Sam Houlie has been appointed as Investec Asset Managements Head of Equities in South Africa. In his new role, Houlie will be responsible for the leadership of the equity team.
Houlie takes the reins from Gail Daniel, who has decided to focus her time on the Investec Managed and Investec Equity Funds, both of which are leading unit trusts, and the corresponding institutional mandates. She will also focus more of her time on the development of a new Investec hedge fund.
Gails fund has the best track record over 10 years among general equity managers in SA. We fully support her desire to concentrate her efforts on maintaining that phenomenal track record and building our profile in the alternative space. We are confident that our clients and investment teams will continue to benefit from Gails exceptional investment insight for many years to come, said Hendrik du Toit, Chief Executive Officer of Investec Asset Management.
Houlie will continue to manage existing institutional mandates and the Investec Cautious Managed Fund, which has attracted over R1.5bn in under a year.
We have an excellent long-term track record in equities management, across all our propositions. Much of this success is anchored in the work done by our equities research team, which generates the ideas from which portfolios are crafted. We are confident that Sam has the vision, energy and experience to build on the success of this process. We wish him well in his new position, Du Toit added.
Commenting on his new role, Houlie said, Investec Asset Management remains way ahead of its peers in terms of its understanding of the strength of diversity and I am convinced that this is a vital ingredient in building a successful team in a dynamic equities landscape. I am tremendously excited by the opportunity to maintain and enhance our leadership in the equities space.
Sam Houlies biography
After completing his articles at Ernst & Young in Cape Town, Houlie began his investment career at Allan Gray as equities analyst. He joined Abvest Associates in 2001 and was instrumental in establishing the equities business from scratch and building a solid investment process and track record. During his time at Abvest, Houlie progressed from equities portfolio manager to Chief Investment Officer before being appointed CEO in October 2004.
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