WATCH: Stock pick — Remgro

Kyle Burgess from Nedbank Private Wealth chose Remgro as his stock pick of the day.

He said that Remgro would give investors good exposure to Mediclinic, which has pulled back and makes up 18% of net asset value (NAV).

“It’s biggest holdings through First Rand and RMI also gives you nice exposure to the South African banking sector, which is very attractive at current levels.… RMI gives you a fair amount of access to SA Inc stock, with a smattering of offshore earnings  through Mediclinic. This is a good time to be picking up some of the stocks — currently trading at the same value around four to five years ago.”