Weekly Thoughts 22 February 2014

On Monday this past week a colleague from my investment club and I had breakfast alone with our very correct British gentlemen who comes to see us from Sarasin Asset Managers in London. We chatted about the usual economic stuff as well as Sarasin’s fund performances. I decided to re-visit the due diligence issues that I touch on periodically and asked again about the ownership of Sarasin, their house view and buy list approach, whether the fund managers must have their own money in the funds they manage etc. I was happy with the answers. Interestingly, half of any bonus received by a fund manager, has to be put back into their own fund that they manage.

I have visited the physical premises of the dominant asset management houses that I use here in south Africa. For a while I’ve been thinking that I should do this overseas too. A visit to London would allow me to visit two such companies while a hop across to the Isle of Man would take me to another one plus the international company that I have begun to talk to around client’s international/offshore trusts. I am beginning to seriously think that I need to do this trip.