Old Mutual Investors’ Fund acquires WeBuyCars and Dis-Chem stakes amid strategic first quarter rotation

Old Mutual Investment Group rotates into WeBuyCars and Dis-Chem as flagship fund outperforms benchmarks through Sasol and defensive retail plays in 2026.

By: AXL Media

Published: Apr 24, 2026, 8:23 AM EDT

Source: Information for this report was sourced from Daily Investor

Strategic Pivot Toward South African Consumer Resilience

Old Mutual Investment Group’s Investors’ Fund has initiated a significant repositioning by taking new equity positions in WeBuyCars and Dis-Chem during the first quarter of 2026. This move represents a deliberate shift away from resource based holdings in favor of companies that the asset manager identifies as high quality and undervalued. According to analyst Siya Mbatha, the fund utilized gains harvested from a recent rally in platinum miners to finance these new entries, signaling a transition toward more defensive assets within the local market.

Sasol Performance Drives Outperformance Against Peer Groups

The flagship fund reported performance figures that surpassed both its benchmark and peer group averages for the first three months of the year. This success was largely attributed to a substantial stake in Sasol, which was built during late 2025 and the start of 2026. Mbatha noted that Sasol has benefited from improved global chemicals prices and a renewed international emphasis on energy security. The excess cash flow generated by these conditions has allowed Sasol to reduce debt and enhance the operational efficiency of its existing plants.

Valuation Gaps Create Entry Points for WeBuyCars

The decision to acquire a stake in WeBuyCars comes after the automotive retailer’s share price declined by nearly 20 percent since the beginning of the year. Despite this market pressure, Old Mutual Investment Group maintains that the company’s growth remains robust and its price to earnings ratio has become highly attractive. The investment group views the current sentiment as a disconnect from the company’s actual performance, particularly as WeBuyCars expands its physical footprint through new vehicle supermarkets in Cape Town and Pretoria.