Weekly Thoughts 02 August 2013

I’ve listened to two asset managers over the past 10 days here in Pietermaritzburg. Coronation and then two of the international guys from Marriott, who had come all the way from the Isle of Man to visit us. The sentiment from both companies is still that of greater value being found in the shares of international (non-SA) companies. The Marriott team were very positive on consumer companies like Nestle, Johnson & Johnson, BAT, Vodafone, General Electric… etc. These companies continue to produce good yields with good dividend growth forecasts. The two factors to look for. Capital growth will thereafter take care of itself, and is anyway, largely irrelevant for an income dependent investor.

Always good to listen to the asset managers directly.