Tag Archive: Fund Managers

Weekly Thoughts 29 May 2020

In the last couple of weeks, via live internet presentations and discussions, I have listened to Ninety One (Investec) twice, Allan Gray, Bridge Fund Managers, Sarasin from London and had personal one-on-one’s with my Coronation consultant and one of the fund managers from Marriott.

I think I have mentioned before, that Bridge Fund Managers are the first group that have come along doing the same thing that Marriott does: investing with the same approach and offering an income-focused outcome. I have been listening and watching and also been visited by them. However, just because there’s a new kid on the block doesn’t mean one goes to play at their house. If they have no new or different toys for me to play with, there is no reason for me to use them. But it’s my job to watch and see, and if and when they offer anything better, then I should be ready to use.

My one-on-one with the Marriott Fund Manager was to discuss and thrash out different fund mixes I have been researching and testing to optimize income. Mixing and matching four of their funds in the different products I can use them in, in order to get the best, or most appropriate, outcome to use for you.

Monday we ‘progress’ to a new number. And queues at every bottle store around the country. Tito will be happy with the increased revenue.

Weekly Thoughts 7 June 2019

I attended a day at Coronation’s Head Office in Cape Town this past week. We were a bunch of advisors meeting and listening to their clever people, the bosses and fund managers. They all have these funny words at the ends of their names: BBusSci, BScEng etc. I counted that they all have words made up of eight to 18 letters after their names. Some should probably add AdHd. The best speakers were the economist, she was informative and entertaining, and then the Chief Investment Officer himself.

In the evening they took us all out to one of those fancy restaurants where you choose from two items per course and where the food takes up 3 cm by 3 cm on a large plate. Way beyond my culinary culture. The KZN guys secured a table for ourselves at the dinner with our local consultant joining us. The fund manager who is the head of fixed interest also joined us and was sitting opposite me. Fixed Interest comprises the asset classes of Money Market funds and Bonds. A brief explanation: The Reserve Bank sets the interest rate for lending money in the country. Investment Managers can invest into various Bank’s Money Market funds and give you a rate of interest on your money. They also buy bonds issued by various corporates including governments. They might buy a bond that is to last for two years (the money stays here for two years) and the rate of interest paid to the bond holder is, say, 8.3% per annum, for example. These are fixed rates of interest. Hence the label ‘Fixed Interest’. These sort of assets will form a part of your Balanced Funds within your unit trust investments.

Anyway, so I was sitting opposite the guy who heads up this team at Coronation. A good guy. Much more fun at dinner than he was when presenting. There he was totally boring. I said to him that what us guys (ladies included in the term) listened to today, was information overload and that most of us would not have understood 50% of what they spoke about. On a deep technical level that is. I said that what is always important to me, is for me to get a feel that you know what you’re talking about and that you guys look after my client’s money in a very good and conscientious way. He got that. And this is what I came away with. That Coronation still does a very good job of looking after your money, have very clever people doing it, have a very stable staff complement and do what they are supposed to do well, never compromising.

As a teacher, the one problem I have is that most speakers don’t know how to get to the point and not go on for too long. But this is a skill they are not expected to have neither employed for. Just me being difficult!!

Weekly Thoughts 21 July 2017

I had alone-time over lunch on Wednesday this week with Marriott’s CEO. We talked stability of their business, I requested a function that I’d like to see for clients on one of their ‘products’, (I have already been told IT are working on this) then we talked some nonsense and finally agreed upon another lunch soon when he’d bring along two fund managers. They were disappointed not to crack an invite for this one. I had wanted to have a chance to chat alone.

Also this week, a consultant from a relatively new, or young, asset manager came to see me. Or rather I should say I agreed to give him time. He found me via my website and said he thought I fitted in with who they were looking for to work with. They have quite a different mandate by which they select stock, companies, to buy in their unit trust funds. But they don’t have a long enough track record yet. I’m interested enough in their difference to watch them for another year or two before I make a decision to use them for clients.

Weekly Thoughts 10 February 2017

I’ve had a couple of good conversations with various unit trust fund management people recently. Last week I managed to have breakfast alone with the CEO of Marriott, with whom I discussed yields, the daily pricing of unit trust funds and a couple of other matters. This was very worthwhile.

This week I listened to one of Foord’s international fund analysts. They had brought him out from Singapore, where Foord runs an international office. What he had to say was very interesting, although he was a bit dull to listen to! Then on Monday coming I will be having breakfast alone with the very British gentlemen who comes out from Sarasin Fund Managers in London to visit us. Always nice to meet with him.

Important conversations these.