I am deeply concerned about the Allan Gray Equity Fund investment in Net 1. How could they decide to stay invested in a share of a company that has an invalid contract with the government? Please do not give me "a financial man in a suit and tie" response. I want a human response — with some feeling and social conscience. As an investor in Allan Gray products, I am disappointed in the company and, in particular, the manner in which it responded to this matter. It should either have fulfilled a far more rigorous oversight as a major shareholder or (preferably) it should have sold the shares as soon as it became apparent that the contract with Net 1 subsidiary CPS was invalid — even if CPS was not the cause of the invalidity. Furthermore, I find the behaviour of Net 1’s CEO reprehensible — there is a crisis and he is playing to the gallery in an uncaring and arrogant manner. All the more reason to be shot of this investment. I cannot see how remaining in this investment aligns with th...
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