Sanlam Investment Management (SIM) is maintaining the overweight position that it took in SA banks at the height of the Covid-19 market mayhem in 2020, with Standard Bank, Absa and Nedbank its preferred selections.

While SIM initially also built an overweight position in FirstRand, SA’s biggest financial services company by market value and owner of FNB, it said the upside it first saw in the lender, when it also began buying Absa and Nedbank shares in the third quarter of 2020, has already played out...

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