Nic Norman-Smith from Lentus Asset Management chose Reinet Investments as his stock pick of the day, while Jean Pierre Verster from Fairtree Capital chose Platinum Asset Management. Norman-Smith said Reinet was an entry point into British American Tobacco (BAT). Rand performance remained strong “leaving the rand hedge capabilities a lot stronger when playing in this space. A lot of negative movement has been seen in global tobacco stocks as interest rates go up and people who have bought them for a bond proxy are selling out,” he said. Platinum Asset Management is an Australian company started by South African Kerr Neilson in 1994. “Being a star-rated fund manager in Australia the company’s share price declined when Neilson announced his retirement in December but the company continues to perform, showing a well-managed, well-maintained business,” said Verster. OR LISTEN TO THE FULL SHOW:
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