WEALTH WATCH
STEPHEN CRANSTON: Global fund pair a yin and yang combination for covering bases
First, the Ackerman family was famous for its chain of family clothing stores under patriarch Gus, then for Pick n Pay supermarkets under his son Raymond. Raymond’s brother Bruce took a different route, becoming head of the wealth management investment unit of the UK’s Lloyds Bank. But, he eventually set up his stall, not to sell T-shirts or baked beans, but global unit trusts, co-managing the Foord International Trust with Dave Foord initially. Bruce Ackerman shares the polite and well-mannered approach of his brother, which made him the perfect foil for the brilliant but often brusque Foord. The success of that fund took me by surprise. I once assumed only managers with offices around the globe, such as Fidelity, Franklin Templeton and Capital Group, could run global funds. So, I was astonished that Ackerman could do so well running the fund, not from Johannesburg or Cape Town, but sleepy Franschhoek.A month ago, Ackerman re-emerged — after three years of planning — as the co-mana...
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