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Inside Institutional: Edition 1

A message from Tino’s desk

Welcome to the first edition of our thought leadership newsletter, Inside Institutional – where we share insights, express ideas, and keep you updated on events that move the market and have an impact on the investment landscape.

We are at an exciting juncture, after recently concluding the purchase of Absa Investment Management. We are now working towards successfully integrating the two businesses to ensure that your experience as our client remains seamless. A highlight for our investment teams was starting the year off winning several accolades at the 2023 Raging Bull Awards, the Morningstar Fund Awards, and the South African Listed Tracker Awards.

In this edition, we thank Nersan Naidoo for his immense contribution to Sanlam Investments during his 21-year tenure with the business as he prepares to step down as CEO at the end of June 2023. Sanlam Investment Group CEO Carl Roothman will assume Nersan’s responsibilities in addition to his current role. We also bid farewell to Jason Liddle – our head of distribution and Cromwell Mashengete, the Active Manager’s co-head of the equity capability who retired in March 2023. In the interim, I will be leading the distribution function in addition to my other responsibilities. We also congratulate Natasha Narsingh, who has successfully led our Absolute Return capability, as she takes on her new role as the Active Management business’s CEO, effective 1 April 2023.

On a more sobering note, the Financial Action Task Force (FATF) recently announced that it was adding South Africa and Nigeria to its grey list. From a country-perspective, it seems like we are clear from a regulatory point of view but lack an effective implementation standpoint. More details on what this means in our article titled, ‘South Africa has been grey listed, what now?’, where we share expert views from our multi-manager.

Looking ahead to the remainder of the second quarter of 2023, our private markets team are making huge strides in building innovative solutions that offer investors good returns while also being able to make a sustainable difference in a country hit with many challenges. One such way we are doing this is through our property impact team who are looking at opportunities that can narrow the country’s income inequality gap. Thando Sishuba, our head of direct property, makes a compelling case for how we can advance SA Inc. through social infrastructure investment.

The Private Equity Fund launched amid the Covid-19 pandemic as part of the Investor Legacy Range which was Sanlam’s commitment to supporting the recovery of South African businesses negatively impacted by Covid-19 is nearing its fund close. We extended the fund close from 31 March 2023 to 30 June 2023.

We expect the fund to close between R2.5bn and R3bn. The Private Equity team discusses one of their more recent acquisitions, skip waste, a business that focuses on turning waste solutions into green solutions.

Still looking at the challenges facing the country, South Africa is in the grip of its most severe energy crisis, and years-long recurrent power cuts have progressively worsened. The impact of these power cuts on the economy cannot be underestimated. We explore the viability of nuclear energy in South Africa.

Turning our focus offshore, our head of global emerging markets, Feroz Basa, looks at the opportunity emerging markets present to investors, where he makes the case for why now is the time to invest in emerging markets.

We hope you enjoy this first edition of Inside Institutional.

Thank you for your continued support.

Tinotenda Mtemeri
Head: Institutional Distribution

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