There is pressure for pension funds to hire more black-owned fund managers. But it remains a shallow pool. Alexander Forbes publishes a BEE Manager Watch, but it would be a very short survey if it included only 100% black-owned and 100% black-managed businesses.

Take All Weather Capital, where half of the executive and half the portfolio managers are white. Only Cachalia Capital and Legacy Africa have a 100% black staff. Prescient, founded by Herman Steyn, could never be described as a BEE manager, but it made a marked transition after it received a capital injection from former Liberty CEO Thabo Dloti. Yet half of its executives and almost half its portfolio managers are white...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now