Round One of The R1m Challenge: Piet Viljoen's 'Local' is smashing Magnus Heystek's 'Offshore' - but it's very early days

Six months ago, a BizNews community member stumped up R1m to put the Local v Offshore argument to the test over a five year period. Half of it was given to Counterpoint's Piet Viljoen to invest in his SA-focused Value Fund; the other half to independent financial advisor Magnus Heystek, founder of Brenthurst. So far it's hardly a contest. Viljoen's R500 000 has grown to almost R600 000; Heystek's is down to around R350 000. But both caution that it's very early days, Heystek reminding us how Tiger Woods blew out in the first few holes of his first appearance at The Masters, only to regather and cruise home well clear of the competition. In this podcast with BizNews editor Alec Hogg the money managers share some important lessons they have already learnt from the exercise. Learn more about your ad choices. Visit megaphone.fm/adchoices