Finweek English Edition - - INVESTMENT -

Craig Pheif­fer the Head of Pri­vate Client As­set Man­age­ment at Absa In­vest­ments be­lieves that the group has done a lot of things right in the last few years oper­a­tionally but be­lieves re­cent price ac­tion fairly ref lects the prospects for the group. In a note to clients Pheif­fer said: “Over­all the head­line re­sults were bet­ter than the mar­ket ex­pected and the share price re­acted pos­i­tively. Af­ter the first day’s trade in March the share was trad­ing at 7751c, 25% higher than its clos­ing price of 6219c on 31 De­cem­ber 2012. Dis­cov­ery is the best-per­form­ing counter in our port­fo­lios for the year to date and the price looks full in the short term. We will con­tinue to mon­i­tor prospects (as well as all of the ac­tu­ar­ial as­sump­tions), al­ways keep­ing the longer-term pic­ture in mind.”

*Fin­week is a Me­dia24 publi­ca­tion, which is a sub­sidiary of Naspers.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.