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.

Local consumer inflation rose slightly to 4 percent last month from 3.9 percent in February, the first rise in six months. Economists predict this as the start of an upward trend as the country foresees rand weakness, electricity tariff hikes and higher food prices.

The Nasdaq Composite climbed 0.4 percent to close at a record for the first time in 15 years, topping its dot-com-era high as U.S. stocks shrugged off mixed earnings and disappointing manufacturing data from across the globe.

This week, manufacturing data from all around the world disappointed. Japan, China, France, Germany and the U.S. all had PMI reports out that missed expectations. Japan, China and France had readings below 50, signifying contraction. The rand is trading notably softer at R12.10/$ as the economy fears a slowdown in China and other trading partners.

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