Bloomberg – 25 March 2011
Robert Brand and Mike Cohen
…Aeon Investment Management considers South African stocks as fairly value, chief investment officer Asief Mohamed said. Its recommended shares include Anglo American, Impala, MTN, AngloGold Ashanti Ltd., Africa’s largest gold producer, and Capitec Bank Holdings Ltd., a provider of loans not backed by assets. The Cape Town-based company oversees about 800 million rand in assets. “ We prefer an exposure to equities in the current environment” rather than bonds, Mohamed said in an interview in Cape Town today. “We are maintaining our positions. There is nothing that’s pushing us” to disinvest from any particular industry, he said. The ongoing expansion of the Chinese and Indian economies should continue to support the price of platinum, iron ore and other metals, Mohammed said.