22

Simphony Sanlam

Embed Size (px)

DESCRIPTION

Simphony Sanlam

Citation preview

Page 1: Simphony Sanlam
Page 2: Simphony Sanlam

03simphony

Page 3: Simphony Sanlam

Spring is fi nally here! In this issue of

Simphony we hope to bring hope and

cheer after the long and cold winter

months. We will soon be packing

away our winter woolies and some of us will be

hitting the gyms more regularly... You could

try to follow Johan van der Merwe’s rigorous

training schedule that helped him prepare for

the recent swimming world championships,

but beware – it is extremely intense! He shares

these secrets, as well as how he tries to

balance his professional and personal life, on

page 13.

We also meet Viresh Maharaj, Chief Actuary

at Sanlam Group Risk, who provides some

insight into his personal and professional

life. On page 6, read how Viresh juggles a

hectic work schedule and MBA studies while

still managing to fi nd time to relax and spend

quality time with his wife. We also feature the

winners of the Sanlam CEO award, Sue van Zyl

and Steven Rosenberg. Jacques du Plessis is

this year’s winner of the Sanlam Investments

Living the Values award (page 16). Last year’s

winner, Gezina Venter, gives us an update on

her overseas adventure in Candid Camera.

We also focus on the Human Resources

department, headed by Raymond Schkolne,

and discuss their role in the business, both

from an operational and strategic perspective.

We highlight a few of the projects that they

currently have underway.

We hope that you’ll fi nd this edition insightful

and educational. If you have any suggestions or

would like to submit an article, please contact

us at [email protected].

Simphony Conductors (clockwise): Thaniah Toefy, Stephanie Chellan and Pateka Quwe

02simphony

navigation

02simphony

introductions

welcome

Over the last couple of months I have engaged

with various stakeholders on the changes

we’ve introduced to our structure and the

goals we have for the future. Through these

discussions, I have had the opportunity to

refl ect on the evolution of our businesses and

indeed of the Cluster as a whole, and it’s clear

that we have a great deal to be proud of. Our half-year results refl ect that

our sustained outstanding investment

performance is beginning to positively

infl uence fund fl ows in spaces where we have

to-date not been as successful as we would

have liked. And as a result of relentless focus

and effort, we are now attracting retail fl ows

across the board where previously we’ve only

done so in certain asset classes like equity.

In fact, we can be proud of the fact that

during the fi rst half of this year, we attracted

better retail fl ows than we have attracted over

the last 10 years!

Your hard work in the institutional space is

also evident in the substantial pipeline that

has been built for the second half of the year.

What is particularly pleasing for me is that

we are also being recognised by the industry

as is evident in our recent awards –and of

course Kokkie’s achievement sits in a class

of its own.

I am also encouraged by the fact that our

entrepreneurial and innovative spirit continues

to thrive with SPI launching their Art Advisory

Service, and SIM introducing their Enhanced

Tracker Balanced Fund. The team at Sanlam

Employee Benefi ts also embraced innovation

with their unique approach to hosting yet

another successful Benchmark Symposium.

I’d also like to take this opportunity to

once again congratulate Jacque du Plessis,

winner of the investment Clusters’ Living the

Values award, and Steven Rosenberg and

Sue van Zyl, recipients of the Sanlam Group

CEO awards. These prestigious awards are

testament to the calibre of people we have in

the business.

We have lots be to be proud of and as

we contemplate the stretch targets we’ve

set for 2013, I encourage you to draw on

our achievements to date and use them as

platforms to build new standards of excellence

for the future.

Finally, I thought it worth sharing this quote

from Jim Collins as I thought it captures what

I hope to see and feel amongst each of us as

we enter the fi nal quarter of the year: “The

kind of commitment I fi nd among the best

performers across virtually every fi eld is a

single-minded passion for what they do, an

unwavering desire for excellence in the way

they think and the way they work.”

Johan van der MerweCEO of Sanlam Investments

Each and every one of us play a pivot role in achieving this target and I’m confi dent that together we can overcome all obstacles and challenges

Simphony Conductors: Thaniah Toefy and Pateka Quwe

Page 4: Simphony Sanlam

candid camera!ANOTHER BUSY QUARTER PROVES THAT SANLAM INVESTMENTS IS TRULY A GREAT AND DIVERSE COMPANY

The local investment community converged on the Westin Grand for the inaugural African Cup of Investment Management, which took place on September 9 and 10, 2010. Our sim.smartcore team (instrumental in bringing the conference to our shores) was delighted at the turn out and particularly the fact that attendees and speakers came from across the investment industry.

With the ongoing volatility and uncertainty in fi nancial markets, the conference was a particularly good time to debate the best way to manage money successfully for investors.

One of the main areas of focus at the African Cup of Investment Management was passive

investing and whether it is complementary or in competition to active investing.

Internationally acclaimed Dan diBartolomeo and Deborah Fuhr were among the keynote speakers and shared their insights into the world of quantitative investing and the soaring popularity of Exchange Traded Funds.

