STEPHEN CRANSTON: In investment-speak, style isn’t, obviously, style
Two decades ago investment style was the talk of SA. This referred not to high profile managers wearing Prada, but to the approach managers took to buying shares. They were either value managers, who looked for shares trading at a discount, or growth managers, who were more concerned about the potential for future returns.
An indication of how much the wheel has turned is the recent merger of Nedgroup’s Growth and Value funds. The merged fund, to be called SA Equity, will be run by Laurium, a style agnostic house headed by Murray Winckler, former head of Deutsche Securities. Laurium already ran the Nedgroup Growth Fund after the previous manager, Electus, was disbanded. Laurium was recently strengthened by a merger with Tantalum, which brought experienced fund managers such as Rob Oellermann and bond queen Melanie Stockigt on board...
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