NEWS & OPINION
31 July 2020
PROFILE EVAN WALKER PORTFOLIO MANAGER, 36ONE ASSET MANAGEMENT
How did you get involved in financial services – was it something you always wanted to do? After completing an MBA at Wits Business School in 1999, I knew I wanted a position in financial services with a more specific focus on markets and equities. I was fortunate to find employment at Standard Equities as a retail analyst where I was employed for seven years, until joining RMB Asset Management in 2007 (later to become Momentum Asset Management). I managed the Momentum Small/Mid Cap Fund for six years until Joining 36ONE Asset Management in 2012. I grew the small cap assets at RMB/Momentum from R300m to R4bn over the six-year period and received three Ranging Bull Awards. I’ve been at 36ONE for eight years now, winning one Raging Bull Award for Best Equity Fund in 2015. What was your first investment – and do you still have it? My first investment was shares in Bidvest priced at R30 – and yes, I still have the share, which is now Bidcorp and Bidvest, worth approximately R400. I liked the diversification of the investment and the entrepreneurial flair of Brian Joffe. What have been your best – and worst – financial moments? The best moment for me was two years after the 2008 financial crisis, i.e. 2010, as the Momentum Small/Mid Cap Fund was not only the bestperforming unit trust in its category but the best-performing unit trust in SA over three years by a substantial margin. The worst moment for me was the collapse of Steinhoff in December 2017. While my fund had a very small position
I ENCOURAGE THEM TO PICK OUT MANAGERS WHO HAVE SHOWN THEIR ABILITY TO BOTH PROTECT CAPITAL AND GROW VALUE OVER TIME
VERY BRIEFLY
(2%), the destruction of pension value driven by greed sickened me. I think we all learned valuable lessons from the loss. What do you tell investors who are worried about their investments due to SA’s current economic environment and COVID-19? I encourage them to pick out managers who have shown their ability to both protect capital and grow value over time. The 36ONE BCI Equity Fund, which I manage, is currently 30% ahead of the market over one year and compounded positive returns since inception. I also encourage people to try to save harder and diversify their investments further with a focus on always looking for quality mangers/investments and steering clear of complex investment structures that are hard to understand; simple is normally better and more trustworthy. What’s the best book on investing that you’ve ever read – and why would you recommend it to others? I don’t read books on investing! Investing is a product of buying good companies, so I rather read about how people made good companies and what gave them the edge in doing so – and what makes a good business or industry. There are many books that combine the history of businesses and the people responsible into more light-hearted reading. One such book is Crazy Rich by Jerry Oppenheimer, which is a great story of the Johnson & Johnson dynasty. After reading this book, businesses of today in 2020 take on a different meaning. I love reading and understanding the origins of companies, as this tends to give investments way more meaning than just the share price on a daily basis.
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Financial adviser Grant Rossiter has joined PSG and will be working from the PSG Wealth Strand Street office. “I always knew that I wanted to work in finance in some form,” Grant Rossiter says Rossiter. “When I went to varsity, I decided to study commerce, and this culminated in a CA(SA) qualification.” He joins PSG with extensive experience: 20 years in various roles with his roots in stockbroking, beginning in 1999, just ahead of the tech crash of 2000, which he cites as a great learning curve to kickstart his career. Following his true passion, joining PSG coincides with his desire to get back to focusing on the markets and investment management. “I value the entrepreneurial spirit that PSG embraces and look forward to a wonderful journey ahead, building on relationships with clients, while forging new friendships in the business, in the years to come,” he adds.
The South African Insurance Association (SAIA) has appointed Pamela Ramagaga to the position of General Manager: Insurance Risks, effective 1 June 2020. Ramagaga has Pamela Ramagaga successfully held the position of Acting General Manager: Insurance Risks from January 2020 after the position became vacant. In her new capacity, she will lead a team that drives several strategic and pertinent industry initiatives, while also reporting directly into SAIA’s Chief Executive Officer, Viviene Pearson. Ramagaga joined SAIA in 2018 as the SAIA Executive Manager, working with the Internal Executive Team on several initiatives across the organisation. “We are glad to have Ms Ramagaga take on this challenging responsibility on a substantive basis after only six months in an acting capacity. I have no doubt that her industry expertise and the maturity she displays in her approach to industry challenges will be an asset, not only to the organisation, but also for the entire non-life insurance industry. We welcome her into her new role, and wish her well for the future,” says Pearson. Ramagaga brings with her valuable and extensive insurance industry experience, coupled with her academic achievements, which includes a Master of Business Administration (MBA) degree from the Gordon Institute of Business Science (GIBS).
