Manager Research

Sanlam Investment Management (SIM) recently announced that Nersan Naidoo, the CEO of Sanlam Investments has resigned. As a result of Nersan’s resignation, Carl Roothman, the current CEO of the Sanlam Investment Group - which comprises Sanlam Investments, Sanlam Specialised Finance, Sanlam Inve...

We have recently concluded our review of the Perpetua SCI Equity Fund. During 2021, we downgraded the fund to Tier 2 and we have spent time during this review assessing whether our concerns with the fund are still relevant. Ultimately, we continue to believe that a Tier 2 rating for the fund is appr...

There have been several headlines in the media following the recent SENS announcement from Coronation regarding their ongoing tax dispute with SARS relating to their international fund management business. This note explains the nature of this tax dispute and the potential impact on Coronation&rsquo...

In this note, we cover fund research updates that pertain to the downgrade of the Laurium Flexible Prescient Fund to Tier 3, benchmark changes for the Ninety One Equity and Value funds, a leadership change at Foord and a portfolio manager change for the Allan Gray Bond Fund.   Laurium Flexibl...

We have recently concluded our review of the Sarasin IE Multi Asset Dynamic Fund and retained our Tier 3 rating.     Sarasin is a well-managed business with relatively high levels of employee ownership, although there are some elements of the business structure where we have subtle conce...

We recently concluded our review of the Sands Capital Global Growth Fund (& BCI Feeder equivalent), which we have rated Tier 1. This rating marks the culmination of a fund search process which began in early 2022 where we identified the need to expand the range of options available for investors...

We recently completed our reviews of the Camissa Global Equity and Islamic Global Equity funds and have rated both funds Tier 3.   Camissa is a long-standing independent asset management business with a fund range spanning from local multi-asset to global equity. We have and continue to rate t...

We recently concluded our review of the Orbis Global Equity fund and have decided to retain our Tier 2 rating. Orbis is a long-standing fund manager with many strong attributes in place which support long term active fund management according to their contrarian investment approach. In 2016, we ev...

We have concluded reviews on a range of funds across several managers recently. The reviews form part of our ongoing monitoring of rated funds, which undergo a formal reviews periodically. This commentary below summarises our views on the funds, highlighting any updates and changes to our outlook an...

We recently completed our review of the Kagiso fund range, and we have retained all of the ratings on the funds that we cover. Below, we provide a summary.    Fund Rating  Kagiso Equity Alpha Fund  Tier 1  Kagiso Balanced Fund  Tier 2  Kag...