies can navigate a shifting global landscape.

In this episode, Johan Marnewick,  Head of Fixed Income Private Markets at STANLIB, and Karishma Bhoolia, Senior Climate Risk Analyst at JustShare, talk to Jeremy Maggs about what is needed in the way of policy and standards to give impact investing greater credibility.

The fragility we are starting to see in certain areas of global private credit is primarily a US, and partly a European, issue. It is unlikely to have a direct contagion effect on SA private credit, for a number of reasons.

In modern investment management, how decisions are made matters just as much as which decisions are made. As markets become more complex, interconnected, and information-rich, fragmented or ad-hoc investment processes increasingly struggle to deliver consistent outcomes. This is where an integrated, systematic investment engine becomes a powerful differentiator, as seen in STANLIB’s approach to equity investing.

In the ninth podcast in our “The More You Know” series, Marisa Bester, COO of Infrastructure Investment at STANLIB Asset Management, and Johan Marnewick, Head of Fixed Income Private Markets, speak to Jeremy Maggs about how this capital can be mobilised. They discuss different types of infrastructure projects, the risks involved, and how to measure their impact.

After years of easy money masking underlying fragilities, signs of strain are now emerging in parts of the private-credit ecosystem. Listed private-credit lenders are weakening, software‑linked borrowers are under pressure, and liquidity structures are being tested as refinancing becomes more challenging. While not dramatic, these shifts echo risks highlighted in earlier Unicorn articles and suggest the long cycle of abundant liquidity is slowly unravelling. Understanding how stress in private markets can spill into listed credit and equity is becoming increasingly important for portfolio management.

Trust your manager to confidently navigate volatile fixed income markets, even as the Middle East reshapes potential pathways.

STANLIB’s Multi-Asset team believes that the US could be inthe early stages of an early cyclical growth phase, for several reasons.

The South African Minister of Finance, Enoch Godongwana, presented his fifth National Budget on Wednesday, 25 February 2026. While the global and domestic economic backdrop remains challenging, some of SA’s recent economic reform initiatives are gaining traction, resulting in apositive medium-term growth outlook.

In this episode of TheMore You Know, Jeremy Maggs interviews STANLIB Asset Management CEO, DerrickMsibi, who argues that Africa has the potential to attract capital more broadlythan only to the JSE, which many investors mistakenly treat as a proxy for theentire continent. He proposes three key policy moves that would help to movethe continent onto the investment radar.

If you want to understand why cryptocurrency refuses to fade into irrelevance, start with a number that should unsettle anyone who cares about the future of money.

In this episode, Rademeyer Vermaak, Head of Systematic Solutions, talks to Jeremy Maggs about why cryptocurrency is important and how it is evolving in response to the needs of the global financial system. While existing regulation does not allow South African asset managers to hold it now, that is likely to change in the future, he suggests.

2025 was a year of exceptional returns for South African investors. As we enter 2026, our outlook is one of cautious optimism. The global investment environment is still buoyed by strong monetary and fiscal policy support, which continues to underpin equity markets. Earnings growth has been robust and economic resilience has persisted, despite the challenges posed by tariffs and geopolitical disruptions. Our team emphasises that policy support remains a cornerstone for equities, and the current cycle is unlikely to be derailed in the near term.

In the seventh episode of our “The More You Know” series, Mark Lovett, STANLIB Head of Investments, shares his experience of other market bubbles to help put the current AI hype into context. He emphasises the need for investors to identify the winners and losers in this new technology wave and discusses how AI is affecting the asset management industry.

This year’s Medium-Term Budget Policy Statement (MTBPS) was presented in a slightly more encouraging domestic economic environment, with a modest improvement in SA’s growth dynamic since the May 2025 National Budget.

Investors face an uncertain market environment that demands responsiveness and discernment, in a context where a 9.8% (circa CPI+5%) return is regarded as modest by local standards.

In a new uncertain world, after decades of underinvestment, European nations are embarking on an unprecedented military spending surge, creating a potential golden era globally for defence contractors. With NATO members raising commitments to target spend from 2% to at least 3% of GDP and an estimated €500 billion investment gap over the next decade, the sector offers compelling growth prospects despite an already strong year-to-date performance.

In episode six of our “The More You Know” vodcast series, Peter van der Ross, Deputy Head of STANLIB Multi-Asset, talks to Jeremy Maggs about the concerns about global bonds and why SA bonds are attracting interest, including from global investors. He also pinpoints which market areas are most appealing to the team now.

