Welcome to the second quarter edition of Maz'enethole. In this edition, we share our perspectives on the changes shaping the investment landscape and how disciplined thinking, diverse insights and a long-term approach help us safeguard and grow our clients' investments.

Our CEO, Malungelo Zilimbola, reflects on a volatile second quarter, examining how the easing oil shock, hawkish central banks and shifting commodity prices influenced global markets and what these developments could mean for portfolios in the months ahead.

Drawing inspiration from the 2026 FIFA World Cup, our CIO, Asanda Notshe, explores the lessons football offers on building investment teams that are diverse, adaptable and positioned for long-term success.

Devon Smithers, Analyst in our Global Equity team, shifts the conversation beyond AI chips to the networks that power them. He explains why Arista Networks stands out as one of the most compelling long-term opportunities in AI infrastructure.

Closer to home, Multi-Asset Portfolio Manager Kopano Makhu examines how South African REITs have responded to the country's energy and water challenges. By turning operational resilience into a competitive advantage, these businesses are demonstrating how sustainability can enhance earnings, strengthen occupancy and support long-term asset values.

We hope these insights provide valuable perspective as you navigate today's evolving investment landscape.

CEO'S NOTE

Making Sense of Market Volatility

How geopolitics, commodities and central banks shaped the second quarter of 2026.

Malungelo Zilimbola

Markets swung sharply as oil prices collapsed, central banks turned more hawkish and commodity prices reversed course. The Malungelo unpacks the key forces that shaped the quarter, and what they mean for portfolios in the months ahead.

CIO PERSPECTIVE

Investment Team Lessons from the World Cup

What football can teach us about building diverse, adaptable and high-performing investment teams.

Asanda Notshe

What does the FIFA World Cup have to do with investment management? More than you might think. Discover why building a winning investment team relies on many of the same principles that separate champions from the rest.

MAZI GLOBAL

Arista Networks: Connecting AI Infrastructure

Why the world's largest AI and cloud companies rely on Arista to keep their networks running.

Devon Smithers

Everyone is talking about AI chips. Far fewer are paying attention to the networks connecting them. Here's why Arista Networks sits at the heart of one of AI's biggest long-term investment opportunities.

MAZI PROPERTY

From ESG to Sustainability: How South African REITs Turned Crisis into Competitive Advantage

Renewable energy and water security have become essential infrastructure for protecting income and asset values in SA.

Kopano Makhu

Load shedding was supposed to be a crisis for South African property. Instead, it became the catalyst for one of the sector's biggest competitive advantages. Here's how leading REITs turned energy and water resilience into stronger earnings and higher asset values.

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