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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
South African rand having a tough week with bids chasing the offers up towards the R16.00 mark. Some underlying factors may be attributed to the controversies around Finance Minister, Pravin Gordhan’s, SARS probe and an unstable parliamentary meeting which happened earlier in the week. CPI numbers for SA came in at 6.2% YoY and March retail sales numbers coming in at 2.8%, slightly weaker than the expected 3.6%. New vehicle sales down 10.15% YoY with used vehicle sales increasing by 5.61% in South Africa. SA repo rate remained at 7%. Brent crude and WTI oil also had a run this week almost hitting $49 and $50 respectively a barrel. Prices now having pulled back to the mid $47 level. .

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World Life Expectancy Map | Cannon Asset Managers research



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