SIM economist Arthur Kamp led a discussion on the fi nancial crisis and its impact on African investing and how South Africa was shielded from a direct meltdown. In his session, panelists shared their views on how to create a policy that stimulates growth and economic stability in the wake of the crisis.

under the hammerFor the third year running, the Sanlam Investment Management South African Challenge auction, hosted by Sanlam Investments staff, did not disappoint. To enter the challenge, teams must raise as much money as possible for charity and for the past two years the staff auction has been instrumental in doing just that. In keeping with the auction tradition, Megan Brandt was the uproarious MC and cornered bids from unsuspecting participants. The big items on the list sparked a lot of interest and a bidding war ensued.

Everything from Judith’s famous fudge and rejuvenating spa vouchers to bottles of wine and adventurous helicopter rides went under the hammer at rather generous prices. In the end, more than R40 000 was raised for Cotland’s Children’s Sanctuary.

The teams were very happy with the turnout and the level of interest and participation as it also presented staff members with the opportunity to wish the teams well for the challenge.

A great time was had by all while raising funds for a good cause.

Another fi rst for SIM

03simphony

Sanlam International Investment Partners (SIIP), headed by Hendrik Pfaff, hosted its fi rst client interaction function on September 6 and 7.

The aim of the event was to position SIIP as a serious player in the global arena and showcase its achievements of breaking into new markets and fi nding the right partners over recent years. SIIP has formed strategic partnerships with pioneering fi rms from Europe, Asia and Australia.

The function also allowed SIIP to introduce its international partners to Sanlam clients who stand to benefi t from such an opportunity.

On September 6, over 150 clients were invited to the Table Bay Hotel to meet and interact with delegates representing SIIP’s international partners from four capital markets based in UK and Atom Funds who are an Australian outfi t. On the same day, about 100 staff members were treated to the same experience at the CR Louw and on September 7 the function moved to the Michelangelo Hotel in Gauteng.

Judging by the success of these events, SIIP is set to reach new frontiers with its winning formula.

SIIP interacts

Johann Hugo, Helena Conradie, Dan diBartolomeo, Jenny Albrecht and Robert MacDonald

Other investment trends explored were sustainable infrastructure investing and investing in African, Middle East and India.

Finally, extremist Lewis Pugh, best known for swimming in the North Pole and climbing Everest to draw attention to the impact of global warming, shared his experiences – and gave us insight into what motivated him to take on such formidable challenges.

Page 5: Simphony Sanlam

04simphony

candid camera

Gezina Venter, Client Services Manager at SCI and winner of the 2009 Living the Values award shares her experience of her overseas trip:

“Filled with anticipation, awaiting the English summer and amid fears of being grounded by volcanic ash clouds and airline strikes, we fi nally departed in May for two weeks abroad. From visiting the Culzean Castle in Southern Scotland to fi nding myself in Dublin the next day meeting with the Sanlam Asset Management Ireland team to discuss offshore work processes, I still managed a

city tour of Dublin by bus. Then back to Scotland where we embarked on a road trip through the many splendorous Scottish Highlands, stopping at all the castles along the way – a defi nite highlight of the trip and a must-see! After leaving my heart in Scotland we ventured forth to Toronto, Canada. The ice wine tasting, bus trip to Lake Niagara, boat trip and journey behind the falls were amazing. On the way back, we did a day tour of London by bus, taking in all the sights with hungry (also tired) tourist eyes. Thank you to everyone for making this possible!”

looking back

A total of 170 young and ambitious minds, handpicked from across Sanlam’s geographical spread (including countries such as Zambia and Kenya), gathered at the Lagoon Beach Hotel on August 4 and 5 for a session aimed at handing over to those who may be in leadership positions in the future. And who better to lead such a gathering than the revered skipper himself, Johan van Zyl. He brought along his executive team who were more than willing to share their time during the discussion sessions and mulled over the strategy that has led Sanlam to the solid position that it enjoys today.

The fi rst day was characterised by an over-view of where Sanlam was 10 years ago, the steps taken to get to where it is today and a

glimpse into the future direction it seeks to follow. Nicky Newton-King, JSE deputy CEO, gave a refreshing market perspective on Sanlam’s annual report and Ryan Sandes, the reigning champion of three desert races, which are over 200km each, wowed everyone with his immense talent and the incredible power of the mind.

The following day was drama-fueled as participants replicated LA Law, the TV drama series where sharp minds and eloquent tongues clash in the courtroom. In the end, Chief Justice Johan van Zyl’s verdict saw the defence team claim victory after proving that Sanlam was on the right track after all.

The Future Leaders’ 2010 Conference was a resounding success.

Gezina outside the Loch Ness Monster Visitor Centre in Drumnadrochit, Inverness-shire, Scotland.

Pictured from left are: Asanda Manina (Sanlam Collective Investments), Samantha Achilles (Sanlam Collective Investments), Martin Pieterse (Sanlam Personal Finance), Renai Mahlatji (Sanlam Sky) and Pateka Quwe (Sanlam Investments)

Coco Chanel said, “As long as you know men are like children, you know everything!”

This is a statement Helene Du Toit Lourens, an expert on gender differences, would certainly fi nd amusing. Helene was the guest of honour at the Sanlam Investments Women’s Day event who spoke to us about gender differences in the brain and the powerful infl uence of emotions. Her empowering speech left everyone feeling enlightened about the complex differences between men and women and amazed at how subtle these differences can sometimes be.

