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Industry report: Fund manager changes Q3 2020

Graviton
| Investments

As part of our investment process, our Manager Research Team meticulously screen the full universe of asset managers and their investment strategies, following a quantitative and qualitative process. We assess managers based on the three precise drivers and philosophies that underpin their investment performance: investment skill, risk factors and idiosyncratic style.

Integral to our on-going process, involves being in close contact with our underlying fund managers to understand their performance, positioning and also any changes that have occurred within their businesses. Each quarter we will be publishing a Fund Manager Changes industry report that will collate the business and team related highlights that occurred during the quarter.

Q3 2020 Highlights

Laurium

  • Head of South Africa Research, Craig Sorour will be emigrating this year. He left Laurium at the end of October
  • His responsibilities will be taken over by Junaid Bray, who was previously the Head of Equities at Argon Asset Management
  • As an enhancement to their portfolio management process, Laurium decided to implement a multi-counsellor portfolio management approach
  • Nedgroup Investments have appointment Laurium to run their Nedgroup Investments Growth Fund

Mazi Capital

  • Rahima Cassim, a Senior Research Analyst at Mazi, sadly passed away during September. Her responsibilities have been redistributed within the team until they hire someone new.

Sanlam Investments Management

  • Senior Satrix portfolio manager Adriaan van Niekerk left the business in September 2020 to pursue  interests outside the industry.
  • Nico Katzke joined Satrix on 1 October 2020 and will fulfil the role of head of Portfolio Solutions.
  • In August 2020, Sanlam announced that it had signed a term sheet with African Rainbow Capital Financial Services (ARC FS) in  respect of a transaction to establish one of the largest broad-based black-empowered asset management companies in South Africa.

Prudential

  • Prudential launched a new property fund, called the Prudential Property Fund, in July 2020. The  Prudential Property Fund offers their fundamental active South African property capability, as used by their multi asset products such as the Prudential Balanced Fund and the Prudential Inflation Plus Fund, in a pooled product.

Perpetua

  • Perpetua Holdings entered into a joint venture with Intaba Capital to set up Intaba Perpetua Impact Holdings. The JV took effect on 1  September 2020, and Intaba Perpetua Impact Holdings will own 100% of Intaba Perpetua Fund Managers.
  • This entity launched the Intaba Perpetua Impact Fund I (GP) and is being marketed to potential limited partners.

Terebinth

  • Terebinth launched the Terebinth SCI Active Bond Fund on 1 August 2020. This fund, managed by  Nomathibana Matshoba, is currently at R51m AUM.

Truffle

  • Truffle is moving forward on the planned closure of both the Truffle Sanne Retail Hedge Fund and the Truffle SCI Flexible Income fund in the  last quarter of 2020.

Click here to read the full report.

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