As 2024 ends, Shane Tremeer, our CEO, shares his reflections on a year of surprises and progress. South Africa defied expectations, and at Denker Capital, we celebrated milestones while delivering results for our investors. Here’s a look at the highlights.
2024 has been a year of surprises and resilience.
Who’d have thought, anytime between January and May this year, that in the first week of December, the broader JSE would be up 13% year-to-date, and the rand would have strengthened by 6% against the Euro and almost 8% against the Australian dollar? We certainly live in interesting times, and for the umpteenth time in our history, South Africa has defied the odds and refused to roll over as envisaged – and forecast – by most commentators.
For the first time in more than a decade, I am cautiously optimistic that we are on the cusp of a long overdue cycle of economic growth and significantly stronger markets. Why? Because periods of (relative) political stability, declining inflation and interest rates, and undervalued assets, invariably lead to increased optimism and investment, which in turn leads to economic growth, earnings growth and asset price growth. As we live in the real world, on the southern tip of Africa, many variables could still affect this scenario. However, we are still in a much better position than we have been for a number of years.
It’s been a good year at Denker Capital, with some highlights worth mentioning:
- Our investment team once again generated impressive returns for investors.
- The Denker SCI* Balanced Fund was named Best Aggressive Allocation Fund at the Morningstar Awards in March.
- We added a new product to our investment offering, a JSE-listed actively managed certificate (AMC). The Denker Global Opportunities Portfolio was launched to capitalise on opportunities in small- and mid-cap equities in developed markets.
- We celebrated the 20th anniversaries of our two global equity funds, the Denker Global Equity Fund and the Denker Global Financial Fund, marking two decades of managing global equity funds from Cape Town.
- For the third year in a row, we’ve attracted significantly more client assets across our fund range than suffered withdrawals.
Our business is going from strength to strength, and we look forward to 2025 and the opportunities it’ll bring.
To our valued investors and our loyal intermediaries – thank you for the support this year. We sincerely appreciate it.
Wishing you and your loved ones a joyous holiday season and a happy and successful 2025.
Regards
Shane Tremeer
Please click here if you’d like to see our fund performance as at the end of November 2024.
Disclaimer:
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.
Source of award: Morningstar, 14 March 2024. The awards are determined by a combination of risk-adjusted medium- to long-term performance track records and Morningstar’s forward-looking rating for funds, the Morningstar Medalist Rating™ including its Parent pillar component. The Medalist Rating is set on a five-tier scale running from Gold, Silver, Bronze, Neutral and Negative at the share class level. Please visit go.morningstar.com/Awards for more detail on the methodology. Morningstar Awards 2024 (c). Morningstar, Inc. All Rights Reserved. Awarded to Denker Sanlam Collective Investments Balanced Fund for Best Aggressive Allocation Fund, South Africa.