In the latest episode of our The More You Know vodcast series, Sylvester Kobo, Deputy Head of Fixed Income at STANLIB Asset Management, counsels’ investors to “get comfortable with discomfort” for the foreseeable future and avoid focusing on short term ups and downs.

He also discusses the factors that have driven a 14% return from the local bond market. He explains how the Fixed Income team is actively managing duration to respond to the volley of new information and filtering out what is not relevant.

SA's economy feels sluggish, yet the JSE has been notching up record highs. Many investors are baffled by the fact that share prices are climbing while growth remains weak.

In the latest episode of The More You Know, the podcast from STANLIB Asset Management, two of the firm's senior multi-asset specialists, Warren Buhai and Peter van der Ross, explained why markets and economies so often disconnect, and what investors should do to respond.

In this episode of  The More You Know, Chetan Ramlall explores how exponential data growth is transforming investment strategy.

With global data volumes nearing 200 zettabytes, the challenge is no longer access, but interpretation. Learn how systematic investing blends fundamentals, sentiment, and macro context to build smarter portfolios.

The future isn’t man  versus  machine. It’s man  and  machine.

In episode 2 of  The More You Know, Rademeyer Vermaak, Head of STANLIB Asset Management's Systematic Solutions Team, joins Jeremy Maggs to explore how structure and science are redefining investing. In a market full of noise, their approach blends data, discipline and human insight to build resilient portfolios and deliver consistent performance over time.

Right now, the world is unsettled by inflation, war, fragile geopolitics, and dizzying stock markets that often defies logic and staying invested can feel like a test of nerve. But for STANLIB Asset Management's Head of Multi-Asset, Marius Oberholzer, this moment may be one of the most exciting and misread of his entire career.

Private credit is not difficult to understand, but the skills to package different elements together to achieve optimal risk-adjusted returns can only be found among professional fund managers.

In a world where financial markets shift overnight and the rules are constantly being rewritten, knowledge is more than power - it's a competitive advantage. The More You Know is our new vodcast series created to give investors the insights they need to navigate today's complex local and global market landscape. This is your essential guide to navigating uncertainty and turning insight into long-term investment success.

In today's world, the case for gender equality is not just a moral imperative - it is a strategic investment. Nowhere is this more evident than in the infrastructure sector: the roads we drive on, the power plants that light our homes, the fibre that connects us, and the ports that move our goods. Yet too often, the economic value of including women in the planning, execution, and benefits of these projects is overlooked.

Great asset managers deliver consistent, client-focused strategies tailored to long-term financial goals.

Digital transformation is redefining how IFAs deliver personalised, efficient investment advice through smarter, tech-driven platforms.

The world is fast approaching a climate tipping point. According to a 2025 study published in Earth System Science Data, the global carbon budget for limiting warming to 1.5°C could be exhausted in just two years if current emissions continue unchecked. Despite growing investment in renewables, fossil fuels still account for over 80% of the global energy supply. The urgency of transitioning to a low-carbon economy is clear, but the scale of investment required is staggering. This combination creates a significant economic and investment opportunity.

Our top stock picks for the latter half of 2025 should be considered in the context of our active Equity investments process which focuses on the more liquid stocks on the JSE and ranks stocks based on quality, growth and value lenses, using metrics that have a bearing on future relative stock prices. This approach has proved robust through bull and bear cycles and underpins our stock picks.

A reality check on the opacity, fragility and risks still lurking beneath private asset markets. We first warned in 2019 that many private markets – especially venture capital and private equity – were fuelled by easy money, not business fundamentals. Today, those risks have already started to crystallise. With inflated valuations being repriced – often painfully – and with liquidity still constrained, the full extent of the fall-out may still lie ahead. Given few exits and rising defaults, many investors are now discovering the volatility they thought they had avoided.

On 5 June 2025 we hosted a webinar with Sylvester Kobo, Deputy Head of Fixed Income, and Tarryn Sankar, Head of Credit and Investment Research at STANLIB Asset Management. The webinar presented the outlook for fixed income markets and explored how the STANLIB Flexible Income Fund is positioned to continue delivering returns.

The current landscape for gold shares reveals a critical juncture, as the market grapples with volatility and changing dynamics. What drives the gold price is a widely-debated topic. While those drivers have varied in importance throughout its rich history, the linkage to the value of US dollar has carried through since the start of the Gold Standard Era.

The impact of recent trade policy changes will reverberate across the globe over time periods ranging from days to decades. While many longer-term implications are uncertain, some effects, such as the gradual rise in real yields on bonds and the secular pressure to increase defence spending, are already evident, allowing us to make informed longer-term portfolio adjustments.

