Avior Financials | Coronation | JSE trading stats | Insurance valuations update
• Coronation generated improved returns in 2019 as most funds generated positive one-year alpha. We estimate quarterly retail net outflows of R4bn (H2 '19 retail outflows: R6bn).• The JSE Ltd's trading statistics (to 27 Dec ‘19) show a 3.9% y/y increase in cash equity value traded in H2 '19.
• In 2019, A2X's value traded was R2.2bn (JSE value traded: R5.1tril). Until more brokers are actively trading on A2X, we expect trading activity to remain muted.
• The SA insurance sector has now underperformed the JSE All Share Index on a one, three and five-year view. Our top picks in the sector are OMU and DSY.
Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.
Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.
Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.
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