Joburg’s edgy equity funds
There is a growing hub of managers in Joburg that is taking on those in Cape Town, and the majority of BEE managers, such as Mazi Capital, are based in Gauteng
Cape Town is still the centre of the SA fund management industry, and chances are that when you choose an equity fund it will be one of the large players such as Investec, Allan Gray or Coronation. But there is a growing hub of managers in Joburg that are taking them on, and the majority of BEE managers, such as Mazi Capital, are based in Gauteng. This week we look at five funds run from Joburg. It might not have some of the physical attractions of Cape Town but it is much closer to the majority of head offices and the majority of clients, whether institutional or high net worth. Sasfin is establishing an interesting niche operation based around the old Frankel Pollak private client business it acquired. Most of us still associate Sasfin with leasing photocopiers, but in a few years, who knows? Sasfin is likely to build a more institutional profile since Errol Shear joined in from Absa about two years ago. His performance at the Absa Absolute Fund (and at a similar fund at Stanlib b...