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Connect the dots

The fourth Allan Gray Investment Summit featured fresh perspectives on financial and economic issues from investment heavyweights, best-selling authors and future-focused thought leaders.

Keynote speakers

Dominic Frisby

Financial journalist (UK)

The Bitcoin debate

As world debt mounts, cryptocurrencies and other fixed-supply assets may become more valuable. But are they the road to riches or fool’s gold?

Kevin Lings

STANLIB

A candid look at South Africa’s prospects

There are five game changers for South Africa Inc. in a post-pandemic world. Discover what they are.

Morgan Housel

The Collaborative Fund (USA)

The psychology of money

Understand the difference between getting rich and staying rich, and discover how your behaviour influences your investment success.

Thabi Leoka

Naha Investments

An economy in need of an injection

The South African economy is like a Ferrari with the engine of an Uno. This is a frank take on the issues and opportunities.

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How to protect what you have

Duncan Artus

Allan Gray

A divided inflationary world

The world is probably going to be very different in 10 to 15 years. How can you put yourself on the right side of long-term trends and extremes?

Malungelo Zilimbola

Mazi Asset Management

Cashing in on the commodity boom

Once US interest rates go up, commodity prices are likely to fall. Can South Africa’s economy cash in before the end of the party?

Delphine Govender

Perpetua

Investing at a tipping point

South Africa is at an economic, social, political, environmental and technological crossroads. What can investors do to create a more inclusive economy?

Marius Oberholzer

STANLIB

One (or two) big risk(s)

Are there enough green shoots in terms of economic reform to shift the narrative in the country?

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It’s a great time to make money in South Africa

Rory Kutisker-Jacobson

Allan Gray

It’s the price you pay that matters

Find out why buying a good stock at a bad price is usually worse than buying a bad stock at a good price.

Patrick Mathidi

ALUWANI Capital Partners

Picking the winners and avoiding the losers

The local market offers fantastic value for those who know exactly how to spot a bargain. Learn why getting it wrong can leave you with a lemon.

Sarah-Jane Alexander

Coronation

South Africa: Too cheap to ignore

With low starting prices for local bonds and equities, weigh up if there is room to be rewarded for looking beyond the negative sentiment in South Africa.

David Knee

Prudential

The asset allocation dilemma

In the face of an expensive US market, South African equities look incredibly attractive. Discover why the real winners will be those who employ their capital wisely.

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The world is changing – how to invest

Tim Garratt

Baillie Gifford (UK)

Investing amid seismic change

There are several revolutions taking place in the world. Get insight into what they are and discover why capital markets may be massively underestimating the impact.

Philip Saunders

Ninety One (UK)

The road to 2030

Once-in-a-generation opportunities lie ahead. Where should you put your money as a forward-thinking investor?

Graeme Forster

Orbis (Bermuda)

Survival of the cleanest

Many companies have been able to rake in profits at the expense of society, without any real consequences, but how much longer can they get away with it?

Katherine Davidson

Schroders (UK)

Corporate Karma

ESG is a hot topic right now, but will anyone be talking about it in 10 years’ time? Here’s one view to consider.

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Investing responsibly

Speakers

  • Raine Naudé Allan Gray
  • Jon Hale Morningstar (USA)
  • Duke Sasaji Orbis (Canada)
  • Graham Sinclair SinCo (USA)

Various

ESG megatrends

The world is changing: Take a hard look at how climate change, the future of work, urbanisation and global politics may impact your investments.

Speakers

  • Raine Naudé Allan Gray
  • Ndabe Mkhize Eskom Pension and Provident Fund
  • Ben Preston Orbis (UK)
  • Graham Sinclair SinCo (USA)

Various

ESG insights

Asset managers and owners share insights from their ESG journeys and explore the factors that are shifting their perspectives on sustainable investing.

