Listed Investments unit is responsible for the formulation and administration of strategies relating to all investments made through registered stock exchanges.
The Listed Investments unit is responsible for the formulation and administration of strategies relating to all investments made through registered stock exchanges. We deal directly with the asset managers based on strategies derived from our ALM (Asset Liability Management). Investments are made at the discretion of the Asset Manager, who in turn has a mandate with the client, namely GIPF. The Investment Guidelines incorporated in the mandate stipulates what the asset manager may or may not invest in. No Unlisted Investments are allowed in these mandates, unless there is a specific reason, such as a share being delisted and therefore still be kept in the portfolio to recoup dividends. The mandates differ on regional focus and can vary from Local Mandates to Global Mandates. The mandates also make provision into different asset classes such as Equities, Bonds, Cash or Properties.
Global Equity – there are several managers with these mandates that have a non-Africa focus. They mostly invest in Developed markets such as the USA, Europe (inclusive of UK) and some key Asian markets. The following managers have these mandates:
- Hosking Partners (UK-based)
- Sands Capital (USA-based)
- Sanders Capital (USA-based)
- Investec Asset Management (UK-based)
- Cohen and Steers (Global Listed Infrastructure Mandate) UK-based
Listed Africa – these managers focal area is investing in listed African markets. The greatest exposure is however centred around a few key markets such as Nigeria, Egypt, Kenya. These investments range from telecommunications to mining. All investments are listed and regulated in a formal stock exchange. The following managers have these mandates:
- Investec Asset Management Africa Fund (SA-based)
- All Season Africa Fund(SA-based)
Listed Equity – these managers focal area is investing in listed South African equity markets. All investments are listed and regulated in a formal stock exchange. The following managers have these mandates:
- Abax (SA-based)
- Sovereign Asset Management
- Namibia Asset Management
- Mazi Capital (SA-based)
- Visio Capital (SA-based)
- Allan Gray
- Sisedi Investment Group (South African Listed Equity Mandate – Incubation Mandate)
- Catalyst Investment Managers (South African Listed Equity Mandate – Incubation Mandate)
- Mopane Asset Management (South African Listed Equity Mandate – Incubation Mandate)
- Arysteq Asset Management (South African Listed Equity Mandate – Incubation Mandate)
- Mumi Investment Managers (South African Listed Equity Mandate – Incubation Mandate)
Listed Bond – these managers focal area is investing in listed South African bond markets. All investments are listed and regulated in a formal stock exchange. The following managers have these mandates:
- Ninety-One Asset Management
- Prudential Asset Management
- Momentum Asset Management
- Ethos Credit Partners (SA-based)
- Tri-Alpha (SA-based)
- Sanlam Investment Management
Listed Equity (Domestic-only) – there is a single manager that operates this unique mandate. Due to the vagaries of our Namibian stock exchange, we have more of a buy-and-hold approach to this mandate. The GIPF has appointed a single managers so as to cut down on trading activities within our managers, whilst the beneficial owner of the investment remains the GIPF. All investments are listed and regulated in a formal stock exchange. The following manager has this mandate:
- Namibia Asset Management
Listed Equity (Dual Listed-only)– these managers focal area is investing in Namibian dual-listed equity market. All investments are listed and regulated in a formal stock exchange. The following managers have these mandates:
- Namibia Asset Management
- Sanlam Investment Management
- Old Mutual Investment Group Namibia
Bond – these managers focal area is investing in the Namibian bond market. Most of the investment made are in the form of either public corporate bonds or government paper. The following managers have these mandates:
- Ninety-One Asset Management
- Old Mutual Investment Group Namibia
- GQG Partners (USA-based)
- Alliance Bernstein (UK-based)
- Schroder Investment Management (UK-based)
- Blackrock (UK-based)
- Insight Investment Management (Tactical Asset Allocation Mandate) UK-based
- Lane Clarke Peacock (Investment Consultant)
- Finance ( Manager Selection)