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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
The United Kingdom voted to leave the European Union after the referendum ended 52% in favour of “leave” and 48% “remain”. $3.6 trillion was the number erased from global equity markets after Friday and Monday’s selloffs. Credit ratings for the U.K. were revised downward by Moodies (AA+ to AA) and S&P (AAA to AA), respectively. The U.K. net lending to individuals figure up (MoM) to £4.3 billion (May) from £1.6 billion (April). Consumer confidence has risen in the US, but has dropped in Italy. The South African rand has shown some strength over the last few volatile days, pulling back to R14.77 from R15.70 on Friday last week. Foreigners are net buyers of South African equities, now totalling R17.687 billion year to date.

Read more in the document below:

The Wealth Inequality Problem | Cannon Asset Managers research



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