WEALTH WATCH
STEPHEN CRANSTON: Stanlib intent on restoring its reputation in the equities sphere
Manager at the helm will use what he calls real-world investing to get an edge over rivals
Are we ever going to see Stanlib become a serious competitor to the likes of Allan Gray, Coronation and Investec? When SCMB asset management merged with Liberty Asset Management in 2002 it was hoped that combining the strong marketing at SCMB and the investment performance at Liberty would lead to a highly competitive fund manager. Mergers of big managers generally don’t work well — the merger of UAL and Syfrets to form NIB Asset Management being the most notorious. Investec’s merger with Fedsure AM worked as Investec boss Hendrik du Toit simply employed a couple of key people and left the corpse to rot. Stanlib has some centres of excellence. It was the first large manager to spot the opportunity for listed property investment. And it remains the go-to manager on fixed income, through the — let’s be kind and call them seasoned — duo of Henk Viljoen and Ansie van Rensburg. Some top managers such as Sidney Place, Errol Shear and Lo Giyose have left Stanlib. But one of the other more ...
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