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Johannesburg - Asset management firm Stanlib looks set to lose another big gun - property portfolio manager Evan Jankelowitz.
The property and fixed income portfolios have been a shining light for Stanlib in the last few years as its equity franchise struggled.
The Stanlib Property Income Fund, managed by Jankelowitz and Keillen Ndlovu, has R3.8bn in assets under management, up almost R800m since June 2010. It is rated as the ninth best performing domestic unit trust in South Africa over the last 12 months.
The fund was the winner of the Best Domestic Real Estate Fund and Best Real Estate Fund at the Raging Bull Awards in February this year.
Jankelowitz also manages the Stanlib Aggressive Income Fund which has around R740m in assets.
Jankelowitz downplayed the rumour, telling Fin24.com: “Nothing has been signed or sealed, I’m still very much at Stanlib.”
However, a phone call to Stanlib CEO Thabo Dloti confirmed that Jankelowitz had another offer on the table.
"He's a critical member of our team and we are engaging him," said Dloti.
It is understood that Jankelowitz has until the end of October to make up his mind.
The loss of another high-profile analyst will be a blow to Dloti, who took over in March this year.
After a promising start which saw Stanlib securing high profile players such as Andrew Vintcent (RMB), Kate Rushton (Absa Capital) and small-caps guru Shawn Stockigt, the asset manager lost its head of retail Mike Galloway to competitor Hollard and head of its value team Hlelo Giyose.
Stanlib is a subsidiary of JSE-listed Liberty Holdings [JSE:LBH].
- Fin24