The South African Rand (ZAR) is navigating a turbulent global financial landscape marked by significant uncertainty. As of 14 April 2025, the ZAR's performance against major currencies reflects a mix of domestic vulnerabilities, which began with a delayed budget in February. This was compounded by speculation regarding the tailwind (from an investor's perspective) of a fractious Government of National Unity (GNU) and the subsequent announcement of a new global tariff regime enacted by the US, without offsetting positive measures such as tax cuts and deregulation.

The JSE’s shrinking listings, mirroring a global trend, raise concerns about investment opportunities. However, a strategic, systematic approach to portfolio construction can effectively navigate this evolving landscape.

The South African Minister of Finance, Enoch Godongwana, presented the third iteration of his fourth National Budget on Wednesday, 21 May 2025. This followed the withdrawal of the second attempt amid ongoing disagreement within the Government of National Unity (GNU) cabinet on the amended proposed increase of the VAT rate by one percentage point over two years.

SA has come a long way since its first democratic elections in 1994, which brought the ANC into power with a 62.6% majority.

Following a global wave of inflation and the steepest rate hiking cycle in memory, global bond yields are at levels not seen since before the Global Financial Crisis of 2007.

We warned of the fragility of the unicorns (unlisted companies with valuations over $1 billion) in our first take in 2019. Today the potential for sizeable corrections in unlisted assets looks even greater. Misallocated capital is likely to be destroyed as business models based on a historically low cost of capital are repriced.

Numbers don’t lie. An article published on citywire.co.za last week noted that in recent times the ‘Absolute Return’ funds available to South African institutional investors have largely failed to achieve their CPI-related performance targets.

In STANLIB’s Multi-Strategy team we recognise that the future is best understood as a range of outcomes and is constantly evolving.

In this paper we unpack two commonly-held assumptions: that one must be in the market on its best days to have a chance of long-term outperformance, and that market timing is impossible.

On 23^rd February 2022 the South African Minister of Finance changed the rules for local retirement funds by raising their maximum offshore allocation from 30% to 45%. The significance of this change can’t be overstated. In the STANLIB Multi-Strategy team, we believe that how South African investors respond to it could be the most important determinant of their returns over the next decade.

In a world of uncertainty, high inflation, low interest rates, high liquidity and rising government debt – how can we find income growth and capital protection from our multi-asset income fund?

Over the last century, the rate of technological progress has far outpaced any period prior in human history, and we find ourselves in the midst of incredible change. As clients are seeking wealth preservation and real growth, it is important to realise that the landscape has shifted, and the winds of change are rapidly reaching gale-force proportions.

In this podcast, Peter van der Ross, portfolio manager in the STANLIB Multi-Strategy team, argues that Emerging Markets (EMs) may struggle to outperform Developed Markets in 2022 because of issues facing China, which dominates the EM complex, and the likely strengthening of the US dollar as the Fed responds to inflation threats.

The pandemic and its aftermath have thrust policymakers into dangerous waters. Policymakers are currently sailing through a data fog, in which extremes in data points continue to plague traditional mathematical models. These models guide their management of the economy and determine the best course of action.

In a world of uncertainty, rising inflation, low interest rates, high liquidity and rising government debt – how do we generate income growth and capital protection from our multi-asset income fund?

Against a backdrop of cyclical recovery and vaccine hope, investors in many equity markets this year would have seen stellar returns. But where to from here?

In a world of uncertainty, rising inflation, low interest rates, high liquidity and rising government debt – how do we generate income growth and capital protection from our multi-asset income fund?

The logistics, the costs and the availability of the Covid-19 vaccine bring significant challenges and complexity to a simple solution aimed at leading societies and economies back to health.

The Absolute Return team holds a positive outlook on South African banks, based on the following factors which we unpack in this article written by Vaughan Henkel.

The coronavirus pandemic has generated a new level of co-ordination between central banks and governments, with potentially profound consequences for the economy and markets.

In the middle of a global health care pandemic, with the economy on life support, the health care sector plays a defensive role in portfolio construction.

In February 2020, we assessed nominal South African Government Bonds (SAGBs) through our six-lens Tactical Asset Allocation (TAA) framework.

In this article, Marius Oberholzer, Head of STANLIB's Absolute Returns team, provides a breakdown of their 2021 tactical asset allocation and thinking.

