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50 years of investing in an evolving ecosystem
50 years of investing in an evolving ecosystem
Allan Gray Unit Trust Management
Q2 of 2024 | 11 months ago
Over the past 50 years, the South African asset management industry has evolved substantially. When Allan Gray was founded in 1973, the industry was grappling with increasing prescribed asset requirements as the government sought to fund budget deficits, the aftermath of a stock market crash in 1969 and rising inflation and interest rates. Today, and despite not growing in US dollar terms over the last decade, the South African pension market is ranked 11th largest in the world. Excluding the Public Investment Corporation (PIC), and the life insurers, we estimate that the total size of the private asset management industry is c. R6tn.
Asset manager Coronation saw a need for a shariah-complient leaning asset managemnt and in 2002, founded a standalone manager Kagiso AM (now Camissa AM).
Ninety One Fund Managers derived their name from the year it was founded, 1991, initially called Investec Asset Management.
Prudential Fund Managers was founded in Cape Town in 1994 by Graham Mason, who is its chairman now as of 2023.
