Think Efficient, Realise Potential

Transcription

1 Think Efficient, Realise Potential 1

2 AGENDA 1. BCIS/BIP current status 2. Regulatory changes 3. Boutique Alternative Investment Schemes 4. Our service providers 5. Succession planning 6. Conclusion 2

3 Current status Boutique Collective Investments - R55bn (R2bn Jan 14)) Boutique Investment Partners - R30bn (Rnil Jan 14) Efficient Select - R2bn ARX/Select Manager - R3bn Total EFG AUM/AUC - R90bn (R2bn Jan 14) Assets under Advise: Efficient Group - R11bn (90 financial advisors) BCI Partners

4 REGULATORY CHANGES 4

5 Important recent regulatory changes Treat Customers Fairly (TCF) Retail Distribution Review (RDR) CIS investment universe (BN90) Marketing of CIS funds (BN92) Hedge funds (BN52) 5

6 Treat Customers Fairly Steering Committee to be given a new name and mandate Market Conduct Regulatory Framework Steering Committee Complaints Management Framework - a collated feedback response document will be circulated by the FSB. This is to be dealt with consistently across all licence-types, but under the current legislative framework. The different line areas within the FSB are looking at how they will incorporate complaints management requirements and reporting into their respective legislation The FSB is looking generally at how to co-ordinate all industry reporting to avoid overlaps and duplication Included in the scope of the work of this Steercom, is the Retail Distribution Review 6

7 Retail Distribution Review Industry comments with FSB for finalisation BCI part of ASISA work group and in principle support the submissions made Expect response in 2-6 months from now Phased in implementation Most critical item to us = will co-branded partners be allowed to manage assets and provide advice on the same assets? This has been highlighted by the FSB as a phase 1 priority proposal (or only binder agreements?) Potential solutions. 7

8 BN 90 CIS universe Nothing significant to report = similar to BN80 which it replaced and just contains a few clarifications, e.g. commodities 8

9 BN 92 marketing disclosure Deals with disclosure requirements to investors Minimum Disclosure Document All CIS related marketing material and websites have to be submitted with FSB for clearance FSB fee? Critical that all CIS partners adhere to BN92 at all times 9

10 BN 52 - Hedge Funds Retail hedge funds (RHFs) Qualified investor hedge funds (QIHFs) Prime brokers Distribution Disclosure requirements 10

11 BOUTIQUE ALTERNATIVE INVESTMENT SCHEMES 11

12 Boutique Alternative Investments 2 additional schemes with BCI as manco Retail hedge funds (RHFs) >R50m Qualified investor hedge funds (QIHFs) Specific approved partners only Risk restrictions Service providers Fees Admin Trustee Risk Manager 12

13 OUR SERVICE PROVIDERS 13

14 Our service providers Portfolio administration Maitland (>R2 trillion AUA, largest clients include Coronation, Foord and Nedgroup) Investor administration Silica (owned by Investec, >R1 trillion AUA, largest clients include Investec, Nedgroup and Prudential) Trustee/Custodian - Standard Bank Trustees Auditors KPMG Data Morningstar, MoneyMate, Bloomberg, BCA research 14

15 SUCCESSION PLANNING 15

16 Succession Planning Investor admin - outsourced Portfolio admin - outsourced Experienced multi-skilled BCI team New appointments to cater for growing business BCI now employs 22 staff BIP act as potential back-up to any of the BCI partners EFG open to discuss potential deals 16

17 BCI Core Team Robert Walton Chief Executive Office B.Acc (Hons), CMA, CA(SA) 23 years experience and 9 years of multi-mngmnt experience. Completed various courses at Harvard, Stanford, IMD & Duke executive business schools. Lynn Russell Head of Client Services 24 years financial services experience Gregory Abrahams COO B.Com (Hons), CA(SA) 11 years financial services experience Tracy Marais Head of Fund Admin 12 years financial services experience Charné de Klerk Head of Compliance 21 years financial services experience Gavin Coetzee Business Development B.Com (Hons) 10 years experience Shaun Griffin Business Development B.Com, LLB 18 years experience Tanya Thomson Business Development B.Com (Hons) 13 years experience Amelia van der Ness Business Development B.Com (Hons) 19 years experience 17

18 BIP Investment Team Pierre de Klerk Managing Director & Senior Portfolio Manager B.Com Hons (Act. Sci), CFA - 21 years financial services experience - 13 years multi-manager experience Mitsie van der Westhuizen Analyst B.Com (Economics) - 18 years financial services experience - 13 years multi-manager experience Tavonga Chivizhe Chief Investment Officer B.Bus.Sci Hons (Act. Sci) (UCT) Executive Leadership Development (GIBS) - 9 years multi-manager experience Shamir Popat Analyst B.Fin (Corp. Finance) B Compt (Mulit-Media) - 5 years financial services experience - 3 years multi-manager experience Cleo Molepo Investment Analyst BCom (Marketing Management), Postgraduate Diploma in Financial Planning - 7 years financial services experience Phuti Senyatsi Analyst B.Sc (Mathematics and Statistics) - 3 years financial services experience Act as back-up to BCI partners, when and where required 18

19 CONCLUSION 19

20 CONCLUSION We are the pioneers of boutique partnerships and collaborations in South Africa, and have a track record not easily replicated anywhere else in the industry Well diversified client base and large established service providers Our goal remains to be at the leading edge of industry developments We participate in industry bodies where relevant We are as strong as our partners our business s success rest upon the success of our diversified range of partners together we form a formidable force Service delivery driven and dedication Entrepreneurship/ownership/partnership manage business with great care, our partners and our reputation are very important to all of us We take full responsibility for our own business and our partners success 20

21 THANK YOU 21

22 DISCLAIMER All information used in this presentation and any material referred to herein are subject to copyright and may not be reproduced or used (other than for information purposes) in any way, unless prior written permission has been granted by Boutique Investment Partners (Pty) Ltd ( BIP ) or the appropriate copyright owner. This presentation is intended for information purposes only and none of the information contained in this presentation constitutes investment advice or a recommendation, solicitation or offer by BIP to buy or sell any financial product. The information contained in this presentation has been prepared without consideration of the investment objectives, financial situation or particular needs of any particular recipient. Any transactions described in this presentation may give rise to substantial risk, including the possible loss of principal value, and are not necessarily suitable for all investors. This presentation should accordingly not be considered as a substitute for the exercise of your own judgment or for obtaining independent advice based on your personal preferences and circumstances. Although all precautions have been made to ensure reliability of data and information contained in this presentation, BIP cannot guarantee the reliability thereof. Past performance referred to in this presentation is not necessarily indicative of future performance. Similarly, forecasts contained in this presentation involve risks and uncertainties which may result in future performance, outcomes and results which differ materially from such forecasts. You are accordingly cautioned not to place undue reliance on any historical data, general information or forecasts used in this presentation. BIP accepts no liability whatsoever for any loss, damage (direct or consequential) or expense suffered by a recipient as a result of undue reliance placed on any information contained in this presentation. Boutique Investment Partners (Pty) Ltd is an authorised financial services provider, FSP