maintaining the trust of our clients IS the cornerstone of our business
INTEGRITY
GLOBAL EQUITY STRATEGY
This strategy aims to achieve long term capital appreciation (in USD terms) by investing in a diversified portfolio of global equities.
INTEGRITY
LOCAL EQUITY STRATEGY
This strategy aims to achieve long term capital appreciation by investing in a diversified portfolio of South African equities.
GLOBAL
FLEXIBLE STRATEGY
This strategy aims to achieve long term capital appreciation by investing in a diversified portfolio of funds of different asset classes.
TRUST IS THE FOUNDATION OF LONG TERM RELATIONSHIPS
Integrity Asset Management is an owner managed,
boutique asset management company specialising in
unique, tailor-made solutions for private and institutional
clients. As such, we invest in long-term relationships with
our clients through exceptional, personalised service and
long-term value creation.
INVESTMENT MANAGEMENT
We provide an open architecture to structure the most appropriate, cost-effective and administratively efficient portfolios to meet our clients’ investment needs:
- Local and offshore equity collective investment schemes and segregated portfolios
- Local and offshore multi-managed portfolios
Our Views
Market Synopsis – November 2026
The Nasdaq fell just shy of 3% last Friday after Alphabet was punished for its AI spending and Microsoft was rewarded for restraining its own. Tech then rallied after the US midterm results as oil fell sharply, which suggests October’s sell-off was largely a geopolitical event rather than an explicit verdict on AI.
Beneath the headline, however, the rebound was uneven. Hyperscalers led while chipmakers lagged, a sign that investors are reshuffling the premium they pay along the AI supply chain. Indiscriminate exposure to the AI theme may no longer pay as it once did, because the durability of each layer’s competitive advantage differs. Instead, a closer look at each stage of the chain is required to separate the durable advantages from the fragile ones.
Market Synopsis – October 2026
The same energy shock is now being met with rate hikes in the US, Europe and Japan, and markets expect far more to come. Yet the case for tightening differs sharply between economies: Europe’s credibility argues for less, Britain’s slack argues for patience, and Japan’s negative real rate argues for more. The Fed’s first hike has already been followed by softer inflation data and talk of an October pause, but core inflation has now sat above target for five years and the price level is 3.2% above trend. Whether the recent softness is a lasting turn or a pause in a structural problem is the question on which both the bond market and the equity market now depend.
Market Synopsis – September 2026
Share prices and corporate bond yields have rarely been able to rise together for long, yet that is precisely what has been happening this year. Over the past four decades, bond bear markets have seldom ended in a calm reversion, with a durable rally in Treasuries usually requiring a fall in equities first. Current valuations offer little cushion, given that analysts’ long-term earnings growth expectations are the highest on record.
What makes the divergence more precarious is that the same foreign flow supporting the equity market has also been holding up the US dollar, and it has now begun to roll over. The currency has historically cushioned foreign holders during a US selloff. That cushion may not be there next time.