Northstar Asset Management

Northstar Asset Management Delivering wealth to our clients. Cape Town based asset manager with a long heritage and impeccable pedigree.

A SINGULAR MISSION: DELIVERING WEALTH TO OUR CLIENTS

Northstar Asset Management is a Cape Town based asset manager with a long heritage and impeccable pedigree. Our core business is the management of domestic and offshore share portfolios for high net-worth private clients and institutional investors. At Northstar our energy is deployed on filtering the constellation of investment options availa

ble and concentrating our energies and efforts on high impact ideas. Detailed analysis defines our thinking and an absolute obsession with creating wealth for our clients is the essence of our value system.

Everyone’s written Pick n Pay off.“Too much debt. Loss making. Losing market share. Old management missteps.”And yes, al...
09/09/2025

Everyone’s written Pick n Pay off.

“Too much debt. Loss making. Losing market share. Old management missteps.”
And yes, all of that is true.

But here’s the thing…

At today’s share price, the entire Pick n Pay store network (prime locations, national reach, decades of brand equity) is effectively being valued at zero.
Read that again: Zero.

Boxer, in which P*K owns the majority, is worth more than the whole group. The Clothing division adds meaningful value. And new management is making tough, necessary calls.

So here’s the uncomfortable question:
Are investors so scarred by the past that they’re ignoring the optionality in the future?

Ex*****on risk is high, no doubt. But if the core PnP business even modestly improves, what happens to the share price from here?

Sometimes, the most interesting opportunities are hiding in plain sight.

At we are celebrating two birthdays today. The Northstar BCI Income Fund has reached its 10-year milestone and Mark Se...
22/07/2024

At we are celebrating two birthdays today. The Northstar BCI Income Fund has reached its 10-year milestone and Mark Seymour, Director of Fixed Income also celebrates his birthday.

In the recent Citywire South Africa article (10 July) Patrick Cairns writes: "Over the past three years, the Northstar BCI Income Fund has delivered a cumulative 24.8%, ranking it 17th out of 98 funds in the Citywire - Bonds - South African Rand category." Link to article: https://lnkd.in/dCKRm6wD

The Northstar BCI Income Fund is a low-risk fund ideal for investors who require regular and stable income that targets inflation beating returns over the long-term, while actively managing risk of capital loss in the short-term.
Link to fund: https://lnkd.in/dYZQbVRK

06/12/2023

We are excited about this quarterly as these relevant articles are well worth the read. One looks at the value proposition for emerging markets, one is a reminder to think about the long-term when you invest, and one covers rand hedges. You can find Northstar Asset Management's latest quarterly market report here: https://lnkd.in/duDmrR38

16/11/2023

In Adrian's words on the First Avenue and Northstar collaboration: "Core shared values such as unflinching moral integrity and diversity meant that a natural fit and friendship has developed between the two firms. In addition, we also share an investment philosophy of owning quality businesses". Read more about Lo Giyose the CIO of First Avenue in the article link below. Lo has a brilliant mind, and we value the insights he shares with us on a daily basis.
https://lnkd.in/eAPib_GP

02/11/2023

In this video, Adrian Clayton introduces his most recent article, "As much as things change, they also stay the same." We take a look back at past stock market dislocations and their underlying causes. The common denominators driving short-term pricing are greed and fear and we question whether this will ever change. Read article here: https://lnkd.in/dZJQZ3Va

20/10/2023

Marco Barbieri, Director of SA Equities discusses the performance, drivers of performance and positioning of the Northstar BCI Equity Fund for the third quarter of 2023. https://lnkd.in/d6UPE-gK
To view more about the fund click here: https://lnkd.in/dXqyGQTS

18/10/2023

In this video Adrian Clayton, Northstar Asset Management CIO discusses the Northstar BCI Managed Fund in terms of its positioning and performance over Q3 2023.
https://lnkd.in/evxsUQjE
For more detail on the Fund please view factsheet here: https://lnkd.in/etnXwwyq

16/10/2023

Mark Seymour's latest article, “A challenging decade for fixed-income is finally over,” talks to it being an opportune time for low-risk investors to enter the global market, with valuations at attractive levels. Additionally, the Northstar Global Income Fund (USD) has launched, offering a multi-asset class fund that aims to deliver a 2% real return while providing stable income for investors with a low-risk mindset. Read more about it. https://www.northstar.co.za/quarterly_report_art/a-challenging-decade-for-fixed-income-is-finally-over/

Northstar Asset Management will be hosting 5 learners at our offices this week as part of the annual CFA Society South A...
11/10/2023

Northstar Asset Management will be hosting 5 learners at our offices this week as part of the annual CFA Society South Africa, Day Of The Girl job shadowing initiative. It will be a privilege to engage and hopefully inspire these young women.

06/10/2023

As a tumultuous decade for global fixed income draws to a close, valuations are attractive, making it an ideal time for low-risk investors to enter the global market. Read more about this in Mark Seymour's article "A challenging decade for fixed-income is finally over." Mark also talks to the launch of the Northstar Global Income Fund (USD). This multi-asset class fund aims to deliver a 2% real return and provide a stable income for investors with a low-risk mindset.

Article: https://www.northstar.co.za/quarterly_report_art/a-challenging-decade-for-fixed-income-is-finally-over/

Global Fund Disclosure: https://www.northstar.co.za/legal-information/

04/10/2023

Experience, in the asset management industry, cannot be substituted for. In this article, we take a look back at past stock market dislocations and their underlying causes. The common denominators driving short-term pricing are greed and fear and we question whether this will ever change. Read article here: https://lnkd.in/dZJQZ3Va

Address

Constantia Main Rd, Madison Place, Alphen Office Park Suite 1A
Cape Town
7806

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00

Telephone

+27860766522

Website

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