Investment Industry Dynamics – March 2008

Allay Gray

Ian Liddle has been appointed Chief Investment Officer of Allay Gray Limited effective 1 March 2008. This follows the resignation of Stephen Mildenhall who will be relocating to the UK and leaving Allan Gray after 10 years with the group.

Ian joined Allay Gray in 2001, later becoming an assistant portfolio manager and, following that, a portfolio manager of the balanced and equity portfolios in 2005. He has a B Bus Sci (Hons) degree and is a CFA Charterholder.

Andrew Lapping has been appointed a portfolio manager of the equity and balanced portfolio. Andrew joined Allan Gray Limited in 2001 as a trader, then an analyst, and later a portfolio manager of the fixed interest funds. He holds a B Sc (Hons) (Eng), BCom and is a CFA Charterholder.  

Cannon Asset Managers

Cannon Asset Managers has announced the appointment Geoff Blount as CEO of Cannon Asset Managers. Geoff joins Cannon from Investment Solutions where he was Head of Manager Research for the past nine years. Geoff will join Cannon with effect from April 2008.

Fraters Asset Managers

Fraters’ shareholding is being restructured, with the founding Fraters family shareholding being reduced to 7%. Fraters Group Holdings (FGH) rectors and staff aim to hold more that 50% of the company’s equity through share offers which are aimed at increasing its empowerment and previously disadvantaged shareholding to more that 50%. The J&J Group is a broad-based BEE company and has become a new 20% shareholder, joining the Fraters board in a non-executive capacity.

Fraters reiterated that the benefit for clients is that the firm is once again owner managed by its current directors and staff which ensures its independence. This independence is deemed extremely beneficial by the FGH board for long term business sustainability.

Investec Asset Management

Investec Asset Management has appointed Mark Lacey and Jonathan Waghorn to join the Commodities and Resource Investment team based at Investec Asset Management’s London offices. Both Mark and Jonathan are ex-Goldman Sachs directors and were employed as Executive Directors and joint heads of its Energy Research team.

Investment Solutions

Mark Lindheim has been promoted to Head of Manager Research, taking over from Geoff Blount who has resigned to join Cannon Asset Managers as CEO. Mark (BCom, Hons and CFA Charterholder) has 13 years of industry experience and has been with Investment Solutions for the past two years.

Imtiaz Ahmed, Investment Solutions SA’s Chief Investment Officer, has resigned with effect from end of February 2008 to return to direct investment management.

Stephen Price (Bsc Hons and CFA Charterholder) has been promoted to deputy CIO (SA) and will take over all of Imtiaz’s responsibilities. Stephen has 11 years’ industry experience, of which eight years were spent at Investment Solutions doing manager research and portfolio management for the SA, UK and global portfolio ranges.

OMIGSA

Old Mutual Investment Group SA (OMIGSA) appointed Feroz Basa and Varusha Daljee as Assistant Portfolio Manager and Trainee Portfolio Manager respectively, in the Value Equity Investments’ range of retail and institutional funds with effect from January 2008.

Feroz (B Com Hons) joined Old Mutual in 1998 where he was involved in various roles before joining OMIGSA’s Equity Analyst team. Varusha Daljee (FIA, FASSA) is an actuary joining from OMIGSA’s Boutique Capability Management team where she was responsible for product development and boutique oversight.

Craig Whittle (B Com, CA (SA)) has resigned from OMIGSA and Mike Schroder will carry on managing the OMIGSA Small Cap Value fund on his own.

RMBAM

Deon Gouws, the current CIO who joined RMBAM last year, has been appointed as CEO of RMBAM, taking over from Louis van der Merwe who has resigned to pursue his own interests. Prior to joining RMBAM, Deon was based in London where he was Executive Director of Sanlam Multi-Manager International. Deon is a qualified CA and a CFA Charterholder. He also has an M.Phil Finance from Cambridge University.

Norman MacKechnie was appointed Head of Equity in December 2007.

Lynn van Coller was appointed Head of Portfolio Construction (new position) in January 2008. Lynn’s role will be to optimise returns across portfolios while taking investment risks into consideration.

SEI

Karl Dasher, Chief Investment Officer of SEI (a US-based global multi-manager) has resigned as at the end of December 2007. Karl has joined Schroders, a London-based long-only manager.

STANLIB

STANLIB announced the appointment of Keillen Ndlovu and Evan Jankelowitz as co-heads of the STANLIB Property Franchise following the resignation of Mariette Warner. Mariette had been the franchise head for two years and is leaving to pursue her interest in the physical property arena.

Keillen joined the group in 2004, in the Listed Property Fund Management team, responsible for managing the Leveraged Listed Property Fund Management team, with some listed property research responsibilities. Keillen later assisted with the management of listed property funds.

Evan joined in 2003 in the Structured and Alternative Business Unit before joining the Property team.

Victor Mphaphuli was appointed Head of Bond and Income Funds with effect 1 March 2008, taking over from Henk Viljoen. Victor, currently Senior Portfolio Manager, has been in the financial services industry for 11 years and has been with STANLIB for the past 7 years, working in the Fixed Interest team, co-managing the STANLIB Bond Fund and other bond mandates. Ian Scott will take over the role of Senior Portfolio Manager from Victor.