After completing his articles at Alex Aitken and Carter he joined UAL Merchant Bank in 1979, initially assisting as a portfolio manager and later working as an investment analyst. After completion of a full time MBA he relocated to the USA where he spent nine years as a stockbroker/financial consultant, mostly with Shearson Lehman Bros. He returned to South Africa in 1992 and joined Old Mutual Invesments with involvement in portfolio management and client report backs. He joined SCMB Asset Management division in 1995, after a stint in portfolio management at RMB Asset Management. Paul Hansen is responsible for managing the onshore portion and Fidelity Investment Managers the offshore portion.
FUND OBJECTIVES AND FOCUS
The STANLIB Euro Currency Fund of Funds aims to obtain as high a level of current income as is consistent with capital preservation and liquidity. Investments will, apart from assets in liquid form, consist solely of participatory interests of other collective investment schemes from European currency denominated fixed-interest collective investment schemes. The manager will only include foreign collective investment schemes which have been approved by the FSB to be marketed in South Africa. Initially, the foreign collective investment schemes included in the portfolio will comprise: Fidelity Funds SICAV, Fidelity Funds SICAV II, Fidelity Investments Funds OEIC and Fidelity's UK Authorised Unit Trusts. This portfolio may have a maximum of 100% direct and/or indirect foreign exposure.