Five years ago a new generation of black-owned fund managers was emerging. At the time they did not want to be seen as picking up crumbs FIVE years ago a new generation of black-owned fund managers was emerging. At the time they did not want to be considered emerging managers picking up the crumbs. Renaissance (now Afena), a breakaway from Investec, picked a European name to emphasise that they were out to take on their old shop, Coronation, and the rest.Even today, some of the largest black fund managers, including Afena and Argon, refuse to appear in the Alexander Forbes BEE survey as they believe asset consultants do not take the managers in this survey seriously. But there was a definite change in tone at last week's Association of Black Securities & Investment Professionals (Absip) conference on empowerment. In bouts of rent-seeking there were numerous calls for quotas to be introduced to ensure a "fair share" of pension fund assets for black managers.I can understand their fr...
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