Megan Brandt from Distribution Support was MC for the day. All in all, it was a festive event held in the SIM auditorium. The lightness of the mood did not take away from the signifi -cance of the day. And, if there is one lesson the South African women who took part in the great emancipation march of 1956 would have us learn, it is best expressed by Coco Chanel who said, “The most courageous act is still to think for yourself. Aloud.” So look after yourselves, great women of South Africa.

women power

provide nominations, who then go through a careful selection process. HR would like to thank Johan for his dedication and continued commitment to the LPO initiative. Here’s to a great LPO in November.

On August 26 and 27, 2010, Sanlam Investments hosted its tenth Living Passionate Ownership (LPO) event. Approximately 60 delegates from the Cluster were treated to a thought-provoking two-day affair at a secret location.

The LPO programme was initiated in 2007 by Johan van der Merwe as a way to instil the company’s culture of passionate ownership, innovation and transparency within the Cluster. It’s a great networking opportunity and encourages collaboration across the different businesses. During the sessions, Johan shares his vision for the business.

Living Passionate Ownership

passing the baton

The feedback HR received from past delegates is that the event is an exceptionally positive and rewarding experience. Over the years, some of the country’s most acclaimed speakers have addressed LPO delegates with their inspiring stories – from celebrity chef and extreme adventurer, David Grier, to renowned entrepreneur, Raymond Ackerman. This is set to continue as HR strive to keep the agenda fresh, relevant and engaging.

The LPO aims at involving a diverse group of staff from each business in the Cluster: heads of the different businesses initially

Page 6: Simphony Sanlam
Page 7: Simphony Sanlam

PHOT

OGRA

PH T

OB

Y M

UR

PH

Y

07simphony

on the spot

At 27 years old, Viresh

Maharaj is one of the

youngest Chief Actuaries

to walk the corridors of

Sanlam, having spent the

past two years as the Product Development

Actuary at Sanlam Group Risk (SGR).

As Chief Actuary, Viresh is responsible

for leading SGR’s specialist pricing team

and ensuring that the rates quoted are both

competitive and profi table. He also supports

the product development function where his

innovative thinking contributes to the giant

leaps SGR has made in product design and

the incremental evolution of SGR’s existing

product range. Although his hands are full,

it is no surprise that this down-to-earth go-

getter is also involved in the marketing of the

SEB business by building relationships with

clients, driving new proposals and writing

articles profi ling the capabilities of the SEB

business. Viresh is also the product owner

of the Sanlam Benchmark Symposium

and shoulders a number of responsibilities

in this regard. “I am part of a team that

pulls together to delineate the challenges

in our industry by conducting the most

comprehensive research of its kind performed

in South Africa, analysing the results on the

back of a 30-year history and applying our

thought leadership to provide insights on

how these challenges may be overcome,”

he explains.

According to Viresh, what he enjoys most

about his various roles is that every day

brings new challenges in an environment

that is both complex and ambiguous. Viresh

says, “I love not knowing the answers

or what to do next. What gets my blood

pumping is being faced with a problem,

fi guring things out and then designing and

implementing practical solutions.”

Viresh was born in Durban and grew

up uncertain of what he wanted to do with

his life. All he knew was that he wanted to

push himself beyond his limits – and he is

still doing this today. He studied Actuarial

Science at UCT, with a bursary received from

Metropolitan Life, and then completed his

actuarial qualifi cation via the Actuarial Society

of South Africa and the Faculty of Actuaries.

Viresh is now studying towards an MBA at the

UCT Graduate School of Business and plans

to learn to play the electric guitar thereafter.

A closet romantic, Viresh found that one

of the most diffi cult obstacles he had to face

in life was living away from the woman he

loved. “It was quite diffi cult only being able

to see her a few times a year and then having

to say goodbye for long periods of time,”

says Viresh. So how did SGR’s Chief Actuary

overcome this obstacle? Well, he designed

and implemented an elegant solution – he

asked her to marry him. And to his surprise,

she said yes. Little wonder one of Viresh’s

most prized possessions is an award he

received from his wife – a mug that says,

“World’s Best Husband”.

Until very recently, Viresh was the Vice

President of the Association of South

African Black Actuarial Professionals – an

organisation that aims to promote the

development of the actuarial profession

with a vision of increasing the number of

actuaries from disadvantaged communities.

He is also driving the Sanlam Save Your

the real dealAN EARNEST YOUNG MAN WITH THE WORLD AT HIS FINGERTIPS

Quote

I think I’m the youngest actuary in the Cluster but not in the entire Group. That being said, I have failed a number of times but don’t regret doing so as I have learnt more from these failures than I have through my successes.

Future campaign on Facebook, which is

an initiative aimed at trying to change the

savings behaviour of young people by using

a combination of celebrity appeal, social

networking and virtual voyeurism. Visit

www.saveyourfuture.co.za to become part

of this interactive platform that is actively

engaging with South Africa’s youth.