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Allan Gray Aluwani Bailie Gifford
Coronation
Mazi
Ninety One
Orbis Perpetua Prudential Investment Managers
Schroders Stanlib
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Dominic Frisby
Financial journalist (UK)

... Dominic is the worlds only financial writer and comedian. He writes a weekly column on matters financial and economic for MoneyWeek and has contributed to the likes of The Guardian and The Independent, among others. Dominic has authored three books, including Bitcoin: The Future of Money? and Daylight Robbery: How Tax Shaped Our Past and Will Change Our Future. In 2012, he co-wrote and narrated Four Horsemen, an acclaimed documentary about the global financial crisis. Dominic is the former CEO of privacy tech investment company, Cypherpunk Holdings.

Morgan Housel
Partner, The Collaborative Fund (USA)

... Morgan is a partner at the Collaborative Fund, a US venture capital firm. Previously, he was a columnist at The Wall Street Journal and The Motley Fool. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and was selected by the Columbia Journalism Review for the Best Business Writing anthology. In 2013 and 2016, he was a finalist for the Gerald Loeb Award and Scripps Howard Award. He has authored three books.

Thabi Leoka
Economist, Naha Investments

... Thabi is the founder of economic consulting and advisory company Naha Investments. She started her career as an economist at Investec Asset Management in South Africa and London, and has worked for Barclays Capital, Standard Bank and Renaissance Capital. Thabi was appointed to the Presidential Economic Advisory Council in 2019, is a member of the advisory board of Deloitte SA, and chairs the Stats SA councils Economic Committee. In 2018, the Minister of Finance appointed her to review the zero-rated products to support the poor and vulnerable in the country. Thabi holds an MA from Wits University, an MSc in Economics and Economic History from the London School of Economics and a PhD in Economics from the University of London. In 2017, ABSIP named her the Economist of The Year. She writes for various local and international publications.

Ndabe Mkhize
Chief investment officer, Eskom Pension and Provident Fund

... Ndabe joined the Eskom Pension and Provident Fund in 2014 as the deputy chief investment officer and was appointed as the chief investment officer in 2016. Prior to joining the Eskom Pension and Provident Fund, he held positions at the Coronation Property Equity Fund, and worked in the direct real estate industry and in the STANLIB Listed Property team. Ndabe is the chairman of IG South Africa. He holds a BSc in Actuarial Science from the University of Cape Town and is a CFA and CAIA charterholder.

Duncan Artus
Chief investment officer, Allan Gray

... Duncan was appointed chief investment officer of Allan Gray in 2020. He joined the firm in 2001 and was appointed as a portfolio manager in 2005. He manages a portion of the equity, balanced and stable portfolios. He is also a director of Allan Gray Group Proprietary Limited. Duncan holds an Honours degree in Business Science and a Postgraduate Diploma in Accounting from the University of Cape Town and is a CFA and CMT charterholder.

Malungelo Zilimbola
Chief executive officer, Mazi Asset Management

... Malungelo is the chief executive officer of Mazi Asset Management and has worked in the investment industry for over 21 years. He founded Mazi Asset Management in 2006. The business now manages more than R35 billion. Malungelo's qualifications include a BSc (Honours) and a BCom (Honours) from the University of Cape Town. He completed the Owner/President Management (OPM) programme at Harvard Business School, is a fellow of the Aspen Global Leadership Network and a member of YPO. He serves on the board of ASISA and is a member of the Nelson Mandela Foundations investment committee.

Delphine Govender
Chief investment officer, Perpetua

... Delphine is co-founder and chief investment officer of Perpetua Investment Managers. She is responsible for managing assets across all listed asset classes, including domestic and global equities, domestic and global multi-asset class and fixed income. Delphine has over 23 years direct investment experience. Previously, she spent close to 11 years at Allan Gray, where she was a portfolio manager and a director. She holds a BCom and a Postgraduate Diploma in Accounting from the University of KwaZulu-Natal. Delphine is a CA(SA) and a CFA charterholder.

