Ninety One's Pretorius bets on Partners Group despite cloudy year for listed asset managers

Positive on private equity sector

Despite a torrid year for listed asset management firms globally, Ninety One's Abrie Pretorius is still seeing value in private equity and financial services companies, which make up his fund's most recent buys.

Pretorius runs the Ninety One Global Quality Income fund, which has a highly-concentrated portfolio of just 30 stocks held on a five to seven year investment horizon, or as the manager described it, "the closest to private equity you get in the public markets".  For a fund that does not trade very often, so far this has been one of the most active years for the strategy in the face of a global growth derating, which has allowed the investment team to buy stocks at a much more attractive valuation than the historical average. One example is Partners Group, the Swiss global private equi...