Look past social unrest to future realities
ne of the great investment mysteries of 2015 appears to have been at least partly explained.
Last year our sister publication Financial Mail picked up that two influential institutional investors, Coronation Fund Managers and Investec Asset Management, had sold out of construction and engineering group Esor. At roughly the same time two significant investors emerged in the form of Kamal Parabhu Natha — a mystery investor who speaks for nearly a
Othird of Esor — and former empowerment investment pioneer Marcel Golding, who owns about 6% of the company.
At face value it appeared Natha and Golding were rushing in where institutional investors fear to tread — which hardly reinforced the already brittle sentiment for struggling Esor.
But it seems the two are seeing some early rewards now that Esor has fashioned a comeback in the year to end February.
The process of cutting excess