Time to look at value again? Asset manager Piet Viljoen back on form

Piet Viljoen built a reputation as an asset management rock star at Investec before starting his own firm – to deal with his mid-life crisis, he told me with a wry smile at the time he took the plunge into entrepreneurship by launching RECM. Viljoen has stubbornly stuck to his value style of stock selection, even though it has underperformed for a prolonged period and cost him clients.

In March, RECM merged with Counterpoint Asset Management, whose chief investment officer is Viljoen’s former Investec colleague Sam Houlie – also one of the top-performing value-oriented investment managers in the 2000s.

This year, Viljoen’s returns have started to sparkle again – a development that has prompted a rethink on his funds by Magnus Heystek, the respected independent financial advisor, of Brenthurst Wealth Management. Heystek and BizNews founder Alec Hogg discuss how Viljoen’s portfolio is delivering vastly improved returns, in this week’s Inside Investing podcast.

Also on Inside Investing: Catch up, here on Spotify, on how Bright Light Solar has created a 12J opportunity for BizNews community members who like the appeal of generating superior returns from renewable energy alternatives in SA. 12J investments have tax deduction opportunities for all taxpayers. And, 4Sight CEO Tertius Zitzke tells how Covid-19 has been his company’s best sales rep.

PS: This chapter (9) of  Cyril Ramaphosa – The Road to Presidential Power by Anthony Butler is the most frequently downloaded of the book read by BizNews founder Alec Hogg. For good reason: you’ll end up realising that those who under-estimate CR do so at their peril. Some great negotiating tips for the rest of us, too.

The full audio book is free for BizNews community members and well worth a listen as you put your feet up this festive season and prepare for the next year. Start the book here.