2020 has been an extraordinary year. Now is a pertinent time to reflect on the investment landscape and how key market events and dynamics have shifted and continue to shape our investing environment. In this final webinar in our spring/summer series, STANLIB Absolute Returns’ senior portfolio managers, Warren Buhai and David McNay, shared insightful views on markets and investing across the world as we head towards the end of a year marked by unforeseen change.

In this live-recorded webinar, STANLIB’s Head of Absolute Returns, Marius Oberholzer, and Senior Portfolio Manager, Peter van der Ross, give an update on their asset allocation views heading into the third quarter. The team also provide insights into what has driven their asset preferences and explaine the shift in their long-held SA bond view. They also expand on their scenario evaluation, which is key to their tactical process, and evaluate if this bounce is a “dead cat” or if their “V for victory” scenario is in play.

To help navigate these volatile and uncertain times, we have prepared insights from our economics team and perspectives of our various teams entrusted with managing your investments.

The twin pronged attack of slumping oil prices and a significant economic downturn due to the COVID- 19 induced shutdown is proving historic in its extent and speed.

My fascination with financial markets has recently peaked to a level I last experienced around the late 1990s “dot-com” craze.

In recent years, the South African economy has not grown at the pace needed to create jobs. At the same time, public finances have been constrained, limiting the ability of government to expand its investment in economic and social development.

Johannesburg, 23 April 2026 – STANLIB Asset Management is pleased to announce the promotion of Chetan Ramlall to portfolio manager in the Systematic Solutions team, effective 1 April 2026. This appointment is aligned with STANLIB’s long-standing commitment to the development of future leaders within its investment teams.

Our final webinar for 2025 focused on J.P. Morgan Asset Management’s (JPMAM) 2026 Long-term Capital Market Assumptions with Thushka Maharaj, Senior Global Strategist, Multi-Asset Solutions at J.P. Morgan Asset Management and Marius Oberholzer, STANLIB Head of Multi-Asset.

Johannesburg, 19 November 2025 – STANLIB Asset Management is pleased to announce the promotion of Portia Boshomane to Head of Fixed Income Credit, effective 1 November 2025. This appointment reflects STANLIB’s long-standing commitment to succession planning and the development of future leaders within its investment teams.

On 17 September 2025 we hosted a a webinar with Amit Parmar, investment specialist at J.P. Morgan and Kevin Lings, STANLIB’s Chief Economist where the pair discuss the Global Select Fund’s performance over the last quarter and how the fund is positioned to deliver long-term results.

South African investors have experienced a reduction in returns from traditional balanced funds over the last few years, with the 5-year rolling return declining over time.

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A fundamental research-driven approach to active global equities management.

A fundamental research-driven approach to active global equities management.

Following a global wave of inflation and the steepest rate hiking cycle in memory, global bond yields are at levels not seen since before the Global Financial Crisis of 2007.

Cassava Technologies, a pan-African technology group, today announced a strategic investment by STANLIB Infrastructure Investments (on behalf of its managed funds) to accelerate the rapid expansion of Africa Data Centres' footprint in South Africa.

SA has come a long way since its first democratic elections in 1994, which brought the ANC into power with a 62.6% majority.

Following several years of volatility and uncertainty, 2023 promises to bring more challenges and opportunities.

As we prepare to leave the market upheavals of 2022 behind, it is time to consider what lies beyond.

2022 continues to be a challenging year for global markets as they grapple with a variety of economic challenges and a potential recession. The year has seen policymakers raising interest rates in an effort to curb inflation and supply shortages continue to hamper growth as one of the consequences of Russia’s invasion of Ukraine. Considering these and other challenges, how are global and local economies faring under continued pressure?

The strong performance of the local equity market since the lows of March 2020, relative to the lacklustre performance of the local economy, has raised investor questions.

Since COVID-19-related lockdowns became widespread globally in Q1 2020, bottlenecks have developed in various supply chains, including most commodity markets, to varying degrees. This, together with rising concern around inflationary risks driven by the combination of highly stimulative monetary and fiscal policies working together for the first time since the 1970s, has raised the question whether we have entered a new commodity super cycle.

Nicholas Naidoo, head of credit at STANLIB Credit Alternatives, and Zeyn Ismail, head of STANLIB Credit Alternatives’ investment team, recently presented their views at the Alternatives Investment Forum 2020 on how Environmental, Social and Governance (ESG). Here’s a summary of their presentation.

Traditionally, government bonds are referred to as ‘risk-free’ assets. Much of modern financial theory, and indeed, the practical day-to-day workings of financial markets, depend on such a concept.

South African investors have enjoyed phenomenal returns over the last 2-3 decades, as local equity returns outpaced those of most equity markets around the world.

