WATCH: Stock pick — Ninety One

Graeme Franck from PSG Wealth Sandton Grayston chose Ninety One as his stock pick of the day.

“I’m going to go for a Ninety One, it’s a really well diversified business, 60% of earnings come from offshore, the other 40% from SA. I think more importantly ... if you divide its market capital asset under management, which is a broad measure for these type of companies, it’s trading at 1.2%-1.3%, whereas most European peers are taking between 1.9% and 2%.”