With his career taking off and still studying

intensively, does this Chief Actuary ever have

free time? “I try to squeeze a few hours into

my schedule,” chuckles Viresh. “I make the

time to follow the English Premier League,

play games on my PS3 and spend more

quality time with my wife. However, once my

studies are over I want to travel the world and

visit places like Egypt, Greece and Vegas! And

who knows, we might even be hearing the

pitter-patter of little feet …”

FAVOURITE BOOKFooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb.

WHERE IS YOUR IDEAL DESTINATIONI’ve always wanted to visit Japan.

FONDEST CHILDHOOD MEMORYDiwali in Durban.

BEST DAY OF YOUR LIFEToday.

FAVOURITE FOODMy wife’s butter chicken and naan.

MOST UNUSUAL FOOD YOU’VE EVER TASTEDVegetables.

GREATEST ACHIEVEMENTQualifying as an actuary.

MOTTO IN LIFEQuisque Sibi Verus – Be true to yourself.

CURRENTLY READINGEmails, News24 and The Economist.

Quickies

Page 8: Simphony Sanlam

07simphony

on the spot

At 27 years old, Viresh

Maharaj is one of the

youngest Chief Actuaries

to walk the corridors of

Sanlam, having spent the

past two years as the Product Development

Actuary at Sanlam Group Risk (SGR).

As Chief Actuary, Viresh is responsible

for leading SGR’s specialist pricing team

and ensuring that the rates quoted are both

competitive and profi table. He also supports

the product development function where his

innovative thinking contributes to the giant

leaps SGR has made in product design and

the incremental evolution of SGR’s existing

product range. Although his hands are full,

it is no surprise that this down-to-earth go-

getter is also involved in the marketing of the

SEB business by building relationships with

clients, driving new proposals and writing

articles profi ling the capabilities of the SEB

business. Viresh is also the product owner

of the Sanlam Benchmark Symposium

and shoulders a number of responsibilities

in this regard. “I am part of a team that

pulls together to delineate the challenges

in our industry by conducting the most

comprehensive research of its kind performed

in South Africa, analysing the results on the

back of a 30-year history and applying our

thought leadership to provide insights on

how these challenges may be overcome,”

he explains.

According to Viresh, what he enjoys most

about his various roles is that every day

brings new challenges in an environment

that is both complex and ambiguous. Viresh

says, “I love not knowing the answers

or what to do next. What gets my blood

pumping is being faced with a problem,

fi guring things out and then designing and

implementing practical solutions.”

Viresh was born in Durban and grew

up uncertain of what he wanted to do with

his life. All he knew was that he wanted to

push himself beyond his limits – and he is

still doing this today. He studied Actuarial

Science at UCT, with a bursary received from

Metropolitan Life, and then completed his

actuarial qualifi cation via the Actuarial Society

of South Africa and the Faculty of Actuaries.

Viresh is now studying towards an MBA at the

UCT Graduate School of Business and plans

to learn to play the electric guitar thereafter.

A closet romantic, Viresh found that one

of the most diffi cult obstacles he had to face

in life was living away from the woman he

loved. “It was quite diffi cult only being able

to see her a few times a year and then having

to say goodbye for long periods of time,”

says Viresh. So how did SGR’s Chief Actuary

overcome this obstacle? Well, he designed

and implemented an elegant solution – he

asked her to marry him. And to his surprise,

she said yes. Little wonder one of Viresh’s

most prized possessions is an award he

received from his wife – a mug that says,

“World’s Best Husband”.

Until very recently, Viresh was the Vice

President of the Association of South

African Black Actuarial Professionals – an

organisation that aims to promote the

development of the actuarial profession

with a vision of increasing the number of

actuaries from disadvantaged communities.

He is also driving the Sanlam Save Your

the real dealAN EARNEST YOUNG MAN WITH THE WORLD AT HIS FINGERTIPS

Quote

I think I’m the youngest actuary in the Cluster but not in the entire Group. That being said, I have failed a number of times but don’t regret doing so as I have learnt more from these failures than I have through my successes.

Future campaign on Facebook, which is

an initiative aimed at trying to change the

savings behaviour of young people by using

a combination of celebrity appeal, social

networking and virtual voyeurism. Visit

www.saveyourfuture.co.za to become part

of this interactive platform that is actively

engaging with South Africa’s youth.

With his career taking off and still studying

intensively, does this Chief Actuary ever have

free time? “I try to squeeze a few hours into

my schedule,” chuckles Viresh. “I make the

time to follow the English Premier League,

play games on my PS3 and spend more

quality time with my wife. However, once my

studies are over I want to travel the world and

visit places like Egypt, Greece and Vegas! And

who knows, we might even be hearing the

pitter-patter of little feet …”

FAVOURITE BOOKFooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb.

WHERE IS YOUR IDEAL DESTINATIONI’ve always wanted to visit Japan.

FONDEST CHILDHOOD MEMORYDiwali in Durban.

BEST DAY OF YOUR LIFEToday.

FAVOURITE FOODMy wife’s butter chicken and naan.

MOST UNUSUAL FOOD YOU’VE EVER TASTEDVegetables.

GREATEST ACHIEVEMENTQualifying as an actuary.

MOTTO IN LIFEQuisque Sibi Verus – Be true to yourself.

CURRENTLY READINGEmails, News24 and The Economist.