On 19 March 2026, we hosted a webinar with Sylvester Kobo, Deputy Head of Fixed Income, and Alan Ehret, Head of Retail Distribution at STANLIB Asset Management. The webinar presented the outlook for fixed income markets and explored how the STANLIB Flexible Income Fund and the STANLIB Income Fund have adjusted their positioning in response to the developments in the Middle East.

At our recent roadshow, our expert economic and investment teams separated some of the signals from the static, and offered their views on what to expect from markets and asset classes in 2026.

Our final webinar for 2025 focused on J.P. Morgan Asset Management’s (JPMAM) 2026 Long-term Capital Market Assumptions with Thushka Maharaj, Senior Global Strategist, Multi-Asset Solutions at J.P. Morgan Asset Management and Marius Oberholzer, STANLIB Head of Multi-Asset.

On 17 September 2025 we hosted a a webinar with Amit Parmar, investment specialist at J.P. Morgan and Kevin Lings, STANLIB’s Chief Economist where the pair discuss the Global Select Fund’s performance over the last quarter and how the fund is positioned to deliver long-term results.

South African investors have experienced a reduction in returns from traditional balanced funds over the last few years, with the 5-year rolling return declining over time.

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On Thursday, 31 July 2025 we hosted a webinar with Karen Ward, Chief Market Strategist for EMEA at our strategic offshore investment partner J.P. Morgan Asset Management and Kevin Lings, Chief Economist at STANLIB Asset Management. The webinar explored key insights from J.P. Morgan Asset Management’s 2025 Mid-Year Investment Outlook for building resilient portfolios in uncertain times.

On 5 June 2025 we hosted a webinar with Sylvester Kobo, Deputy Head of Fixed Income, and Tarryn Sankar, Head of Credit and Investment Research at STANLIB Asset Management. The webinar presented the outlook for fixed income markets and explored how the STANLIB Flexible Income Fund is positioned to continue delivering returns.

A fundamental research-driven approach to active global equities management.

A fundamental research-driven approach to active global equities management.

Following several years of volatility and uncertainty, 2023 promises to bring more challenges and opportunities.

As we prepare to leave the market upheavals of 2022 behind, it is time to consider what lies beyond.

2022 continues to be a challenging year for global markets as they grapple with a variety of economic challenges and a potential recession. The year has seen policymakers raising interest rates in an effort to curb inflation and supply shortages continue to hamper growth as one of the consequences of Russia’s invasion of Ukraine. Considering these and other challenges, how are global and local economies faring under continued pressure?

In a world of uncertainty, high inflation, low interest rates, high liquidity and rising government debt – how can we find income growth and capital protection from our multi-asset income fund?

Russia’s invasion of Ukraine has resulted in tragedy and a significant human toll. Global commodity prices have soared posing risks to the global economic recovery.

On Tuesday, 22 February 2022, we hosted a virtual event to introduce two new offshore funds, developed by STANLIB and J.P. Morgan Asset Management, to take your offshore investing to new horizons.

Against a backdrop of cyclical recovery and vaccine hope, investors in many equity markets this year would have seen stellar returns. But where to from here?

2020 has been an extraordinary year. Now is a pertinent time to reflect on the investment landscape and how key market events and dynamics have shifted and continue to shape our investing environment. In this final webinar in our spring/summer series, STANLIB Absolute Returns’ senior portfolio managers, Warren Buhai and David McNay, shared insightful views on markets and investing across the world as we head towards the end of a year marked by unforeseen change.

South Africa’s economic growth challenges may have been amplified in 2020 with the fiscus under severe strain. The strategic direction from the country’s political leadership remains focused on unlocking much needed growth and prosperity. Among the frequently discussed growth levers for government are improved fiscal discipline, prescribed assets and the presidency’s Infrastructure Fund. Which one of these options is more likely to deliver the growth SA needs?

In this live-recorded webinar, STANLIB’s Head of Absolute Returns, Marius Oberholzer, and Senior Portfolio Manager, Peter van der Ross, give an update on their asset allocation views heading into the third quarter. The team also provide insights into what has driven their asset preferences and explaine the shift in their long-held SA bond view. They also expand on their scenario evaluation, which is key to their tactical process, and evaluate if this bounce is a “dead cat” or if their “V for victory” scenario is in play.

STANLIB’s Chief Economist, Kevin Lings, discusses the SARB’s decision to hike interest rates by 25 bps and the risk of more hikes if the US/Iran conflict continues. The SARB indicated it was concerned about second-round effects from the higher oil price and remains determined to achieve its 3% inflation goal. Kevin also analyses latest SA government revenue collection data.

