Investment Approach

Philosophy – specialist active management

STANLIB’s emphasis on recruiting and retaining talented individuals and a ‘dare to question’ attitude has fostered a rich and diverse business culture, which is evidenced through our people.

With specialists in the fields of asset allocation, company research, equity and fixed interest management, multi-asset class management, property investment, quantitative research and international investments, our unmatched blend of skills make up a powerful investment team that is one of the most qualified in South Africa. And our investment professionals firmly believe in active portfolio management and strive to constantly improve on their already superior research and investment processes.

Each investment proposition is staffed by a team of investment professionals who focus on managing funds in their area of expertise according to our multiple specialist approach to managing portfolios.

 

Research

The investment managers all share a commitment to the robust STANLIB research process, and to the ongoing enhancement of our proprietary research database.

Our analysts conduct fundamental research on up to 230 companies. Bottom-up company research is complemented by our economists, providing insights into broader domestic and global economic issues.

The research team
Research process
CRISA Considerations
Proxy voting
Commission sharing agreements
United Nations Principles of Responsible Investing
 

Offshore partners

STANLIB Asset Management has adopted a multiple specialist approach to managing the various asset classes. As part of this approach, we have outsourced the management of our offshore fixed interest solution to Brandywine Global Investment Management and our offshore equity solution to Threadneedle Investments.

BrandyWine Global Investments

In managing STANLIB’s Fixed Interest mandates, Brandywine aims to do the following:

  • Outperform the Barclays Capital Aggregate Global Index by at least 2% annually over a market cycle (approximately three to five years)
  • Provide long-term returns in excess of the rate of inflation
  • Provide capital preservation through focus on undervalued securities

The investment process focuses on the following:

  • Investing in bonds with the highest real yields
  • Managing currency in a way that is designed to protect principal and increase returns
  • Patiently rotating among countries
  • Controlling risk by purchasing undervalued securities
Brandywine Global believes in Value Investing; Active Management; Absolute Return and Mean Reversion.

Threadneedle Investments

Threadneedle is a leading international investment manager with a strong track record of outperformance across asset classes. It actively manages £74bn (as at 30 June 2012) of assets, investing on behalf of individuals, pension funds, insurers and corporations. Threadneedle is the 3rd largest UK retail fund manager and the 7th largest UK fund manager by AUM. In Europe it ranks in the top 30². Established in 1994 in London, Threadneedle has a presence in 16 countries.

Threadneedle's distinctive investment approach is based on creative thinking, sharing of ideas and rigorous debate. Our 137 investment professionals invest across developed and emerging market equities, fixed income, commodities and UK property. As at 30 June 2012, 67% of Threadneedle funds outperformed over 1 year, 78% over 3 years and 84% over 5 years3. So far in 2012, Threadneedle has won over 100 prestigious fund management industry awards globally4.   Threadneedle is owned by Ameriprise Financial (NYSE: AMP), a leading US diversified financial services company with over US$655bn in owned, managed and administered assets.

Fidelity Worldwide Investments

STANLIB's managed portfolios, in its offshore Unit Trust range are fund of funds, each comprising of a carefully selected balance of portfolios from the Fidelity International range. The structure provides access to Fidelity's global network of investment management and research expertise.

Fidelity International, established nearly 40 years ago, has portfolio management and research staff in 12 financial centres around the world and offices in 23 countries. Fidelity International and its subsidiaries manage assets worth $141.8 billion.

The cornerstone of Fidelity’s investment approach is research. As well as studying financial results, analysts and fund managers visit companies, meet their managers and talk to suppliers, customers and distributors, giving the investment team a clear 360° view of each company they invest in.