Well-known manager Adrian De Fay is joining Cape Town-headquartered Investec Asset Management, following the takeover of his business De Fay Fund Management. He will be managing the Investec Equity and Investec Equity Hedge Fund, with total assets under management of more than R4.4 billion, freeing up current manager Gail Daniel to focus on the Investec Managed Fund, which she has run successfully for seven years.
Hedge fund managers are at a crossroads. That's how one manager we spoke to recently expressed the conundrum some in the industry now face. Since the credit crisis erupted, a mammoth realignment in global markets has understandably left many with a still-diminished appetite for risk.
Deutsche Bank has made four senior appointments to its South African equities platform, reinforcing its commitment as a key emerging markets investment bank.
Ex-SIM man Luvo Tyandela has joined Clade Investment Management as CEO, teaming up with Carl Isernhinke and Gavin Goldblatt to lead the Cape Town based investment company.
Jacques Pretorius and Leonard Steenkamp have moved to new offices in Houghton, Johannesburg, having taken full ownership of T Capital, following the unbundling from the parent company T Sec after the sale of its stockbroking division to PSG Konsult earlier in the year.
Albert Botha has joined Belville-based Atlantic Asset Management as a fixed income analyst, and will be supporting CIO Arno Lawrenz and fixed income strategist Erik Nel.
Invest AD, the new brand of the Abu Dhabi Investment Company, is pushing ahead with its strategy to attract global investors to the Middle East and Africa, with the launch of four equities funds this year.
Cape Town-based Aylett & Co. Fund Managers now has a 12-month track record with its Aylett Hedge Fund, a conservative long/short equity strategy investing in the South African market.
Johannesburg-based multi-manager 27four Investment Managers is expanding with the recent appointment of Bhavesh Patel as an investment analyst, joining the firm’s experienced investment team which includes Fatima Vawda, Given Phaladi and Vic du Preez. Patel was most recently a capital analyst at ABSA Capital, where he spent a year, and before that he was with NMG Consultants and Actuaries. He has an honours degree in actuarial science from Wits.
London-based Insparo Asset Management is stepping up marketing efforts with its Africa and Middle East fund, having successfully navigated its first year in turbulent market conditions while attracting some high-profile backing.