First published in StocksInValue on 2nd October 2015
John Abernethy and Head of Sanlam Private (Clime’s international fund partner) sits down with David Walker, Senior Equities Analyst with StocksInValue.
Pieter, and Clime Chief Investment Officer John Abernethy, are finding some inexpensive individual equities offshore but markets are not cheap, hence the fund’s high 50% cash weighting. The focus is on companies with strong balance sheets, high returns on equity and solid cash generation and the style is active management around long-term valuations. Pieter discusses stocks the fund owns and would like to own including Johnson & Johnson, Diageo, Apple, Roche, Yum Brands, Amgen, Medtronic, McDonalds and Richemont.