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QUARTERLY COMMENT – Q4 2026

In our last letter we noted that higher energy prices had the potential to feed into inflation and pressure growth, and that central banks were reassessing the outlook. Over the summer, that risk has moved from the margins to the centre of the investment debate.

Oil has spiked again; central banks have moved from patience to action and government bond yields have broken through levels not seen in more than two decades. Yet corporate earnings continue to deliver. How concerned should investors be?

Our Chief Investment Officer, Rob Cloete, comments on recent market conditions in our latest quarterly CIO letter.

Download here to read the full article.

Our investment strategy committee, which consists of seasoned strategists and investment managers, meets regularly to review asset allocation, geographical spread, sector preferences and key global market drivers and our economist produces research and views on global economies which complement this process.

Our quarterly report presents our views on the world economic outlook and equity, fixed income and foreign exchange markets. Please click the link to download.

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