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Stock pick: Waldo Du Plessis from Nitrogen Fund Managers

Waldo Du Plessis from Nitrogen Fund Managers chose Old Mutual as his stock pick of the day, they have recently "de-merged" or restructured themselves, they unbundled Quilter which was their UK investment firm. They are now left with the old Old Mutual and with Nedbank. Nedbank also came out with their results this week and it looks like Old Mutual will be unbundling more share and those will be three per every one hundred Old Mutual shares for a Nedbank share so there is some value to be realised there before any fundamental upside.

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