The quarterly publication of PSG Asset Management which contains regular communications from our fund managers and about our funds.
In this publication we communicate to our investors those thoughts and ideas we believe are important and valuable.
In Kevin Cousin's article "Lessons from the research paper Buffet's Alpha", we unpack what Charles Munger described as "organised common sense" and the parallels it has to our own business. This boils down to having a simple investment philosophy that makes sense, and sticking to it over the long term. ..... Read more
Why taking a long-term view is key to successful investing
Many investment gurus, experienced advisers, professionals and adverts remind us about the time it takes for a strategy to work. Yet, when the market dislocates and hits us with volatility, we become very short-term focused. We digest every bit of bad news as if our lives depended on it and we obsess over it, projecting the bad news into the future. It fuels our dinner conversation and compels us to take action. ..... Read more
Lessons from Warren Buffett
Warren Buffett has been immensely influential for PSG Asset Management. Firstly, his company – Berkshire Hathaway – is an important investment in our unit trusts. Secondly, his writings in each year’s annual report (going back many decades) are a valuable source of investment wisdom and common sense. .....
Buying with a margin of safety in fixed income
Investing with a margin of safety is a fundamental cornerstone of our investment philosophy. It is always important to protect our investors against permanent capital loss. We believe that buying with a margin of safety is non-negotiable in our role as stewards of our clients' money. ..... Read more
The PSG Flexible Fund: equity-like returns at lower risk
The PSG Flexible Fund aims to deliver equity-like returns at lower risk.The Fund has been managed in terms of its current mandate and benchmark since 1 November 2004. Since then, the fund has aimed to provide investors with equity-like returns, but at lower levels of risk. ... Read more
Portfolio Holdings as at 31 March 2016
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Performance to 31 March 2016
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Unit trust summary
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PSG Angles and Perspectives: Q1 2016 (pdf)
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Archive of previous editions
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