STEPHEN CRANSTON: Long-time fund manager shifts towards foreign equities and away from SA
Gail Daniel, who has been at Ninety One from the start, has grown her Managed Fund by 9.1% in the past year
There are many flavours of investment at Ninety One. You can buy value funds, quality funds and quant funds. But the keeper of the flame of Ninety One, from its early days as Investec Asset Management, is Gail Daniel. Daniel, then Gail Boon, joined the business in its very early days in 1991. She was a useful tennis player and could easily have ended up on the professional circuit.
At the time female fund managers were rare. She and Anet Ahern were the only ones with a public profile. But while Ahern has been at a number of establishments, from Allan Gray to Syfrets, BOE, Sanlam and now PSG, Daniel has remained at Ninety One. It is not hard to see why. She struck a deal with Ninety One founder Hendrik du Toit that she would stick to managing money. Du Toit realised he could not compete with Daniel as a money manager, and after a couple of years focused entirely on building the business. Daniel once said that sitting in committee deciding what coffee machine to buy was not for ...