Manager Research
all members of our manager research team have over ten years of investment experience.
Following the departure of Errol Shear from ABSA earlier this year, we placed the ABSA Select Equity Fund “Under Review”. It was previously rated a Tier 2 fund. Errol was at the core of the ABSA business for many years including a number of years as Chief Investment Officer. Following ABSA’s restructure into a franchise model in 2016, he moved into the role of Head of Target Returns, but continued to manage their flagship equity fund, ABSA Select Equity. Errol was a strong portfolio manager and an experienced investor, but always struggled to build the team around him to create proper succession. This was one of the drivers behind the shift to a Franchise model.
We have spent time with the team at ABSA and have changed the rating on the ABSA Select Equity Fund to a Tier 3. There have been significant changes in the business, the portfolio managers, and the investment process in the recent past. We believe that time is needed for these changes to be embedded and for the necessary stability to be in place that a well-managed equity fund requires.
Review of ABSA Select Equity
6 Nov 2017