R1m Local v Offshore Challenge: One year in, Piet is cruising, but don’t count out Magnus

We’re 20% into the five-year Local v Offshore investment Challenge and Counterpoint’s Piet Viljoen is off to a fast start. His SA-focused half of the R1m stake has appreciated to R550 239 – a superb achievement considering substantial ‘drawdowns’ (ie price drops) reported by asset managers worldwide. Offshore-focused Magnus Heystek of Brenthurst Wealth is absorbing the full brunt of the market meltdown, with his half dropping in value to R365 470. Between the two of them, however, the R1m has depreciated by a modest 8.5%, reflecting the power of diversification as it is a significant outperformance against most asset portfolios. On the one-year anniversary of the challenge, Piet and Magnus look back at the past year and ahead to the next four. Both will be keynote speakers at BNC#5 in the Drakensberg at the end of February. They spoke to Alec Hogg of BizNews. Learn more about your ad choices. Visit megaphone.fm/adchoices