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.

The South African Rand has had a relatively volatile week reacting negatively on the back of the Gordhan vs Hawks saga, and then pulling back robustly after the Fed’s Janet Yellen announced that US rates will remain unchanged. USD/ZAR trading heavily between R15.52 and R16.23. The VIX (volatility index) has dropped to a level of 14.99, suggesting that investors seem to be slightly more confident with current markets. The London Stock Exchange and Deutsche Boerse have agreed to a mega-merger, whereby the DB will retain 54.4% shareholding upon completion. Sibanye Gold to buy out Aquarius Platinum. Nigeria’s inflation rises 11.4% during the month of February. Dangote goes into the tomato paste business. Current Credit Ratings outlook on SA: Moody’s (Negative); Fitch (Stable); S&P (Negative).

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