While markets may be highly efficient weighing machines in the long run, they can also be highly irrational voting machines in the short run. Sentiment is powerful - and can sway market directions and human behaviour for far longer than you’d expect. While savvy investors know that one way to investment success is to buy quality investments at a wide margin of safety, this is easier said than done.
This is why you need to partner with differentiated thinkers, who have a proven track record of achieving investment success in the long run. With the era of “easy money” having come to an end, PSG believes a market cycle change is underway. During these transitionary periods, the best investment opportunities are seldom the obvious ones, or the ones that have worked in the past. It is more important than ever to have an investment manager on your side that can identify and exploit the investment opportunities that lie ahead – as the winning investments of the future are likely to look very different to those of the past.
PSG Asset Management manages a suite of rand-denominated local unit trusts, and offers access to global markets through both rand-denominated and foreign currency denominated global funds. The company’s long-term track record affirms the success of its proven process; and offers important diversification and alpha generation benefits to patient investors, and as part of a blended client portfolio. PSG portfolios are also good options for retail investors who can take a longer-term approach to ride out the occasional volatility that is part and parcel of active management.
PSG Asset Management believes that the price you pay for an investment is extremely important. Therefore, its 3M approach combines a preference for attractively priced investments (PSG’s Margin of safety) with a rigorous quality overlay (assessment of Moat and Management).
The firm follows a bottom-up, research driven and globally integrated investment process that seeks to find the best possible investment opportunities for its clients.
PSG Asset Management’s research teams create carefully curated buylists across all asset classes, from which its fund managers construct portfolios within the parameters of the specific mandates in the firm’s focused fund range.
As benchmark-agnostic, bottom-up stock pickers, PSG contructs portfolios on a globally integrated basis that can look very different from the rest of the pack - offering its clients valuable diversification benefits. This team-based approach ensures consistent process implementation over time.
By focusing on identifying quality investments that are trading at a wide margin of safety, PSG believes it can offer its clients the best chance of successfully growing their wealth in the long run.
* PSG Asset Management (Pty) Ltd is an authorised financial services provider. FSP 29524. For more information on all funds administered on the PSG Collective Investments (RF) Limited scheme or more information on the awards, visit www.psg.co.za/asset-management