Ashburton Fund Managers (Pty) Ltd

www.ashburtoninvestments.co.za

Company details

FAIS FSP registration number: 40169

Switchboard:

+27 11 282 8800

Fax number:

+27 11 282 1619

General email: query@ashburtoninvest.co.za.

Address:

Ground Floor, 3 Merchant Place, 1 Fredman Drive, Sandton, 2196

PO Box 650149, Benmore, 2010

Compliance officer name:

Fallon Coetzee 087 736 9527

Investment philosophy

The principal investment philosophy for Ashburton Investments is to provide investors with real returns over the long term, by investing in assets which trade below their intrinsic value while seeking diverse sources of return in order to diversify risk. We use both top-down proprietary macro data and bottom-up valuation data to make decisions on asset allocation.

Our investment approach is built on three key pillars:

Macro

We use global macro-economic factors to identify trends that inform our investment decisions and identify asset classes which are under-priced.

Quality

We invest in quality assets - companies that are of substance and sustainability, robust through economic cycles and best equipped to generate long-term sustainable revenues. We focus on three main factors: high profitability, strong balance sheet and low earnings cyclicality. We prefer market leaders with strong management operating in industries with high barriers to entry and structural growth.

Focused

While diversification is a key tenet at asset class level, at a stock selection level, we would rather own concentrated exposures of quality companies than own diluted exposures of lower quality companies. However, where we don’t have a stock selection edge, we don’t hesitate to incorporate index funds in order to capture market beta.

FAIS requirements

Who is your FAIS complaints officer?

Fallon Coetzee

Please provide the link to the complaints policy on your website: http://www.ashburtoninvestments.com/docs/defaultsource/documents/legal/fais-complaints-resolutionpolicy.pdf?sfvrsn=2

Ownership

What is the ownership structure of the company?

Ashburton is 100% owned by the FirstRand Group Who are the directors of the company?

Rudigor Kelyn, Patrice Rassou, Meghna Ravjee, Naleni Govender

Do staff and management have an interest in ownership? Please provide the percentage held by staff and management:

Ashburton is 100% owned by the FirstRand Group. Staff ownership is at FirstRand Group level

History

When was the company established?

Ashburton Investments forms the fourth pillar of the FirstRand Group alongside RMB, Wesbank and FNB. Ashburton is 100% owned by FirstRand Limited.

Ashburton’s history dates to the genesis of Ashburton Jersey in 1982. FirstRand is committed to having a prominent asset manager as part of its financial service offering. Therefore, after RMB Asset Management was spun off to Momentum, a process was started to consolidate all remaining Group asset management functions under Ashburton. The businesses that were consolidated under the Ashburton brand are, the investment management arm of RMB Private Bank, BJM Multimanager, Ashburton Jersey and the retail stockbroking business of FNB. The business in its current form has been in operation since 2013.

The investment process for our Houseview Balanced Portfolios was however established in 1999 and has therefore been in existence for 19 years initially as Ansbacher, then as RMB Private Bank and currently as Ashburton Investments. It should be noted that, as a new generation manager, we seek to provide investors with access to more sources of return, the opportunity to achieve greater portfolio diversification and, consequently, to improve overall portfolio efficiency and hence the Balanced Portfolios have evolved over time.

At the end of 2015 Ashburton acquired Atlantic Asset Management, a boutique Fixed Interest house, with a view to expanding on our Fixed Interest capabilities.

The consolidation of Group asset and wealth management functions was completed in October of 2017 with the transfer of the Global Markets Fund Solutions business from RMB to Ashburton. This consolidation resulted in a common investment philosophy and common systems being applied across the various investment solutions.

In November 2017, having introduced efficiencies into the Wealth and Investment (WIM) business, this business, along with a large contingent of Ashburton staff, was returned to FNB in order to be closer to their clients.

Ashburton is a pure asset management company managing pooled and segregated, tailor-made mandates for clients across various risk profiles with solutions ranging from secure low risk portfolios to high -risk mandates split across various asset classes.