Peregrine doesn’t see SA recovery within next 12 months
However, the wealth manager’s assets under management grew by 15% due to subsidiary, Citadel
Wealth and asset manager Peregrine Holdings has said it doesn’t expect the economy to recover in the next 12 months as the country faces one of its largest economic disruptions as result of the coronavirus pandemic.
“I cannot see the next 12 months being easy. We’ve got the government under pressure in terms of budgets; we’ve got the SA economy under severe pressure; we’ve got the world economy under severe pressure; and on top of all of that we’ve got Covid-19,” CEO Robert Katz told Business Day after the company issued its annual earnings report on Tuesday.