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.

South Africa’s trade balance improved dramatically from a revised R5.27bn deficit in November to a R6.8bn surplus in December. This improvement is largely due to the lower oil price and fuels optimism that the benefit may help narrow the current account deficit this year.

Kagiso purchasing managers index (PMI) rose four points to 54.2 last month, supported by a pick-up in business activity, new sales orders and seasonal factors. Exports of locally built cars shot up 84.4% last month, compared to January last year.

Eskom, the country’s electricity supplier, may very well limit the positive effect of lower oil prices as load shedding continues to cripple production in the country. It is expected to take more than 5 000MW out of service on planned maintenance, which will likely hurt local businesses.

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