Taquanta acquires Ngwedi in a deal that fosters strategic transformation and consolidation in the South African black-owned asset manager universe.
Taquanta, the Best of Breed manager of Nedgroup Investments’ Cash and Core fund ranges, will be joining forces with Ngwedi. This brings together two formidable investment teams and gives rise to Taquanta Asset Managers (TAM) being a more transformed, scalable, dynamic, and sustainable asset manager.
The highly regarded Ngwedi investment team of Moneimang Pudumo-Roos (Monei), Raphael Nkomo, Farzana Bayat and Teresa Lu will join their new colleagues at TAM and in doing so form an impressive team of investment professionals with unparalleled skills, experience, and track record.
Raphael Nkomo will take over as Chief Investment Officer (CIO) from Ray Wallace. Ray Wallace will remain very involved in the overall investment process, with a significant emphasis on all cash assets that represent the largest pool of assets currently under management at TAM. Ray will lead the strategic direction of the team responsible for cash and related investment products. In line with TAM’s strategic vision of “changing of the guard”, Ray is thrilled to be handing over the CIO role to an accomplished investment professional such as Raphael. Both Farzana and Teresa will not only continue to manage Ngwedi’s existing client assets, but will take on even greater responsibility by providing investment insight to the TAM team members in the management of the cash, enhanced cash, bond and flexible income mandates.
The wealth of investment, technical and business development skills that the Ngwedi team brings across, together with the existing skills within the Taquanta investment team, undoubtedly creates one of the most experienced investment teams in the country, with a track record in their fields that is second to none. The combination of these skills and the introduction of fresh investment ideas will, on the one hand enhance the investment outcome for the benefit of our clients and, on the other hand, allow TAM to maintain its position as the leading independent, black-owned asset manager in South Africa. Collectively, the two entities present the most dynamic and transformed investment team in the industry.
The investment philosophy, style and process that has been developed and refined by TAM over many years will remain in place, but from now on be driven by a stronger and more transformed team who share a similar investment philosophy.
Nedgroup Investments is delighted to be associated with this unique and much-needed opportunity for the development of a fully transformed and black-owned business, with sufficient scale and expertise, to compete on an equal footing with the best the South African asset management industry has to offer.
Nedgroup Investments fully supports the merger and looks forward to working with the expanded Taquanta team to build on the long and successful partnership we have had with Taquanta.