A sense of what is to come?

In every generation and in every nation there are moments and periods where political and economic orders are considerably altered creating new opportunities. In such times, it is as if the economy has rebooted and almost everyone has been afforded a fresh start. Such is the time we find ourselves in Zimbabwe. While idealists may

Equities – The Age of Volatility

Market volatility is likely to characterise the next six to nine months. As varying economic and political factors come into effect, investors will scurry around to get a sense of where markets are headed. Not that investors will not be able to appreciate key head and tailwinds, but instead, understanding the net effect of these

Pivoting for a Return of Optimism

Just as negative speculation created volatility in the last ten months, a sense of euphoria and positive expectation, in light of current events, is sowing seeds for drastic price movements in the short to medium term. Driving these movements will be how the market thinks of macros. If you don’t do macros, macros will do

This time it is different?

“When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing,” Chuck Prince, former Citigroup Chief Executive and Chairman referring to credit boom before the financial crisis. No better words can sum up the general mood

Of the few things that asset managers, government and pension funds can agree on, is the reality that equities, fixed income and property have proved inadequate in so far as providing risk adjusted returns. The three asset classes have been the mainstay of pension and institutional investing for decades in Zimbabwe. The anxieties of 2008

Bindura Nickel Corporation

According to our credit research and evaluation, we have downgraded BNC bond’s credit health. Our report identifies emerging credit and business risks threatening BNC’s ability to complete the “restarting Smelter” project on time and meeting coupon and bond repayment schedule. Below are some of the reasons we identify: Download Report

Fixed Income- the new financing norm?

Are we beginning to see a fixed income market take the place of the bank loan market? 2014 has gone down as the year most investors burnt their fingers in the equity market. The industrial index went down 20%. If conditions persist, we have no reason to expect that 2015 the index as a whole.

Where will returns come from?

This is the foremost question majority of institutional and individual investors is asking about the Zimbabwean equity market. To the extent that investors should not confuse GDP growth with equity growth; they should too not confuse slowing GDP growth with equity tagnation / contraction. Our research findings tell us that even with slowing economic growth,

At the core of Emergent Capital Management’s DNA is Research. Research informs our decision making, fuels our conviction and distinguishes our offering. Everything we do is knowledge driven.