Stanlib poaches Momentum’s star property fund manager
Nesi Chetty joins the largest property stock investor in SA, after nearly a decade with Momentum
In a coup for SA’s biggest property fund manager, Stanlib has poached top property executive Nesi Chetty from Momentum, as it looks to beef up its investment team at a time when the sector is ripe for consolidation and real estate companies are buying offshore assets. Stanlib, which has investments in listed property stocks worth R17bn, said Chetty, who has 18 years’ experience and has been head of listed property at Momentum since 2010, will join the group in June as a senior portfolio manager. He will be second in command after Keillen Ndlovu, who is head of listed property funds at Stanlib. Nicolas Lyle of RMB Westport will also join Stanlib, taking up the role of senior analyst. Chetty managed investments in listed property, financial services and retail stocks. He was head of listed property at Momentum since 2010, where his responsibilities included asset allocation, research, strategy and fund management of more than R11bn in assets. Momentum won three Raging Bull Awards in 2...