WEALTH WATCH
STEPHEN CRANSTON: Two black managers vie for best equity fund in unit trust Oscars
In the unit trust award season, the Golden Globes (or should that be the Golden Balls?) are already history. It will soon be time for the Oscars, namely the Morningstar Fund Awards to be held in Cape Town on February 28. In contrast to the 100-odd Golden Balls awarded, Morningstar is notoriously tight-fisted. There are just seven sector awards and no awards for popular sectors such as flexible income or property, though an award is given for the moribund bond sector. But if the detail can be criticised, it makes sense to focus on the multi-asset sectors, as these are the sectors that dominate client inflows. It is interesting to see that the best South African equity fund is contested between two black managers. Malungelo Zilimbola at Mazi Capital is a previous winner. He doesn’t call himself a momentum manager, buying previous winners. But his portfolio might indicate otherwise — 20% of Mazi Equity is made up by Naspers. To be fair he has also invested in fallen angels such as Fosc...
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