STEPHEN CRANSTON: Fund managers worth watching
It makes sense to choose from outside the big three fund managers for the sake of diversification
A huge amount of trust has to develop before a fund manager can expect to earn large pension mandates. And much as I, as a trustee, wish to see some erosion of the extensive market share of the big three — Allan Gray, Coronation and Investec — I am reluctant to experiment with our members’ money. But for the sake of diversification it makes sense to choose a selection from outside the big three for discretionary investments. Last week’s Meet the Managers conference in Sandton gave exposure to many funds little known to the public. I know that Northstar as an asset manager was started by former PSG Asset Management head Adrian Clayton when he bought a financial planning practice. I also know Northstar is part of RMI Investment Managers, but I don’t see its logo in the marketing. That’s a mistake; surely endorsement by the highly successful RMB/RMI group can only help the frankly obscure Northstar. In effect you give a blank cheque to the Northstar Global Flexible Fund, as it is entit...
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