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50 years of investing in an evolving ecosystem
Allan Gray Unit Trust Management
Allan Gray Unit Trust Management
Q2 of 2024 | 2 years 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.
Mvunonala Investments in 2017 was embroid in a scandal that involve the dissappearing of huge monies in Bophelo Beneficiary Fund. It never recover from that scandal.
Contego Asset Management s many unit trusts were consolidated into existing Anchor Capital unit trusts after being acquired by Anchor Capital in 2017.
Sygnia traces its roots when the asset manager African Harvest buys IQvest of Madga Wierzycka.
