Q2 Quarterly Review
webinar
Regulation 28 changes – let’s test the limits
The National Treasure recently announced significant changes to Regulation 28 of the Pensions Fund Act. Among other changes, pension funds will be allowed to increase their investments in infrastructure projects, private equity funds, and hedge funds. These changes to Reg. 28 significantly open up the opportunity set for our local asset managers, particularly for multi-asset funds.
In August, INN8 Invest’s Head of DFM, Leigh Kohler, sat down with Iain Power, CIO of Truffle Asset Management, Bastion Teichgreeber, CIO of Prescient Investment Management, and Richo Venter, Portfolio Manager for the INN8 Invest team, to discuss how they are seeking to use these changes to their advantage.
While Truffle (fundamental, bottom-up stock-pickers) and Prescient (systematic and quantitative approach) both manage multi-asset portfolios in the DFM solutions, they do so in very different ways.
About the webinar
The National Treasure recently announced significant changes to Regulation 28 of the Pensions Fund Act – the most significant being the change to the offshore requirement limit. The 30% international and 10% African allowance have been replaced with a single offshore limit of 45%.
In addition, pension funds will be allowed to increase their investments in infrastructure projects as the new regulations recognise infrastructure as a separate asset class. Limits for the percentage a fund may invest in private equity funds and hedge funds have also been increased.
These changes to Reg. 28 significantly open up the opportunity set for our local asset managers, particularly for multi-asset funds.
You can expect to learn about:
- Understand the changes to Regulation 28 – including offshore, infrastructure, private equity and hedge
- Understand if and how asset managers are adjusting their long term asset allocation views to accommodate Reg. 28 changes
- Understand how asset managers are able to utilise alternative asset classes given liquidity constraints
- Understand changes to optimal long term asset allocation of solutions required to achieve long term client goals
The speakers
Leigh Kohler
Head of DFM,
INN8 Invest
Leigh joined STANLIB Multi-Manager in 2020 as Head of DFM. He started in the industry in 2003 at Glacier, where he held a number of senior roles including Head: Investment Administration; Head: Asset Manager Research; Head: Investment Solutions – a portfolio that included Glacier Research, Glacier Manco; Glacier Invest (DFM)). He then joined Sanlam Multi-Manager in 2019 as Head: Business Solutions, continuing his role within the DFM, but included a broader mandate including product; distribution; proposition; and institutional business.
Iain Power
Chief IO and Director,
Truffle Asset Management
Iain completed B.Com (Hons) in Investment Management at the University of Johannesburg in 1992 and started his career in investments at RMB Asset Management in 1993. Iain held various investment roles at RMBAM, including being a member of the Board of Directors as well as the Management Board while being a Senior Investment Professional in the equity team.
After 16 years with RMBAM, Iain joined Truffle in May 2010 and is the Chief Investment Officer.
Bastian Teichgreeber
CIO and Co-Head of Quantitative Analytics,
Prescient Investment Management
Bastian joined Prescient Investment Management in August 2015 as a Portfolio Manager and was responsible for various multi-asset strategies. In 2018, he stepped into the role of Head of Prescient’s Asset Allocation Capability and in 2019, to Head of Investment Research. In 2021, Bastian was promoted to Chief Investment Officer.
His tenure includes developing actively managed investment strategies across asset classes and he has been closely involved with the management of optimal fixed-income allocations within Multi-Asset Class Funds.
Bastian holds a BA (Honours) degree in Banking and Financial Management from the Ravensburg University of Cooperative Education in Germany and in 2009, he obtained a Master of Science in Banking and Financial Management from the University of Liechtenstein. He’s a CFA Charterholder and completed his Financial Risk Manager Certification in 2012.
Richo Venter
Portfolio Manager,
INN8 Invest
Richo started his career in 2004 at Life Healthcare as a credit analyst. In 2005 he got an opportunity to work for the FSCA as an analyst in their Collective Investment Schemes department, where his passion for unitised investments started. He subsequently joined STANLIB in 2007 and served in multiple roles, including heading up the STANLIB Asset Management Implementation & Analytics team. In 2013 he joined STANLIB Multi-Manager as a research analyst, conducting investment research and building investment management tools for the business. Since 2016 he has been a member of the portfolio management team, managing various multi-managed funds and models. Richo completed his BCom Honours (cum laude) at the University of Pretoria in 2003 and is also a CFA Charterholder.
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