Camissa Asset Management, which oversees R45bn in assets, has broken ranks with some of its larger peers by dismissing the investment case for SA’s big four banks, on the grounds that the cosy market dominance they have enjoyed for years is in the process of being upended by more nimble digital disrupters.

The Cape Town money manager, which announced its rebrand from Kagiso Asset Management in February, outlined downside risks to the likes of FirstRand, Standard Bank, Absa and Nedbank in an investment presentation on Tuesday...

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