Quickies

Page 9: Simphony Sanlam

showcase

08simphony

Sanlam Investment Management (SIM) launched

the SIM Enhanced Tracker Balanced Fund on the

September 1, 2010 . The fund will complement

SIM’s current fund offering and provide clients

with a cost-effective multi-asset class product in

the balanced fund space – the fi rst product of its

nature in South Africa.

The SIM Enhanced Tracker Balanced Portfolio

provides market-related investment returns

by investing primarily in equity, fi xed interest

investments, cash and foreign assets. Each of the

underlying asset classes, barring cash, is managed

on a passive basis i.e. tracks an underlying index.

Only limited asset allocation in line with the house

view will take place. The fee basis is lower than

traditional actively managed portfolios, in some

cases offering a discount of as much as 50%.

The SIM Enhanced Tracker Balanced Portfolio

has a moderate-aggressive risk profi le. The fund is

suitable for investors who want exposure to a mix

of assets at a low tracking error to the underlying

indices. The fund offers a low-cost alternative to

the more traditional actively managed balanced

funds on offer.

The Fund has been available to investors

through Sanlam Umbrella Solutions since

October 2008, attracting good infl ows and

its strong performance has prompted SIM

to make it available to the wider market.

For more information on the SIM Enhanced

Tracker Fund, please contact Tanya Strydom

on 021 950 4637 or Johan Redelinghuys

on 021 950 2979.

Sanlam Investment Management launches the SIM Enhanced Tracker Balanced Fund

In presenting the fi ndings of the annual

Benchmark Symposium research, Sanlam

Employee Benefi ts (SEB) hosted a mock in-

studio TV talk show with Leanne Manas from

SABC2’s ‘Morning Live’ around the hypothetical

appointment of a minister of pensions. A

petition delivered by Tony Ehrenreich, regional

secretary of Cosatu in the Western Cape, sparked

lively debate. He called for far more coherent

government action in developing a ministry of

pensions – a proposal not yet part of the debate

around the National Social Security Scheme

(NSSS) under consideration.

An unprecedented proposal, the Cosatu call

brings a new dimension to the NSSS debate

and raises the urgency of dealing with what it

considers to be a crucial element in the lives

of South Africans. Such government focus on

pensions has been tested in other countries and

it has been found that where there is a dedicated

ministry, there is more appropriate redirection of

resources.

“The time for talk is over,” says Paul Myeza,

CEO of Sanlam Employee Benefi ts. “SEB is

urging government action to galvanise the

retirement fund industry and be part of improving

South Africans’ fi nancial literacy. In order to

encourage better savings rates, consumers need

to be better informed so that more meaningful

engagement with retirement fund professionals is

possible, thereby helping to make better pre- and

post-retirement decisions.”

The motivation behind the engaging format

of this year’s Benchmark Symposium was to

highlight the key issues and challenges facing

retirees and the retirement industry, while

presenting the results of the Sanlam Benchmark

survey. For the fi rst time, the survey included

interviews with 250 pensioners, in addition to

750 active retirement fund members. The most

comprehensive research of its kind, the survey

was fi rst launched 30 years ago. The Benchmark

Symposium is considered a must-attend event in

South Africa for intermediaries, principal offi cers,

trustees, service providers, asset managers,

government department offi cials and union

representatives. The survey is the

most comprehensive and respected of its kind

for the country’s retirement fund industry,

providing relevant statistics and insights into

the management of pension, provident and

umbrella funds. For more information

on the results of the survey, visit

www.sanlambenchmark.co.za.

lights, camera, SAVE!

Page 10: Simphony Sanlam

company profi les

THANIAH TOEFY

Sanlam Investments has realigned

its multi-manager hedge fund

Cluster to incorporate Octane

Holdings under the Blue Ink

Investments banner, having

recently acquired the remaining 50% of Octane

it did not own. The combined entity now

has R6.5 billion under management, with a

domestic fund comprised of hedge fund assets

of R3 billion and a further $470 million in

offshore portfolios, the bulk managed on behalf

of South African clients. As part of the move,

Octane has been rebranded Blue Ink Global

Investments with the combined entity giving

clients access to a range of local and global

fund of hedge fund portfolios.

Sanlam Investments CEO Johan van der

Merwe, who takes a strategic role as head

of the hedge fund Cluster, says the changes

are focused on a convergence of strategies

between the two businesses, allowing for

greater collaboration, enhanced operational

effi ciency and avoidance of duplication.

Esmarie Strydom, the CEO of Blue Ink

Investments, now also takes responsibility

for all client relations while Thomas

Schlebusch, currently CIO of Blue Ink

Investments, becomes CIO across both the

local and offshore businesses.

Johan says, “We are confi dent that this

process has strengthened our local and offshore

fund of hedge funds investment capabilities

and will result in positive benefi ts for new and

existing clients.”

The two businesses in South Africa will

continue to operate in Johannesburg and

Cape Town, consolidating into a single offi ce

in each location, while Blue Ink Global

Investments will move its offshore investment

operations to London. Long-time Blue Ink team

member Kevin Ewer is moving to London to

focus on the offshore side and will be joined by

ex-Octane team members Ali Bajwa, Steven van

Jaarsveld and Allister Langridge.

