BUSINESS WATCH WITH MICHAEL AVERY
WATCH: Normalising the asset management industry
Michael Avery and guests discuss transformation in the SA industry
The first edition of the BEE.conomics Annual Transformation in South African asset management survey was published in 2009 at which time there were just 14 black-owned asset managers who, combined, managed R91bn.
Fast forward 13 years and today there are 51 black-owned asset managers managing close to R700bn, indicating that black market share has been increasing steadily. Certainly, in the past couple of years the number of black private equity fund managers has grown.
AlexForbes, SA’s largest investments multi-manager, has launched a transformation policy to make an impactful contribution to the sustainability and relevance of the asset management industry in SA. The policy has set transformative criteria for supporting and selecting asset managers and stockbrokers with an emphasis on gender diversity to ensure more black women are included in critical strategic and investment decision roles.
Michael Avery spoke to Lebo Thubisi, head of research at Alexforbes; Shafeeq Abrahams, executive CE and principal officer of EPPF; and Duane Cable, head of SA quality capability and portfolio manager at Ninety One
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