WATCH: Stock Picks — Public Storage and Prosus
Nesan Nair from Sasfin Securities chose Public Storage, and Deryck Janse van Rensburg from Anchor Securities chose Prosus
Nesan Nair from Sasfin Securities chose Public Storage as his stock pick of the day, and Deryck Janse van Rensburg from Anchor Securities chose Prosus
Nair said: "It's a public storage company, and it plays to the theme of people living in smaller units [who have] to pack their winter stuff away for summer and vice versa. It seems to me that as we move into more and more urbanisation, population grows especially around cities and that companies like this that offer you the ability not to throw your stuff away but to store them for when you need them, is going to become more and more popular, so it's one of the ones we like."
Janse van Rensburg said: "I'm going for process tonight: it's obviously fallen out of favour since the recent unbundling or listing out of Naspers and I've been monitoring the discount to net asset value, obviously overlaying that with Naspers. So I think we have seen a little bit of a partial tick up in Tencent and that discount to net asset value in Prosus has actually gotten to an attractive level at the moment that I am prepared to pay for.
“Again, you're making a call on Tencent so sitting around HK$330, I still think that there's a lot of growth potential out of Tencent and my way to pay it would be through Prosus and obviously getting some of the periphery offshore assets inside of their Prosus listing.
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