Marius Oberholzer
Head of Multi-Strategy, STANLIB

... Marius joined STANLIB in 2013 as co-head of the Absolute Return team (now Multi-Strategy Investments) and took over as head of the team in 2015. He started his investment career at TT Internationals office in London before being seconded to Hong Kong to help establish the firms Asian-based investment capabilities. He later returned to South Africa and was a managing partner at Sarala Capital before joining STANLIB. Marius holds a BCom from Stellenbosch University and an MSc in Global Finance from Stern School of Business at NYU and the Hong Kong University of Science and Technology. He also holds the IMC qualification from the UKs CFA Society.

Rory Kutisker-Jacobson
Portfolio manager, Allan Gray

... Rory joined Allan Gray as an equity analyst in 2008. He was appointed as a portfolio manager in 2017 and manages a portion of the equity, balanced, frontier markets equity and African equity portfolios. He holds a BBusSc degree in Economics and Finance from the University of Cape Town and is a CFA charterholder.

Patrick Mathidi
Head of Equities and Multi-Asset Strategies, ALUWANI Capital Partners

... Patrick is a founding member and the head of Equities & Multi-Asset Strategies at ALUWANI Capital Partners. He has been instrumental in creating the investment process that has placed the ALUWANI Domestic Equity Fund among the best performing in South Africa. Patrick has managed equity portfolios for more than 23 years and has worked for Deloitte, Investec Asset Management, Andisa Securities and Momentum Asset Management. He holds a BCom (Honours) in Accounting and Finance from Rhodes University and an MSc in Finance and Investments from the University of London.

Sarah-Jane Alexander
Portfolio manager, Coronation

... Sarah-Jane is a portfolio manager in the South African Investment team at Coronation. She currently co-manages the Coronation Balanced Plus, Equity and SA Equity unit trust funds and is a former manager of the Coronation Industrial unit trust fund. Prior to joining Coronation in 2008, she formed part of the Investment team at JP Morgan Asset Management in London, where she was a European research analyst and then co-manager of their UK Smaller Companies Fund.

David Knee
Chief investment officer, Prudential

... David joined Prudential in South Africa as head of Fixed Income in 2008 and was appointed chief investment officer in 2016. He is currently the joint portfolio manager of several Prudential funds and a member of Prudentials Asset Allocation Committee. David previously worked for the Prudential Group in London as part of the Fixed Income team. Before that, he managed fixed income portfolios for a London-based asset manager and worked as a fixed income economist for an investment bank. David holds a BSc in Economics from the London School of Economics, an MSc in Economics from Birkbeck College and is an Associate of the Society of Investment Professionals.

Tim Garratt
Client Service director, Baillie Gifford (UK)

... Tim joined Baillie Gifford in 2007 and is a Client Service director. He became a partner of the firm in 2016. He currently oversees the institutional client base that invests in Long Term Global Growth, Baillie Giffords most concentrated global equity strategy. His client responsibilities span the UK, North America and Asia. Tim chairs the China Steering Committee, co-chairs the firms Environmental Sustainability Group and is a member of the Investment Risk Committee. Prior to joining Baillie Gifford, Tim worked at Arthur Anderson and AT Kearney, where he managed several private equity projects. Tim graduated with an MEng in Aeronautical Engineering from the University of Bristol.

Philip Saunders
Co-head of Multi-Asset Growth, Ninety One (UK)

... Philip is co-head of Multi-Asset Growth at Ninety One. He is also co-portfolio manager for the Global Strategic Managed and Risk Managed Strategies and has macro-focused research responsibilities. He began his investment career in 1981 as an analyst at Guinness Mahon & Co Limited, assuming management responsibility for the companys managed currency funds in 1984. In 1987, he became a founding director of Guinness Flight Global Asset Management, which was later acquired by Ninety One in 1998, and led its successful Global Fixed Income team. In 2000 he joined the Multi-Asset team, becoming head in 2004. Philip holds an MA in History from the University of Cambridge.

