Absa Asset Management and Absa Multi Management were presented with three awards for delivering exceptional client performance at yesterday’s Raging Bull Awards ceremony held at the Hilton Hotel in Sandton.
The Absa Property Equity Fund was recognised as the Best South African Real Estate Fund, for having the highest investment return over three years in the ASISA South African Real Estate General subcategory. The fund also won a second Raging Bull for Best South African Real Estate Fund on a Risk-Adjusted Basis and also recorded the highest PlexCrown rating in the same subcategory.
Managed by Fayyaz Mottiar, the Absa Property Equity Fund returned an exceptional 39.7% in 2014 and was the top performer in the Property category for unit trusts in South Africa. Over the past three years it returned 26.8% per year, also being consistently placed first in its category. The fund was the second best performing unit trust in the country in 2014.
“The recipe for our success is keeping our focus on our investment philosophy and process, as well as the underlying fundamentals of the businesses in the listed property space by ignoring the short-term distractions and emotions. This invariably leads to above average returns in the long term,” says Mottiar.
“We look to invest in companies that have smart and capable management and or the ones that own the best located properties. We still see listed property as one of the best places to invest in the medium to long term. We believe listed property still remains the most attractive asset class because of the contractual nature of the income and it’s inherent above inflation rental escalation,” he adds.
There has been a massive turnaround in the fund’s performance since Mottiar assumed its management and it is now the best performing fund over all periods.
The third award went to the Absa Multi-Managed Bond Fund, which won the Raging Bull Award for the best ASISA South African Interest Bearing Variable Term Sector for the period ending 31 December 2014. This fund is an actively multi-managed fund for investors seeking exposure to the South African fixed interest market, combining the collective expertise of selected fixed interest managers with proven track records.
Armien Tyer, the Head of the Investment Cluster at the Barclays Africa Group, says these achievements are a reflection of the inherent talent in the investment team across the Investment Cluster, including Absa Asset Management and Absa Multi Management.
“This is further confirmation that we are more than a bank and this achievement builds on our investment pedigree and several other pockets of excellence, as well as our talent and skill. We are continuing to build capacity,” he says.