On Tuesday (6 May), Anchor hosted its quarterly Where The Money Will Be Made (WTMWBM) webinar, where we discussed our latest strategy report, The Navigator – Anchor’s Strategy and Asset Allocation 2Q25.
The webinar provided insights into Anchor’s thoughts on various asset classes locally and abroad and our near-term market outlook. With the turmoil in global equity markets following US President Donald Trump’s tariff announcement on 2 April being a significant topic of conversation, speakers also gave their views on the impact of tariffs in various market sectors.
Anchor CEO and Co-CIO Peter Armitage introduced and hosted the webinar. Peter gave an overview of Anchor’s current views on local and global market conditions and our outlook for the various asset classes in 2Q25 (Anchor has taken a primarily neutral stance in our asset allocation in light of the extreme market volatility brought about by Trump’s tariff announcement).
Credo CIO Deon Gouws shared invaluable insights on investing during uncertain times, particularly in the context of Trump’s implementation of tariffs. He detailed the whiplash-inducing on-again/off-again announcements that followed the initial promulgation and the uncertainty and confusion brought about by the tariffs and their continuing impact on global markets.
Anchor Fund Manager Mike Gresty discussed Anchor’s house view on SA equities, noting that we have lowered our positive stance to neutral following Trump’s tariff announcements and fractures within SA’s GNU after Treasury’s bungled attempt at a VAT hike. Mike asked where the growth opportunities lie on the JSE, highlighting several domestic equity investment ideas.
Anchor Co-CIO and Head of Fixed Income Nolan Wapenaar looked at key trends developing from implementing tariffs, including policy uncertainty, isolationism, de-globalisation, and how bond markets have reacted. He also discussed the impact of tariffs on the US dollar and the rand, and why he expects two SA rate cuts this year.
Anchor Global Equity Analyst James Bennet looked at how SA investors should approach global investing by discussing the broad principles of stock picking, how overpaying for an asset typically leads to bad outcomes, and why buying individual stocks in global markets can be daunting. In his presentation, James highlighted specific stock ideas including Alphabet, Fortinet, O’Reilly Auto Parts, Tesla, and Shopify.
Following the presentations, the Anchor team answered questions from attendees and delved deeper into the topics discussed.
Should you wish to find out how Anchor can assist you in implementing the thoughts and ideas discussed in this webinar, please contact your wealth manager or email invest@anchorcapital.co.za