Eben Karsten, also a longstanding Blue

Ink team member, now heads the local

team with two new recruits, Grant Hogan and

Tatenda Chapinduka, coming onboard as

trainee analysts.

Blue Ink Global is also adjusting its

investment approach and will become a direct

investor in hedge funds, known as an F2 or

fund of funds, evolving from the Octane model

in which the company was positioned as an

F3, or fund of fund of hedge funds, investing

via other multi-managers.

A seletion of Blue Ink products are now also

available via consultants on the Glacier platform.

For more information please visit

www.blueink.co.za.

Images

Blue-Ink-Investments.jpg (New logo)

Esmarie Strydom.jpg

making a new markBLUE INK GETS REBRANDED

09simphony

BALANCED > HIGH EQUITY 1 YEAR % 2 YEAR % 3 YEAR % 5 YEAR % YTD %

SMM 70 32.37 2.48 4.67 14.23 -0.52

SMM 70 BMK 30.79 0.69 4.68 13.85 -0.88

Active Performance 1.58 1.79 -0.01 0.39 0.36

BALANCED > LOW EQUITY 1 YEAR % 2 YEAR % 3 YEAR % 5 YEAR % YTD %

Status Low Equity Fund 20.45 5.51 6.48 12.50 0.62

Status Low Equity Fund BMK 19.86 4.28 6.51 12.13 0.34

Active Performance 0.59 1.23 -0.03 0.37 0.28

BALANCED > MEDIUM EQUITY 1 YEAR % 2 YEAR % 3 YEAR % 5 YEAR % YTD %

SMMI Balanced FoF A 26.30 1.76 4.02 12.29 -0.33

Domestic AA Pru Medium Equity 23.76 1.55 3.41 11.98 0.13

Active Performance 2.55 0.21 0.61 0.31 -0.46

INCOME 1 YEAR % 2 YEAR % 3 YEAR % 5 YEAR % YTD %

Glacier FS Conservative MM 9.78 8.76 8.53 9.01 1.02

CPI plus 2 7.61 9.89 10.39 8.90 1.19

Active Performance 2.16 -1.13 -1.86 0.11 -0.17

In 1987, Sanlam purchased two William

Kentridge drawings for R1 814 each. Some

25 years later their value is conservatively

estimated at between R280 000 and

R350 000 apiece – a staggering 19 200%

return! Unsurprisingly, art is enjoying some

serious attention both in South Africa and

around the world, not only as a hedge against

infl ation but as a growth asset in its own right.

A recent report by Capgemini SA and

Merrill Lynch & Co confi rms that millionaires

are putting more money into art than ever

before. “With fi nancial markets still in fl ux, art

has emerged as the most popular category of

‘passion investment’”, says Capgemini’s Ileana

van der Linde. The World Wealth Report 2010

found that the world’s wealthy dedicate about

a third of their overall holdings to passion

investments and almost a third surveyed said

art was their top choice of passion investment

for fi nancial gain.

“Many of our clients have over the years

expressed interest in acquiring art, not only for

reasons of aesthetics but for its potential as an

investment,” says Daniël Kriel, CEO of SPI. “Our

Art Advisory Service is the fi rst of its kind in

South Africa and provides the art investor with

independent expert insight and reassurance

regarding the merit of their investment.”

The specialist Art Advisory Service is

available exclusively through SPI, with

consultations and advice provided by Stefan

Hundt, Curator of the Sanlam Art Collection.

Broadly, the Service offers advice on the

appraisal and valuation of existing collections

of artworks, including the provision of full

documentation, the management of artworks

to preserve their value and general guidance

on how to buy and sell art.

“It’s important to understand and articulate

a clear buying policy when assembling an

art collection,” says Stefan. “We shall advise

clients based on their personal preferences

and objectives, collaborating closely with

SPI Portfolio Managers. Art may bring great

pleasure but with care and attention over time

it can also produce great reward,” says Stefan.

Enquiries regarding the Art Advisory Service

should be channelled through any of the eight SPI

branch offi ces around the country, or through the

SPI Corporate Offi ce on 021 950 2300 or email

directly to [email protected].

the art of passion investing SPI LEADS THE WAY

Stefan Hundt (Sanlam Art Collection Curator) and Daniël Kriel (SPI CEO)

Page 11: Simphony Sanlam

11simphony

One of the many reasons sim.smartcore has managed to stay ahead of the curve is the importance the team places on staying in touch with global and local industry developments by networking

SIM.SMARTCORE LIVES UP TO ITS NAME IN INDEX TRACKING

It’s been an exciting – and

groundbreaking – year for the

SIM quants team. Not only have

they redefi ned themselves as a

sophisticated, smarter index manager

– as refl ected in their new name

sim.smartcore – but they were also

instrumental in bringing a highly

successful international investment

conference to South Africa, pipping all

other emerging markets to the post.

Since sim.smartcore’s inception a

decade ago, the team of four experienced

investment professionals has signifi cantly

expanded the size and scope of its

business. Helena Conradie, Johann Hugo,

Jenny Albrecht and Robert MacDonald

are a tight-knit team with different but

complementary skills.