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Kevin Lings, discusses Moody’s encouraging review of SA from stable to positive, although GDP growth is necessary to get a full upgrade. April inflation, which is up at 4%, reflects a sizeable increase in food prices and an adjustment to medical aid inflation, while retail sales increased modestly as consumer income came under pressure.

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We discuss the upcoming SA Reserve Bank Monetary Policy Committee meeting, when a 25 bps interest rate hike is expected, as well as latest US inflation data. US CPI in April rose 3.8% y/y – and this does not yet fully reflect the increase in gasoline prices. In the short term, though, US interest rates are expected to be held, with the risk of a hike if the oil price remains above $100/barrel.

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Our Chief Economist, Kevin Lings, focuses on the continuing strength of the US labour market, despite pressure from higher fuel prices and AI investment.

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In this podcast, STANLIB’s Chief Economist, Kevin Lings, discusses the below-forecast 2% q/q growth in US GDP in the first quarter, which indicates the economy is being largely sustained by AI investment.

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Kevin Lings, discusses the factors that influenced the surprisingly low increase in US PPI data for March, which is showing no second-round effects from tariffs and the higher oil price.

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Kevin Lings, discusses longer-term trends in US inflation and South African manufacturing.

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In this podcast, STANLIB’s chief economist, Kevin Lings, discusses the effect of the oil price on SA fuel prices, currently pointing to petrol increasing by around R6.50 a litre and diesel by R11 a litre in April.

Kevin Lings discusses the effect of the oil price on SA fuel prices, currently pointing to petrol increasing by around R6.50 a litre and diesel by R11 a litre in April. He also discusses interest rate developments around the world, where about 15 significant central banks have held meetings, and most have opted to keep rates on hold. However, they have signalled that if oil prices remain elevated and feed into broader inflationary pressures, they may be forced to hike rates.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, discusses how the war in the Middle East, now in its 17th day and going on longer than most people anticipated, continues to affect the oil price.

Kevin Lings, discusses, the latest developments in the Middle East and their effect on the oil price and disappointing US labour market data. Escalation of the Middle East conflict has resulted in a dramatic increase in the oil price, which could see petrol and diesel prices shoot up in April and cause upward inflation pressure.

Latest South African mining and manufacturing output data was disappointing, due to lingering infrastructural and policy constraints.

Latest South African mining and manufacturing output data was disappointing, due to lingering infrastructural and policy constraints.

Latest South African mining and manufacturing output data was disappointing, due to lingering infrastructural and policy constraints.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, analyses latest US ISM manufacturing and labour data. The manufacturing index increased significantly to above 50, normally indicating expansion in the sector, but Kevin believes this reflects shorter-term factors, including anticipation of greater consumer spending ahead of tax cuts. US labour data continues to soften as businesses maybe holding back on creating new jobs due to policy uncertainty and AI adoption.

Kevin Lings, Chief Economist, discusses the decisions by the US and SA central banks to hold interest rates unchanged and the likelihood of future rate cuts.

In a separate podcast, our Chief Economist, Kevin Lings, discusses SA’s inflation and retail sales data in more detail and its significance for GDP growth and investment.

Kevin Lings, discusses US inflation, which is under control, and the Chinese economy's reliance on growing exports.

Kevin Lings discusses both global and domestic US policy trends, and why SA's manufacturing output continues to struggle.

Kevin Lings discusses SA’s sustainable economic growth rate and the US Federal Reserve’s likely response to signs of tariff pressure on small businesses.

Kevin Lings explores lackluster US retail sales growth and what’s driving SA’s private sector credit growth.

Kevin Lings discusses the factors behind the SARB’s rate cut and how the latest US jobs data may be influencing the Fed’s decision-making.

Kevin Lings discusses a potential resolution to the shutdown and SA’s upcoming Medium-Term Budget Policy Statement.

Kevin Lings discusses a potential resolution to the shutdown and SA’s upcoming Medium-Term Budget Policy Statement.

Kevin Lings discusses the latest US interest rate cut and what will follow, as well as SA’s encouraging government revenue and expenditure trends.

In a separate podcast, our Chief Economist, Kevin Lings, discusses US and South African inflation trends and the implications for interest rates.

Our focus is on the risk of a US government shutdown, hawkish comments from US Federal Reserve officials and a decline in South African consumer confidence.

Our focus is on the risk of a US government shutdown, hawkish comments from US Federal Reserve officials and a decline in South African consumer confidence.

