Report
David Talpert ...
  • Harry Botha
  • Warwick Bam

Avior Financials | SA credit growth | Liberty results | Unit trust performance | JSE trading stats

• SA private sector credit growth remains ahead of nominal GDP at 6.9% y/y. In line with the trend YTD, Corporate advances growth (+7.5% y/y) exceeds retail advances growth (+6.2% y/y).
• Liberty released an encouraging set of H1'19 results with a 14% y/y rise in normalised operating earnings.
• We have analysed a sample of large SA equity funds. In Jul '19, all the fund's returns were negative but ahead of the Capped Top 40.
• The JSE Ltd's trading statistics (to 26 Jul ‘19) show a -15.1% y/y decline in cash equity value traded YTD.
Provider
Avior Capital Markets
Avior Capital Markets

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.

Analysts
David Talpert

Harry Botha

Warwick Bam

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