Allan Gray partner with Orbis, founded by Dr. Gray.
Orbis act as Allan Gray’s foreign fund managers.
Allan Gray and Orbis have the same investment philosophy and values.
Investment philosophy is value-orientated: ◦ Research companies to determine what they are worth. ◦ Buy shares they believe are undervalued by the market. ◦ Sell them when they think they have reached their worth.
Has a retail investment platform: ◦ Provides access to a focused range of unit trusts from Allan Gray and other investment managers ◦ Simplified administration
Founded in 1993 by a small group of investment professionals.
Publicly listed on the Johannesburg Stock Exchange in 2003.
First SA asset manager to gain GIPS compliance.
GIPS = Global Investment Performance Standards
The culture remains one of ownership and accountability.
Evident by the fact that staff owns 25% of the holding company.
A single “valuation driven”philosophy”.
The investment team consists of 3 former Coronation CIOs.
All analysts rotate among industries so as to become generalists.
Extensive experience and capabilities across all asset classes.
Their motto: “Trust is earned”.
Dave Foord co-founded Foord Asset Management in 1981 with Liston Meintjes.
Liston left in 1997. Dave remains central.
The bulk of the ownership is in the hands of the investment team.
Their investment philosophy: ◦ Get the big calls right. Take advantage of economic cycles. ◦ Buy at the right price. ◦ Take a long-term view and be patient. ◦ Ignore the benchmark when building portfolios. ◦ Diversify and manage risk.
Significant understanding of asset management. It’s their entire focus.
Foord has a dedicated offshore team in Singapore.
Founded in 1994.
A subsidiary of UK based M&G Investments, the investment business of M&G plc, a London listed global financial services entity.
Thus has the support of a significant global group.
But with a strong measure of independence. M&G Investments SA staff are material shareholders in the business.
Their investment philosophy: ◦ Valuation-based ◦ Buy when an asset’s valuation is below its long-term fair value. ◦ Sell once it reaches fair value. ◦ Decisions based on known facts. Don’t try to forecast the future. ◦ Focus on the long term. Ignore short-term “noise”. ◦ Team-based approach. Buy and sell decisions made collectively.
Wally Gray founded Rezco in 1981 with a deliberate focus: ◦ “Managing risk, creating wealth” – Rezco’s deeply rooted philosophy.
Started as a private client wealth manager.
Refocused in 1984 to offer unit trust services.
Their investment philosophy combines: ◦ best aspects of value investing ◦ superior sustainable earnings growth ◦ primary trend analysis and ◦ measured market timing.
Rezco’s edge is their ability to implement a high conviction portfolio.
Aims to have a minimum of 3% of a portfolio in any one share.
Provides Risk Tolerance profiling to pinpoint your natural tolerance for risk.
Helps you understand your financial self and financial risk better.
Uses a psychometric questionnaire.
Psychometrics blends psychology and statistics. It is the scientific discipline for testing personal characteristics such as risk tolerance.
The FinaMetrica risk tolerance profile exceeds international standards for validity and reliability.
Launched in 1998.
Developed and tested in Australia over four years with the assistance of the University of New South Wales’s Applied Psychology Unit.
Maintained with expertise from the London School of Economics.
Best “Risk Profiling Solution” – Family Wealth Report Awards 2014
Best “Risk Profiling Solution” – WealthBriefingAsia Awards 2014
Over 1 0 00 000 FinaMetrica risk tolerance profiles by 1 000s of financial advisers in over 20 countries.
MyFLPTools™ = financial life planning tools.
A one-stop resource for my client conversation and planning tools.
Designed by Mitch Anthony who is the founder and president of Advisor Insights and the Financial Life Planning Institute.
This institute is the leading provider of financial life planning tools and programs for the financial services industry.
Mitch lives in Rochester, Minnesota, USA.
MyFLPTools™ allows me to do profound discovery work with my clients.
It captures each client’s unique story: past, present and future.
It’s an interactive website. Designed to help understand you and your needs better.
And to help you move your stories along.
Overall it helps to deepen my relationship with clients.
Mitch designed the Return on Life™ philosophy to help you live the best life with the money you have.
He is the author of 14 books including my favourites: ◦ StorySelling for Financial Advisors ◦ Your Clients For Life ◦ Making the Client Connection ◦ The New Retirementality
Each team member has many years fund management businesses experience.
Use a unique Fundhouse approach.
Focus on the prospects of a fund manager continuing to perform well.
Aim to understand the factors which drive investment success.
Considers 4 factors when rating a fund: 1. Parent company that offers the fund 2. Quality of the investment team 3. Investment process 4. Past investment decisions or major investment calls.
Best “Ratings and research service” 2016 – Investment Week
Best “Independent research” 2016 – Investment Week
Best “Ratings and research service for advisers” – 2017 Professional Adviser Rewards.
Cover more than 100 fund management companies and 200 investment processes globally.
Is a boutique investment business with a focused product range.
Walter Aylett founded the business in 2005 after he left Coronation.
The business focuses on the retail market through long-only funds.
Across both equities and multi-asset funds.
Aylett & Co. is 100% staff owned.
Investment philosophy: ◦ Their edge is their mindset around risk management and downside protection. ◦ Identify good quality businesses first and, secondly, look for mispricing. ◦ Manage risk by not overpaying for an investment. ◦ Thus, include a margin of safety when making investments. ◦ Bottom-up in thinking, looking at assets rather than the economy. ◦ Risk is the Permanent Loss of Capital. Focus is to avoid it.
Nedgroup Investments has been operating in its current form since 2003.
It is one of the leading retail management companies in SA.
And has a credible local and offshore offering.
