The Top 20 Best Asset Managers in South Africa are the backbone of the country’s investment landscape, managing trillions of rands and shaping the financial futures of countless individuals and institutions.
According to the 2022 Alexforbes Manager Watch Survey, the industry has seen remarkable growth, with assets under management (AuM) more than doubling over the past decade. But who are the key players, and what sets them apart? Let’s dive in.
What Makes a Top Asset Manager?
Asset management is more than just handling money—it’s about delivering consistent returns, managing risk, and adapting to market trends. The Top 20 Best Asset Managers in South Africa excel in these areas, offering a mix of local and offshore investment opportunities, robust ESG (Environmental, Social, and Governance) strategies, and strong BEE (Black Economic Empowerment) credentials.
The Heavyweights: South Africa’s Largest Asset Managers
The industry is dominated by a few key players, with the top 10 managers controlling roughly two-thirds of all assets. Here’s a snapshot of the leaders:
- Ninety One: With R779.5 billion in AuM, Ninety One remains the largest private asset manager in South Africa. Known for its global reach and strong local presence, it continues to set the benchmark for performance.
- STANLIB Asset Management: Backed by Standard Bank and Liberty Life, STANLIB manages R614.8 billion, offering a wide range of funds across various categories.
- Sanlam Investment Management (SIM): Part of the Sanlam Group, SIM manages R546.9 billion, leveraging its extensive network and expertise in both retail and institutional investments.
Rising Stars: Boutique Managers Making Waves
While the big names dominate, smaller boutique managers are carving out their own space. Firms like Fairtree, Truffle, and Aylett have consistently delivered top-performing funds, often outperforming their larger counterparts.
- Fairtree: With around R120 billion in AuM, Fairtree boasts some of the best-performing funds across multiple categories, including balanced and equity funds.
- Truffle: Managing approximately R80 billion, Truffle has built a reputation for excellence, particularly in multi-asset and equity funds.
- Aylett: A smaller player with a focus on quality over quantity, Aylett’s balanced and equity funds are among the best in the country.
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Key Trends Shaping the Industry
- BEE and Transformation: The push for transformation is evident, with all top 20 managers being Level 1 BEE contributors (except Fairtree at Level 3). Black-owned and managed funds have seen significant growth, reflecting the industry’s commitment to inclusivity.
- ESG Focus: Environmental, social, and governance factors are now a priority for many managers, aligning with global trends and client demands.
- Offshore Investments: Despite regulatory changes allowing up to 45% offshore exposure, many managers remain cautious, preferring the relative stability of South African assets.
The Full List: Top 20 Best Asset Managers in South Africa
Here’s a breakdown of the top performers based on the latest Alexforbes survey:
| Rank | Asset Manager | Total AuM (R billion) | BEE Status |
|---|---|---|---|
| 1 | Ninety One | 779.5 | Level 1 |
| 2 | STANLIB AM | 614.8 | Level 1 |
| 3 | Sanlam Investment Management | 546.9 | Level 1 |
| 4 | Coronation | 519.7 | Level 1 |
| 5 | Allan Gray | 471.9 | Level 1 |
| 6 | Old Mutual Investment Group | 373.2 | Level 1 |
| 7 | Alexander Forbes Investments | 345.8 | Level 1 |
| 8 | Nedgroup Investments | 326.1 | Level 1 |
| 9 | Sanlam Multi Managers | 258.8 | Level 1 |
| 10 | Taquanta | 234.3 | Level 1 |
| 11 | M&G Investments | 201.0 | Level 1 |
| 12 | Momentum MoM | 190.9 | Level 1 |
| 13 | Futuregrowth | 186.1 | Level 1 |
| 14 | Momentum AM | 171.1 | Level 1 |
| 15 | Old Mutual Multi-Managers | 123.1 | Level 1 |
| 16 | Fairtree Asset Management | 114.0 | Level 3 |
| 17 | Aluwani | 112.0 | Level 1 |
| 18 | Prescient | 103.9 | Level 1 |
| 19 | Ashburton | 91.8 | Level 1 |
| 20 | Absa Asset Management | 88.7 | Level 1 |
Conclusion: Choosing the Right Asset Manager
The Top 20 Best Asset Managers in South Africa offer a diverse range of options for investors, from global giants like Ninety One to niche players like Fairtree. Your choice will depend on your financial goals, risk tolerance, and investment preferences. Whether you’re looking for consistent returns, strong ESG practices, or transformative BEE credentials, South Africa’s asset management industry has something for everyone.
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