Drikus Combrink from Caipicraft chose Equiniti Group as his stock pick of the day and Alex Duys from Umthombo Wealth chose Old Mutual. Equiniti Group was unbundled from Lloyds Bank in 2007 and has added a few small businesses since then. “They have quite astutely grown their earnings over time and in the last year they purchased Wells Fargo’s share registry, so now they have entered the US and are trading at a forward PE [price-earnings ratio] of around 15 — not expensive for a company that almost never loses any clients,” said Combrink. Duys said that Old Mutual was a short-term valuation-driven stock pick because SA Inc had been under pressure but the “Ramaphoria” had created an opportunity for Old Mutual and it “is not a bad place to ‘hide’ for the time being”.
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