WATCH: Stock pick — Quilter

Liston Meintjes from Nvest Securities chose Quilter as his stock pick of the day.

He said the share was down a little on Monday, but has been quite flat since it listed.

“If you were an Old Mutual shareholder, for every 10 Old Mutual shares you automatically received three Quilter shares. Quilter is really the asset and wealth management arm … but they’re a fairly sizable crowd. The rand market capitalisation is around R50bn and they have around R116bn under what they call assets and administration, which equates to over R1-trillion. Spectacular numbers to say the least, definitely one to look at.”