Amédi De Klerk, Author at Fintax Group

Investment Commentary: Embargoes and Innovation – July 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:12:29 +0000

The Chip Embargo That Backfired When the US moved to restrict the export of advanced semiconductors and chip-making equipment to China, the intention was to slow China’s progress in artificial intelligence and advanced computing. In the short term, it did. But it has also had an unintended consequence: it has forced China to accelerate the […]

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Investment Commentary: AI’s Sputnik Moment – June 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:11:21 +0000

The contest for AI leadership between the United States and China is intensifying. China has released its latest frontier AI model, Kimi K3, as open-weight software, allowing users to access, modify, and build upon the model. Its release has prompted comparisons within the technology community to AI’s “Sputnik moment.” The historical analogy is instructive. During […]

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Investment Commentary: The Singularity – May 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:10:33 +0000

A single week in early June 2026 crystallised the defining tension of this investment cycle: the world’s most prominent Artificial Intelligence (AI) safety company (Anthropic) calling for a global pause on frontier AI development; a sovereign nation positioning itself as a launchpad for unregulated Artificial General Intelligence (AGI); and the U.S. government restricting Anthropic’s most […]

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Investment Commentary: The World’s Strategic Chokepoints – April 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:09:38 +0000

Geopolitical risk is ultimately a story of geography. A handful of narrow waterways control the flow of the world’s trade, energy, and technology; and whoever controls them holds extraordinary leverage over the global economy. To these traditional primary chokepoints, the 21st century has added a new one: the Strait of Taiwan. If oil defined the […]

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Investment Commentary: New Valuation Gaps Emerging – March 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:08:45 +0000

Unsurprisingly, the US–Iran conflict has pushed energy prices sharply higher amid concerns over oil supply disruption. Brent crude has risen from $58 per barrel at the start of the year to $88 at the time of writing; a 53% increase. Energy equities have benefited accordingly, returning 37.8% year-to-date and leading broader market performance. This has been […]

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Investment Commentary: Chaos & Opportunity – February 2026

Amédi De Klerk — Thu, 27 Aug 2026 09:07:36 +0000

The escalation of conflict in the Middle East has reintroduced a layer of geopolitical uncertainty that markets have not had to meaningfully price for some time. Given the region’s central role in global energy supply and trade routes, the implications are both immediate and far-reaching. While the situation remains fluid, it is important to assess […]

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Investment Commentary: Valuation Implied Returns – January 2026

Amédi De Klerk — Thu, 27 Aug 2026 08:53:33 +0000

The chart above shows Morningstar’s Valuation Implied Return (VIR) for various country indices in the Emerging Market index since the start of 2016. Brazil is currently offering a VIR of 10%, reflecting high real rates, earnings resilience and attractive pricing relative to the value on offer, on a risk-adjusted basis. Latin America ranks as the most […]

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Regional Performance & Value – December 2025

Amédi De Klerk — Thu, 27 Aug 2026 08:45:15 +0000

Last year marked a year of exceptional dispersion in global equity markets, with the performance gap between the best- and worst-performing country indices reaching approximately 105%. This wide range underscored the significant value of active management, which enabled Morningstar to sidestep underperforming regions while capitalising on attractive mispricing opportunities and high-conviction ideas. Early in 2025, […]

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Consumer Staples – November 2025

Amédi De Klerk — Thu, 27 Aug 2026 08:25:28 +0000

In prior commentaries, we have highlighted Morningstar’s global research uncovering investment opportunities in unpopular and overlooked regions and sectors such as South Korea and US Healthcare. To date, the allocation to South Korea has delivered meaningful returns, while the market has yet to fully recognise the opportunity presented by current valuations in the US Healthcare […]

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Market Dispersion & U.S. Healthcare – October 2025

Amédi De Klerk — Thu, 27 Aug 2026 08:23:58 +0000

Market dispersion, the gap between the best- and worst-performing sectors and geographies, has widened significantly this year, reaching levels not seen in some time. This environment creates both substantial opportunities and elevated risks for active investors. A striking example is South Korea, a holding in both Fintax funds since the beginning of the year. In October, the […]

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