LETTER: Asset managers’ expertise is what matters, not skin colour
There was yet another bleat about the asset managers "club" in the article, History locks black asset managers out of the club (October 26). There is an admission that “clients choose the bigger, well-known companies” but blames a “club” for the lack of transformation. The so-called club is a hardnosed bunch of experts whose investment acumen helps them survive in the fiercely competitive environment. Their successes and failures have nothing to do with their skin colour. The VBS Mutual Bank scandal is an example of what happens when efforts are made to persuade “clients” to put their business in a direction advocated on a racial preference. The bad history of racial bias cannot be wiped out by perpetuating racial quotas or squealing about perceived discrimination. Some of the concocted “structural challenges” referred to in the article are meaningless babble. Take for example the "vertical integration of incumbents”. Is that a reference to supply chain structures in the manufacturi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.