Fund bullish on food

SOUTH Africa's food retail stocks are cheap and have the potential to grow their earnings and outperform the market as a whole over the next five years, says a fund manager at Coronation Fund.

SOUTH Africa's food retail stocks are cheap and have the potential to grow their earnings and outperform the market as a whole over the next five years, says a fund manager at Coronation Fund.

Gavin Joubert, whose fund handles assets in excess of R150billion, said food retail stocks were "defensive" and faced short-term earnings pressure as food inflation drops, but were still attractive. - Sapa

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