Starting out as a conventional

index-tracking investment manager,

the business has since developed a

reputation for being one of the more

innovative players in the market and fi rst

to market a range of investment offerings.

It developed the fi rst index fund, managed

the fi rst exchange traded fund in SA and

launched a 130:30 short-extension fund

before any of its competitors.

More recently, sim.smartcore has been

paving the way in the development of

so-called smart beta products. These are

a new generation of index-tracking funds.

Helena says: “While traditionally index

trackers have been market cap-related

funds that work on semi-autopilot, smart

beta funds are designed to capture some

of the performance traditionally seen as

alpha in a systematic, process-driven and

scalable way.” They are also more cost-

effective than actively managed funds.

sim.smartcore also publishes a

quarterly newsletter, sim.style, which

highlights how different investment

styles – growth, value or momentum – are

faring in current market conditions. More

importantly, the publication showcases

the innovation, unique investment insight

and sophisticated decision-support

systems that underpin sim.smartcore’s

various investment offerings.

One of the reasons sim.smartcore has

managed to stay ahead of the curve is the

importance the team places on staying

in touch with global and local industry

developments by networking with their

peers, attending conferences and doing

extensive research to stay abreast of the

latest industry thinking.

Helena says one of the key develop-

ments over the past few years has been a

different way of thinking about the active

versus passive debate, with consensus

emerging that these are not opposing but

complementary investment styles. A few

years ago the core/satellite investment

model was much talked about. But

since then the model has developed

even further, with the core no longer

comprising just index or enhanced index

funds but also more intelligent indices

that are fundamentally rather than

market-cap weighted.

Traditionally investment performance

has been split into:

beta (market-related performance –

usually considered the realm of

index trackers)

alpha (returns conventionally

ascribed to the active investment

manager’s skill)

However, leading investment insights,

including the analytical work done by

sim.smartcore, have revealed that a

large proportion of traditional alpha can

be systematically captured by advanced

investment models and the insights of

experienced investment professionals.

“While true ‘alpha’ still exists, it is this

larger systematic portion that we call

smart beta,” says Helena.

These issues (and many others) came

under the spotlight and were robustly

debated at the African Cup of Investment

Management, which took place in early

September. The conference was also

extremely timeous, given the challenges

the investment industry is facing in

the wake of the fi nancial crisis – and

the growing pressure on it to offer

compelling, transparent and cost-

effective investment products.

staying ahead of the curve

The African Cup of Investment Management team (from L to R): (top) Jenny Albrecht, Lerato Motaung, Abeeda Hoosain Hendry and Johann Hugo (bottom) Helena Conradie, Robert MacDonald and Sharon Wood

PHOT

OGRA

PH T

OB

Y M

UR

PH

Y

10simphony

Page 12: Simphony Sanlam

11simphony

One of the many reasons sim.smartcore has managed to stay ahead of the curve is the importance the team places on staying in touch with global and local industry developments by networking

SIM.SMARTCORE LIVES UP TO ITS NAME IN INDEX TRACKING

It’s been an exciting – and

groundbreaking – year for the

SIM quants team. Not only have

they redefi ned themselves as a

sophisticated, smarter index manager

– as refl ected in their new name

sim.smartcore – but they were also

instrumental in bringing a highly

successful international investment

conference to South Africa, pipping all

other emerging markets to the post.

Since sim.smartcore’s inception a

decade ago, the team of four experienced

investment professionals has signifi cantly

expanded the size and scope of its

business. Helena Conradie, Johann Hugo,

Jenny Albrecht and Robert MacDonald

are a tight-knit team with different but

complementary skills.

Starting out as a conventional

index-tracking investment manager,

the business has since developed a

reputation for being one of the more

innovative players in the market and fi rst

to market a range of investment offerings.

It developed the fi rst index fund, managed

the fi rst exchange traded fund in SA and

launched a 130:30 short-extension fund

before any of its competitors.

More recently, sim.smartcore has been

paving the way in the development of

so-called smart beta products. These are

a new generation of index-tracking funds.

Helena says: “While traditionally index

trackers have been market cap-related

funds that work on semi-autopilot, smart

beta funds are designed to capture some

of the performance traditionally seen as

alpha in a systematic, process-driven and

scalable way.” They are also more cost-

effective than actively managed funds.

sim.smartcore also publishes a

quarterly newsletter, sim.style, which

highlights how different investment

styles – growth, value or momentum – are

faring in current market conditions. More

importantly, the publication showcases

the innovation, unique investment insight

and sophisticated decision-support

systems that underpin sim.smartcore’s

various investment offerings.

One of the reasons sim.smartcore has

managed to stay ahead of the curve is the

importance the team places on staying

in touch with global and local industry

developments by networking with their

peers, attending conferences and doing

extensive research to stay abreast of the

latest industry thinking.

Helena says one of the key develop-

ments over the past few years has been a

different way of thinking about the active

versus passive debate, with consensus

emerging that these are not opposing but

complementary investment styles. A few

years ago the core/satellite investment

model was much talked about. But

since then the model has developed

even further, with the core no longer

comprising just index or enhanced index

funds but also more intelligent indices

that are fundamentally rather than

market-cap weighted.