Kevin Lings focuses on the US government shutdown, and South African government revenue and expenditure for August.

Our focus is on the risk of a US government shutdown, hawkish comments from US Federal Reserve officials and a decline in South African consumer confidence.

Kevin Lings, examines SA's outlook for growth, inflation and interest rates this year and continuing uncertainty in global trade.

Kevin explores in more depth SA's Q2 2025 GDP performance and the factors that are likely to influence the next US interest rate decision.

Kevin analyses the US jobs data in more detail and considers whether President Trump's tariff hikes are likely to stimulate US manufacturing

Kevin discusses government revenue and expenditure data for July,

Kevin discusses the effect on US jobs, inflation and interest rates of significantly higher import tariffs.

Kevin discusses the effect on US jobs, inflation and interest rates of significantly higher import tariffs.

Kevin discusses the effect on US jobs, inflation and interest rates of significantly higher import tariffs.

Kevin discusses what is driving SA's inflation upwards and the implications of US tariff announcements for the economy.

Kevin discusses what is driving SA's inflation upwards and the implications of US tariff announcements for the economy.

Kevin discusses continuing growth in the Chinese economy and the impact of import tariffs on US inflation and interest rates.

Kevin discusses fresh uncertainty triggered by Trump's tariff threats and the possible effect on US interest rates.

Kevin discusses the underlying softer trend in private sector job creation in the US and what could be causing it.

The US S&P 500 gained 1.5%, after strengthening by 1.9% in the prior week. Year-to-date the S&P 500 is up only 2%, which is obviously very disappointing - especially considering that a month after President Donald Trump was inaugurated (and before his policy initiatives started to focus on import tariffs) the S&P 500 had gained 4.5%.

The US S&P 500 gained 1.5%, after strengthening by 1.9% in the prior week. Year-to-date the S&P 500 is up only 2%, which is obviously very disappointing - especially considering that a month after President Donald Trump was inaugurated (and before his policy initiatives started to focus on import tariffs) the S&P 500 had gained 4.5%.

The US S&P 500 gained 1.5%, after strengthening by 1.9% in the prior week. Year-to-date the S&P 500 is up only 2%, which is obviously very disappointing - especially considering that a month after President Donald Trump was inaugurated (and before his policy initiatives started to focus on import tariffs) the S&P 500 had gained 4.5%.

Kevin Lings, examines SA’s outlook for growth, inflation and interest rates this year and continuing uncertainty in global trade.

Kevin Lings discusses South African inflation and interest rates and some of the implications of the US tax bill.

STANLIB Asset Management, through STANLIB Infrastructure Investments, has acquired a significant minority equity interest in Traxtion, a leading private rail operator, as part of a R1.5 billion funding round to expand freight rail capacity across South Africa and the broader region.

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The Financial Sector Conduct Authority (FSCA) and Prudential Authority (PA) draft on material information technology (IT) and cyber event reporting has begun an important conversation. Beyond compliance, it highlights a growing area of risk: third-party providers. Financial institutions increasingly rely on cloud platforms, fintech partners, and outsourced services. A breach or disruption at one of these providers could ripple across the institution and, if the draft is finalised as proposed, may trigger regulatory reporting obligations.

Cassava Technologies, a pan-African technology group, today announced a strategic investment by STANLIB Infrastructure Investments (on behalf of its managed funds) to accelerate the rapid expansion of Africa Data Centres' footprint in South Africa.

In the fourth episode of our Corporate Conversations series, Eulali Gouws, Head of Money Market at STANLIB Asset Management, talks briefly about how bond and money market participants should be adjusting benchmark rates from JIBAR to ZARONIA, for both legacy and future contracts.

STANLIB Infrastructure Fund II, which focuses on a diverse array of infrastructure-related investments: including renewable energy, digital infrastructure, transportation, and logistics—has entered into an agreement with Scatec ASA to acquire additional interests in the Kalkbult, Linde, and Dreunberg solar power plants. These plants collectively have a total capacity of 190 MW, with the acquisition valued at R921 million.

Welcome to the STANLIB Corporate Conversations Podcast Series - our newest resource designed to offer timely, expert insights into the factors shaping financial and fixed income markets.

In this episode, Charlene Klöhn, Head of Corporate Cash Solutions at STANLIB is joined by Kevin Lings, STANLIB Chief Economist, to unpack the shifting dynamics in the money market and enhanced yield space.

