Alec Hogg: An SA investment proposition: the phenomenon called Easy Equities
In a classic example of a missed opportunity, the share price of Purple Group caught fire earlier this year, trebling from a three year spell in the share market doldrums (see graph below). We should all be kicking ourselves. This is one of SA's most innovative growth companies. Recognition by Mr Market is long overdue.
Purple possesses an exciting business model, a string of international awards confirming its product is one of a few "world firsts" born in South Africa. The company's single-minded focus is to make share market investing affordable through low costs and fractional ownership of shares.
From numerous conversations we had since Easy's founding in 2014, among those bemused by Mr Market's long neglect is the group's CEO Charles Savage. With a market cap of R650m; more than 200 000 investment accounts opened and almost R16bn in assets under management, that's now well in the past.
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