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Investment Idea: Old Mutual

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Investment Idea: Old Mutual

  • We recommend an overweight position in the PSG Wealth House View SA Equity Portfolio.
  • OMU SJ has less than 10% of the unsecured lending market, which provides a significant opportunity to drive future growth.
  • Due to Old Mutual’s size, balance sheet strength, historically low discount to group equity value and the low relative price to group equity value or embedded value compared with peers, we feel that the group will be more resilient to economic challenges in 2020 and offer a better potential for upside relative to peers.
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