WATCH: Stock pick — Reinet

Rowan Williams from Nitrogen Fund Managers chose Reinet as his stock pick of the day.

“We like Reinet, it’s a little bit boring and I guess very safe. We think the rand has appreciated to a level where it’s closer to fair value and there has been a lot of positive political development. Reinet trades at a 42% discount to NAV, a quality asset and it’s weaned itself off of its smoking habit.”