A year-end message from our CEO

Shane Tremeer

As we wrap up 2023, we thank our clients and intermediaries for the continued support and wish everyone a wonderful holiday season and a prosperous new year.


2023… done and dusted.

Writing this year-end note, I think a little of the movie ‘Groundhog Day’, where the protagonist experiences the same day, each and every day. In December 2023 it seems as if the main themes from 2022, namely market volatility, regional wars and increased geopolitical risks have become recurring themes.

While we all hope for a more predictable and stable 2024, it would be prudent to prepare for some political theatre, with SA, the US, Namibia, Botswana and Mexico, among other nations, holding general elections. On the positive side, there are signs that global inflation and the resulting multi-decade interest rate highs have peaked, and we should start seeing some respite in 2024 and 2025. This would be good for markets and, despite the inherent risks in South Africa, we see real opportunities across a number of asset classes and sectors.

Our investment team has delivered on its mandate across the fund range, and I’m extremely pleased with the returns we’ve managed to generate for our investors.

And, for the second year in a row, we’ve attracted more client assets than suffered withdrawals. We see this as a very encouraging sign and are looking forward to 2024, and the opportunities it’ll bring.

Thank you to our existing clients, to our many new clients, and to our loyal intermediaries for the continued support.

We wish you and your families a peaceful and safe holiday season, and a happy and prosperous new year.


Shane Tremeer

Please click here for a performance summary as at the end of November 2023.


The opinions expressed above are those of the participants and do not necessarily represent those of Denker Capital. This information does not take the circumstances of a particular person or entity into account and is not advice in relation to an investment. Please do not rely on any information without appropriate advice from an independent financial adviser. The value of investments may go down as well as up, and past performance is not a guide to future performance. Denker Capital is an authorised financial services provider in South Africa (FSP number 47075). The opinions expressed are not guaranteed to occur.

This information does not constitute financial advice as contemplated in terms of the South African Financial Advisory and Intermediary Services Act of 2002 (FAIS Act). Use or rely on this information at your own risk. Independent professional financial advice should always be sought before making an investment decision as not all investments are suitable for all investors.





About the author

  • Shane Tremeer

    Shane is the CEO of Denker Capital. His investment career started in 1999 when he joined Sanlam Personal Portfolios. In 2005 he was appointed as Head of Distribution at Innofin, which was then part of the Sanlam Group, and in 2008 became CEO of Distribution at Sanlam Investments. In 2012 he joined Sanlam Private Wealth as Director of Branch Operations and was Managing Director of Sanlam Private Wealth (Africa) from 2016 to 2019. Shane joined Denker Capital in July 2019.

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