Mike Adsetts | Insights from Momentum Investments | 7th edition #PIAFRICA

What notable investment trends or strategies will you unpack for discussion at PI Africa 2025 and the outlook going forward?

In a world with a lot of risks and unanticipated outcomes, having a broad range of diversified investments is critical. The breadth of investment opportunities, the necessity for liquidity, and costs remain key features in investment decision-making. Deconstructing the market into alpha and beta opportunities, where you have a strict overall cost budget, paying less for beta (index tracking and factor investing) allows paying up for alpha opportunities (active, unlisted). In concert, this creates a robust portfolio mix.

What key lessons has Momentum Investments learnt about successfully taking advantage of short-term market volatility to achieve medium to long-term resilience?

You never know exactly what the future holds, so risk management is a critical feature of portfolio management. Diversification is important and making sure that you don’t inadvertently concentrate positions in underlying performance drivers. The basics of investment management matter: have the right strategic mix of investments but allow for some variation as a result of tactical views (informed by valuation and macro drivers) and performance trends.

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Mike Adsetts

Global Chief Investment Officer, Momentum Investments, South Africa