By Hendrik du Toit, Chief Executive Officer of Investec Asset Management
Over the past week, many of us have been deeply disturbed by the actions of our President. The recall of the then Finance Minister from an investor roadshow in London and the subsequent cabinet reshuffle, against the background of increasing evidence of state capture, have caused huge angst about the future of our country. There is a statement on our website which spells out the impact that these actions may have on the lives of ordinary South Africans, together with one commenting on the rating decision by Standard & Poor’s, here.
There is no doubt that our country and the ruling party in particular will be making far-reaching choices over the coming months. At this moment the very essence of our young democracy is at stake.
In our 26 years in business we have witnessed a great deal of volatility, both in markets and in politics. We have navigated the highs and lows of South Africa and the world by remaining focused on the task at hand and always thinking and planning for the long term. It is too early to predict how the current situation is going to unfold. As with any disruption, this will bring its own threats and opportunities. All we can do is to make the most of these for our stakeholders, starting with our clients.
As a firm, Investec Asset Management continues to dedicate itself to building a better tomorrow. We therefore actively engage and influence where we can. In the case of South Africa, the Investec Group is an active participant in Business Leadership South Africa. Stephen Koseff is an active participant in the CEO initiative which works closely with government and labour on common issues. All parts of the Group work through their industry associations to make our voices heard.
May wisdom and sanity prevail in our beloved country. Right now our institutions are being tested. Now is the time for the good people to stand up and be counted. There is no reason why we cannot rid this land of corruption and achieve a better life for all.
Investec Asset Management is responsible for the investment management of R1.6 trillion of client assets globally.
About Investec Asset Management
Investec Asset Management is an independently managed subsidiary of Investec Group.Investec Asset Management is a specialist investment manager, providing a premier range of products to institutional and individual investors. Established in 1991, the firm has been built from start-up into an international business managing approximately R1.6 trillion* on behalf of third party clients. The firm seeks to create a profitable partnership between clients, shareholders and employees, and to exceed expectations for both client service and performance.
*As at end December 2016
Investec Asset Management
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