Welcome to the STANLIB Corporate Conversations Podcast Series - our newest resource designed to offer timely, expert insights into the forces shaping financial and fixed income markets. Our first episode focuses on a significant development in South Africa's financial landscape - the transition from the long-standing Johannesburg Interbank Average Rate (JIBAR) to the South African Rand Overnight Index Average, better known as ZARONIA.

In this short and informative episode, Eulali Gouws, STANLIB Head of Money Market, outlines the key timelines for the transition, which is set to take place in December 2026. She also explores the implications of this shift for money market and fixed income funds.

SA’s financial markets are undergoing a foundational transformation as the country transitions from the Johannesburg Interbank Average Rate (JIBAR) to the South African Rand Overnight Index Average (ZARONIA). This shift, part of a global movement toward more transparent and transaction-based reference rates, is reshaping how interest rates are calculated, contracts are structured, and risk is managed across the financial system.

On Tuesday, 22 February 2022, we hosted a virtual event to introduce two new offshore funds, developed by STANLIB and J.P. Morgan Asset Management, to take your offshore investing to new horizons.

STANLIB announced today that it has forged a powerful strategic partnership with the highly-recognised global asset management group, J.P. Morgan Asset Management (JPMAM), which will have a number of direct benefits for clients.

The STANLIB Absolute Returns team will be renamed the Multi-Strategy investment team.

The Absolute Return team holds a positive outlook on South African banks, based on the following factors which we unpack in this article written by Vaughan Henkel.

The coronavirus pandemic has generated a new level of co-ordination between central banks and governments, with potentially profound consequences for the economy and markets.

In February 2020, we assessed nominal South African Government Bonds (SAGBs) through our six-lens Tactical Asset Allocation (TAA) framework.

In this article, Marius Oberholzer, Head of STANLIB's Absolute Returns team, provides a breakdown of their 2021 tactical asset allocation and thinking.

Relying solely on “average” correlations between assets can leave the investor served with measly gruel when they most need nourishment.

STANLIB Credit Alternatives virtually launched the new STANLIB Khanyisa Impact Investment Fund today (30 April 2020) that aims to merge financial returns with impactful development for the country. View the live stream event below.

In this episode of TheMore You Know, Jeremy Maggs interviews STANLIB Asset Management CEO, DerrickMsibi, who argues that Africa has the potential to attract capital more broadlythan only to the JSE, which many investors mistakenly treat as a proxy for theentire continent. He proposes three key policy moves that would help to movethe continent onto the investment radar.

Understanding how duration and interest rate risk influence fixed income investments is key to building resilient portfolios that align with your long-term financial goals.‍

Social impact funds are transforming investing in Africa by combining financial returns with measurable social and environmental benefits. As sectors like renewable energy, fintech, and small business development thrive, these funds offer investors a chance to align profit with purpose while driving lasting change.

Infrastructure offers investors a rare blend of stability, inflation protection, and long-term growth potential. With consistent cash flows, low market correlation, and diversification benefits, is a strategic asset class for building resilient portfolios.

Building a legacy takes more than wealth - it requires strategy, foresight, and the right guidance. STANLIB helps individuals and families preserve, grow, and transfer assets with purpose, ensuring financial security for generations to come.

Great asset managers deliver consistent, client-focused strategies tailored to long-term financial goals.

Asset managers play a vital role in every stage of the investment value chain, guiding performance and strategy to help investors achieve long-term goals.

Flexible income funds offer a smart balance between steady income and growth, making them ideal for conservative or income-seeking investors.

Infrastructure investments can help protect portfolios from inflation by offering stable, inflation-linked income and long-term capital preservation.

Striking the right balance between credit quality and yield is key to building a resilient, income-generating fixed income portfolio - especially in today's evolving market.

Understanding how duration and interest rate risk influence fixed income investments is key to building resilient portfolios that align with your long-term financial goals.

Public-private partnerships (PPPs) offer investors a compelling way to access long-term, stable returns through essential infrastructure development. By leveraging private capital and government collaboration, PPPs unlock sustainable economic growth while managing risk effectively.

A proven track record and robust investment philosophy are key to achieving sustainable long-term investment success.

Local infrastructure funds offer investors a unique opportunity to support South Africa's development while achieving long-term, stable returns.

An enhanced multi-style fund offers growth-focused investors a balanced, adaptable solution that manages risk while maximising long-term returns.

A flexible income fund provides steady income with the agility to adapt to changing market conditions, helping investors manage risk and diversify returns.

A flexible income fund enhances portfolio stability and yield by adapting to changing market conditions through diversified asset allocation.

ESG investing is transforming markets by aligning financial goals with sustainability, accountability, and long-term value creation.