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 rand strengthened against all major currencies over the last week, even pulling back to R14.18 against the US dollar. The JSE announced and implemented its move to T-plus-3 from t-plus-5. Trades will now settle in three days vs the archaic five day turnaround time. US unemployment figures for June came out at 4.9%, slightly weaker than the previous month’s 4.7%. The S&P 500 and Dow Jones indices both hit record highs off the back of the robust rebound after Brexit. Theresa May has been selected as the U.K’s new prime minister. She is the second female prime minister since Margaret Thatcher. More than 80 people have been killed in Nice, France, after a terrorist ploughed a truck through a crowd on Bastille Day.

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The Connected Car | Cannon Asset Managers research

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