SA’s best performing fund manager Piet Viljoen on what’s hot and what’s not in 2022

Piet Viljoen’s Counterpoint value fund has been the best performing local fund over the last five years, managing to achieve a compound annual return of a shade under 15%. This is a phenomenal achievement, especially against a backdrop that hasn’t always been conducive to his investment style, which is value focused. The interview concentrates on two topics; the delisting trend that faces the local bourse and legacy-stricken Steinhoff. Piet, who has listed businesses himself, says the burdensome regulatory and accounting requirements outweigh the benefits of being listed on an exchange. He adds that investors may be getting a bit excited regarding Steinhoff’s R25bn valuation, as despite the more transparent road to recovery, it still faces a number of challenging headwinds.