Traditionally investment performance

has been split into:

beta (market-related performance –

usually considered the realm of

index trackers)

alpha (returns conventionally

ascribed to the active investment

manager’s skill)

However, leading investment insights,

including the analytical work done by

sim.smartcore, have revealed that a

large proportion of traditional alpha can

be systematically captured by advanced

investment models and the insights of

experienced investment professionals.

“While true ‘alpha’ still exists, it is this

larger systematic portion that we call

smart beta,” says Helena.

These issues (and many others) came

under the spotlight and were robustly

debated at the African Cup of Investment

Management, which took place in early

September. The conference was also

extremely timeous, given the challenges

the investment industry is facing in

the wake of the fi nancial crisis – and

the growing pressure on it to offer

compelling, transparent and cost-

effective investment products.

staying ahead of the curve

The African Cup of Investment Management team (from L to R): (top) Jenny Albrecht, Lerato Motaung, Abeeda Hoosain Hendry and Johann Hugo (bottom) Helena Conradie, Robert MacDonald and Sharon Wood

Page 13: Simphony Sanlam

SUE VAN ZYL

Sue van Zyl is a recon offi cer in the Sanlam Umbrella Fund Accounting

department. She carries out general ledger reconciliations on participating

employees’ accounting transactions. She started as a recon offi cer at Coris

Capital in a temporary position in September 2008 and was later offered

a permanent position in the Umbrella Fund Accounting department.

Sue has been a bookkeeper all her life and is very passionate about

her work. She says,

“It is the one thing

that makes sense to

me because it has a

purpose and provides

results.” She goes on

to describe her work

as “stimulating but

requiring thinking and

problem-solving skills”

and because accounting is about balance, she “fi nds that it refl ects in

many aspects of her life because life is about balance.”

Sue is thrilled about receiving the CEO’s award. She says, “To win

an award of this kind is a great honour and privilege. It’s encouraging

to know that my managers notice my work and appreciate my efforts.

Doing things to the best of my ability is second nature to me because

I fi nd achieving the results very rewarding and fulfi lling. Working in a

team is also very important. Often, reaching optimal results can only be

achieved when two or more people co-ordinate in a spirit of harmony

and aim for the same outcome.”

Sue also says what keeps her going is a lot of self-examination. She

explains, “Life is not always the same or what you would like it to be. I

don’t think that anyone can be satisfi ed if you know in your heart that you

did not complete the task assigned to you successfully. If you are serious

about personal growth, you will realise that every little thing that you do

in life is adding to the quality of your life – whether it is good or bad.

Undivided attention is required to obtain maximum results. It is important

to me that my interests in life should always contribute to personal growth

for myself and others.”

Doing things to the best of my ability is second nature. It’s encouraging to know that my managers notice my work and appreciate my efforts. To win an award of this kind is a great privilege.

STEVEN ROSENBERGFamous author and poet Kahlil Gibran says “work is love made visible”

and Steven Rosenberg can vouch for this. “I love what I do,” says Steven.

“I’m passionate about it and I think that might refl ect in who I am at work.

I love the fact that I can build a model today and trade on the results of

that model. I love the buzz of the fi nancial markets, trading, modelling, etc

and as a member and head of the Derivative Structuring Business, I hope

that my passion for the subject is shared by others in my team.”

Previously, Steven was involved in actuarial modelling work on the

liability side and wanted to start developing solutions for the asset side.

He also had a particular interest in derivatives which dated back to his

actuarial studies. Five years ago, Steven and Lance Katz, a fellow actuary

friend, started developing the Dynamic Hedging solution to match the

complex investment guarantees of life insurance with profi t annuity

liabilities. After a successful trial portfolio, Sanlam wanted to move from

the pilot phase to the real thing and the opportunity arose for Steven to

come on board to implement and manage the programme.

Steven feels very humbled by winning the CEO’s award. “This to me

was the most incredible honour,” says Steven. “While the reason for the

prize was not in the form of the original work Lance and I did, and the

solution required a considerable amount of adaptation for the particular

problem to be solved, it still relied on the original foundation work

created and so it felt like I was being rewarded for all my years of hard

work. Also, it is an incredible honour to be awarded such a prize among

so many other worthy candidates from within the wider Sanlam Group

who are excelling in their areas of specialty.”

What keeps Steven going is his passion for derivatives and the

modelling thereof. He says, “I still go home and read mathematics books

on the subject. The opportunity to learn more and fi nd new solutions

to the many problems life insurers face is a huge driving factor for me.

The combination of actuarial knowledge from the life insurance and the

fi nancial markets is where my passion lies and this drives me to succeed.

It is also very fulfi lling to be a part of a great team. Working with people like

Dawie de Villiers, Francois Malan and the rest of the Sanlam Structured

Solutions team has been wonderful and their skills have added an

incredible value to my work.

12simphony

SANLAM GROUP CEO AWARDS

Page 14: Simphony Sanlam
Page 15: Simphony Sanlam
Page 16: Simphony Sanlam
Page 17: Simphony Sanlam
Page 18: Simphony Sanlam
Page 19: Simphony Sanlam
Page 20: Simphony Sanlam
Page 21: Simphony Sanlam

02simphony

navigation

Page 22: Simphony Sanlam

03simphony