Graeme Forster
Portfolio manager, Orbis (Bermuda)

... Graeme joined Orbis in 2007. He is responsible for the Orbis International Equity and Optimal Strategies and is a director of Orbis Holdings Limited. Graeme holds an MA (Honours) degree in Mathematics from the University of Oxford and a PhD in Mathematical Epidemiology and Economics from the University of Cambridge. He is also a CFA charterholder.

Katherine Davidson
Portfolio manager, Schroders (UK)

... Katherine joined Schroders as a research associate on the Global and International Equities team in 2008. She is currently the co-portfolio manager of the Global Sustainable Growth Strategy and the global sector specialist responsible for the Consumer Discretionary sector. She holds a BA in Philosophy, Politics and Economics from the University of Oxford and is a CFA charterholder.

Kevin Lings
Chief economist, STANLIB

... As STANLIB’s chief economist, Kevin is responsible for domestic and global economic research and forecasts. He joined Liberty Asset Management, STANLIB’s predecessor, as an economic analyst in 2001. Previously, he worked at JPMorgan Chase & Co., where he was a member of the Macroeconomic Research team, and at Nedcor Group, where he was a senior economist. Kevin holds a BCom (Honours) in Economics from the University of the Witwatersrand and lectured Economics part-time at Wits Business School from the mid-1990s to mid-2000s. He is also a sought-after media commentator.

Raine Naudé
ESG analyst, Allan Gray

... Raine first joined Allan Gray in 2011 as a CA trainee and is currently an ESG analyst in the Investment team. She holds a BBusSc (Honours) in Finance and a Postgraduate Diploma in Accounting, both from the University of Cape Town. Raine is a qualified Chartered Accountant.

Jon Hale
Global head of Sustainability Research, Morningstar (USA)

... Jon has been the global head of Sustainability Research at Morningstar since 2016. He oversees the team's operations, thought leadership, and manager research coverage across active, passive, fund-of-funds, and alternative investment strategies. Jon previously held various roles in the Morningstar group. He holds a BA in Political Science and Governance from the University of Oklahoma and a PhD in Political Science and Governance from Indiana University Bloomington. Jon is a CFA® charterholder.

Duke Sasaji
Business analyst, Orbis (Canada)

... Duke joined Orbis in 2012 and is the lead analyst in the Business Insights group. He is responsible for researching areas of key importance to the firm to help shape its overall strategy. Recently, ESG and responsible investing have been among his areas of focus. Previously, he worked as a Japanese convertible bond trader in Tokyo. Duke holds a BCom from the University of British Columbia.

Graham Sinclair
ESG architect, SinCo (USA)

... Graham is the ESG Architect and global project leader at SinCo, a sustainable investment consulting firm he founded in Boston in 2006. The firm offers strategic support to institutional investors and investment stakeholders. He is also the host of the ESG and Coffee podcast. Previously, Graham chaired the Prudential Assets Working Group of the Responsible Investment Sub-Committee at ASISA and was the co-founder of the Africa Sustainable Investment Forum project team. He lectures on sustainable investment at Harvard Extension School and Villanova University College of Engineering. Graham holds a BCom and an LLB from the University of KwaZulu-Natal and an MBA in International Business from Villanova University.

Ndabe Mkhize
Chief investment officer, Eskom Pension and Provident Fund

... Ndabe joined the Eskom Pension and Provident Fund in 2014 as the deputy chief investment officer and was appointed as the chief investment officer in 2016. Prior to joining the Eskom Pension and Provident Fund, he held positions at the Coronation Property Equity Fund, and worked in the direct real estate industry and in the STANLIB Listed Property team. Ndabe is the chairman of IG South Africa. He holds a BSc in Actuarial Science from the University of Cape Town and is a CFA® and CAIA® charterholder.

Ben Preston
Portfolio manager, Orbis (UK)

... Ben joined Orbis in 2000. Based in London, he leads the Global Sector Investment team and is one of the stockpickers for the Orbis Global Equity Strategy. Ben holds an MA (Honours) in Mathematical Sciences from the University of Oxford and is a CFA® charterholder.