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Cannon Asset Managers is a licensed asset management business based in South Africa that manages domestic assets as well as global investment portfolios. Since our formation we have successfully applied the philosophy and principles of value investing, an investment management approach that consistently has demonstrated a clear advantage over other philosophies.  Consequently, over the years Cannon Asset Managers has developed a reputation for successfully delivering portfolio results to our clients who include companies, pension funds, insurance companies, trusts, high net worth individuals and retail investors.

Highlights
The South African Reserve Bank left interest rates unchanged at 5.75%. "The lower inflation path gives us some room to pause in this process (hiking rates)," Bank governor Lesetja Kganyago said. As the country benefits from a low oil price, rates are widely expected to be kept on hold for the year. The Reserve Bank now expects consumer inflation to average 3.8% this year, compared with the 5.3% forecast previously, and to remain within the 3%-6% target band for the next two years.

Local Producer price inflation slowed to 5.8% last month from 6.5% in November. Slowing international oil, food and agricultural crop prices are the main reason for the improvement in SA’s inflation outlook.

South Africa's private sector credit demand grew 8.52% year-on-year in December, down from 9.13% in November. This was slightly below the 9.3% expected figure and once again illustrates the challenging environment within the economy.


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