It was formed out of the consolidation of a number of asset- and wealth managers.
The active management side of the business follows a “best of breed” approach.
They issue exclusive single manager mandates to their various funds in the range.
For the Core range of funds Nedgroup has responsibility for the investment strategy.
The strategy is implemented by Taquanta – a specialist quantitative passive fund manager.
The offshore component is outsourced to Blackrock.
The core range resides outside of the “Best of Breed” range.
It is intended as a compliment.
And also Nedgroup’s way in which to appease clients seeking low-cost alternatives.
Prescient was founded by Herman Steyn and Guy Toms in 1998.
Herman focussed on managing the business up to his retirement in 2018.
Guy’s focus has been on investments. A highly experienced income investor.
He is the key portfolio manager of the Prescient Income Provider Fund.
Prescient has its roots in South African fixed income.
Later branched out into (quantitative) equities, asset allocation and global investing.
It established a team in China and more recently the United Kingdom.
The broader group also provides fund services, private wealth management, stockbroking.
It is also management company (manco).
Prescient was listed in 2012.
Delisted in 2017 when Stellar took a significant ownership stake.
Stellar has since sold their stake to Thabo Dloti (Sithega Holdings) who now sits on the board.
Is an independent boutique investment business, founded in 1987.
Was acquired by Old Mutual Investment Group (OMIG) in 2005.
OMIG is the majority shareholder. Marriott’s senior staff holds the remainder of the shares.
But Marriott remains independent: ◦ They operate in a separate location, Hillcrest in Durban. ◦ Retaining all of their administration in house. ◦ They run the business themselves and focus on their products. ◦ With the support of the broader group should they need it, a big positive.
Investment philosophy: ◦ The business is unique in the South African market. ◦ Their focus is on generating sustainable and high levels of income for investors. ◦ Select assets that produce reliable income streams, ideally growing. ◦ Purchase these assets (and their income streams) at reasonable prices. ◦ Buy when the income yield is above the long term average. ◦ These enables Marriott to give an investor a more predictable investment outcome.
Ninety One is an independent global asset management business.
It is listed in Johannesburg and London.
The business demerged from the Investec Group in March 2020.
The new name, Ninety One, is in recognition of the brand’s heritage.
It was founded in 1991, in South Africa, by Hendrik du Toit the CEO.
Investec Group remains a material shareholder.
Ninety One offers active strategies across equities, fixed income, multi-asset and alternatives.
It has a good support base for active management.
The business and its management have a deep understanding of asset management.
They have demonstrated willingness and patience to support their strategies through periods of underperformance.
The low turnover and long tenure of senior employees is proof of a positive culture.
Sasfin Wealth is part of the Sasfin Group which listed on the JSE in 1987.
Sasfin today comprises Sasfin Bank, Sasfin Wealth and Sasfin Capital.
In 2002 the Group acquired Frankel Pollak Securities which forms the base of Sasfin Wealth.
Sasfin Wealth includes Sasfin Asset Managers – a leading boutique asset manager.
It offers a range of equity, income and multi-asset class funds.
Independent and highly protective of the preservation and growth of their clients’ capital.
The investment team includes some of South Africa’s most highly-regarded fund managers.
They have close partnerships with leading global research houses.
The team has developed a sound investment philosophy.
It combines fundamental research with focused analysis of global macroeconomic trends.
Sasfin Asset Managers won several Raging Bull and Morningstar awards for its performance.
A Raging Bull award is made on the basis of risk-adjusted performances.
It takes into account the consistency of performance over periods up to five years.
Morningstar is a worldwide investment research company headquartered in Chicago, Illinois, USA.
Camissa Asset Management was established as Kagiso Asset Management in 2001.
It was a joint venture between Coronation and the Kagiso Group.
Coronation exited the business in 2006.
In 2022, the founding shareholder, Kagiso Tiso Holdings sold its 51% share.
As a result, management and staff now own 74%.
Kagiso then changed its name to Camissa Asset Management.
They offer a focused product range with their core being the equity offering.
Their investment edge is stock picking. They follow a bottom-up process.
Make investment decisions based on mispricings observed in the market.
Buy investments that are priced below their assesment of intrinsic value.
Then hold them while they deliver strong cash returns.
Until they can be sold above this value.
They have a deep understanding of the risk of equity investing.
Since 2005, PlexCrown is the leading retail unit trust fund-rating agency in South Africa.
Their ratings are independent, unbiased and objective.
The ratings are based on a combination of various recognised statistical measures.
PlexCrown is at the forefront of statistical research in the unit trust industry.
They do the calculations for the coveted Raging Bull Awards.
The awards are based on risk-adjusted returns by applying the PlexCrown methodology.
PlexCrown also determines the Raging Bull Management Company of the Year Award.
Unit trust funds are awarded PlexCrown Ratings as follows: ◦ Top 10% = 5 PlexCrowns ◦ Next 22.5% = 4 PlexCrowns ◦ Next 35% = 3 PlexCrowns ◦ Next 22.5% = 2 PlexCrowns ◦ Bottom 10% = 1 PlexCrown
Accredinet is the “Home of the independent financial adviser.”
Opened its doors in 1999.
Is a subsidiary of the Fourth Dimension Financial Services Group (4D).
4D is an independent financial services company.
Accredinet is an authorised financial services provider FSP8933.
Within Accredinet I am the sole owner of my business.
And a representative of Accredinet Financial Solutions (Pty) Ltd.
Through Accredinet I get access to first class service providers including: ◦ Allan Gray Investment Services ◦ atWORK Internet software solutions ◦ Horizon compliance ◦ Astute Financial services exchange
