The Team

The Equity Research team consists of:

• 

  Brian Pyle

  Head: Equity Research

  Qualifications

  CA (SA); CFA Charterholder

  Current Responsibility

  Brian leads a team of economic, quantitative and equity analysts that provide proprietary research to the Old Mutual Investment Group South Africa (OMIGSA) boutiques. This team also manages various specialist equity funds.

  He is also responsible for the research and analysis of selected JSE-listed companies in the mid- and small-cap arena.

  Previous Experience

  Brian became the sector head of small cap research in 2006. Besides managing the Old Mutual Small Caps Unit Trust Fund, he also was previously responsible for managing the small cap component of OMIGSA’s institutional funds.

  Brian studied at the University of Natal (Pietermaritzburg) and completed articles with KPMG before joining Old Mutual Investment Group as an analyst in 1998. He became a portfolio manager in early 2000.

  

• 

  Rian le Roux

  Head: Economic Research

  Qualifications

  B Econ (Hons)

  Current Responsibility

  As head of Old Mutual Investment Group South Africa (OMIGSA)’s Economic Research Unit, Rian is responsible for macro economic research undertaken by OMIGSA.

  The aim of this research is to provide insight and forecasts of how macro- economic developments may impact financial markets.

  Previous Experience

  After graduating, Rian spent three years with the South African Reserve Bank (SARB), before joining Old Mutual’s Economic Research Unit.

  

• 

  Jeanine van Zyl

  Equity Analyst: Industrials

  Qualifications

  BA Fine Arts; BCom (Hons); GDA; HDip Tax; CA (SA); CFA Charterholder

  Current Responsibility

  Jeanine is responsible for analysing the clothing and durable retail sector.

  She brings with her analytical skills an enquiring mind and experience across sectors.

  Previous Experience

  Jeanine was an auditor at KPMG (Banking And Finance) between 1994 and 1996.

  She then joined Credit Suisse Financial Products in London where she focused on risk management of emerging market derivatives in the Fixed Income Derivatives team.

  She left in 1998 to join Deutsche Bank in London where she continued in fixed income derivative risk management.

  Jeanine joined Old Mutual Investment Group South Africa (OMIGSA) in 1998 as an analyst in the financial services sector where she managed the financial services unit trust for a year. She moved on to analyse small caps before joining the industrial team in early 2004.

  

• 

  Yasmine Ganief

  Equity Analyst: Industrials

  Qualifications

  BBusSc (Hons); BCom (Hons); CFA level three candidate

  Current Responsibility

  Yasmine joined the industrial team in July 2005, where she is currently responsible for analysing the food retail and media sectors as well as Steinhoff.

  She brings with her a thorough understanding and insight into markets, sectors and companies as well as valuation knowledge. Yasmine has five years experience analysing the media and retail sectors.

  Previous Experience

  Prior to joining Old Mutual Investment Group South Africa (OMIGSA), she worked at MetAM as an industrial equity analyst for approximately two years following a one year period as a business developer.

  From August 2000 to 2002 she was a risk research analyst at Cadiz. Prior to Cadiz, her experience included investment marketing and marketing research.

  

• 

  Evan Robins

  Sector Head: Listed Property (Equity Research)

  Qualifications

  CFA Charterholder, MBA (with distinction), SAIFM exams (junior, ordinary and senior), MA (Research Psychology), Bachelor of Business Science (Hons)

  Current Responsibility

  Evan joined Old Mutual Investment Group South Africa (OMIGSA) on 1 December 2009. As a member of the Equity Research team, he is responsible for the portfolio management of all the property funds in research as well as some analyst responsibilities. Evan has 17 years of investment experience.

  Previous Experience

  Prior to joining OMIGSA, Evan was a rated broker analyst in the property sector at Nedsec for two and a half years. He also headed up the Fixed Income asset class for six years for BoE Private Clients.

  Evan also worked at Franklin Templeton NIB Investment and Mawenzi Asset Managers (formerly Brait Asset Managers) as the Head of Fixed Income.

  He also worked as a management and strategy consultant for four years.

  

• 

  Cavan Osborne

  Sector Head: Industrials

  Qualifications

  BCom

  Current Responsibility

  Cavan joined Old Mutual Investment Group South Africa (OMIGSA) in April 2007 as an analyst. As a member of the Equity Research team, he is responsible for the coverage of industrial stocks. He also manages the Industrial Unit Trust Fund. He was appointed as head of the Industrials sector in May 2011

  Previous Experience

  Prior to joining OMIGSA, Cavan was an industrial analyst at Credit Suisse Standard Securities (formerly Andisa, SCMB Securities and Standard Equities) for 10 years.

  During this time he was rated in Financial Mail Analysts’ survey in six categories: diversified industrials; support services; transport, building and construction; hotels, gaming and leisure and small and mid-cap companies. Cavan has 14 years of work experience in the investment industry.

  

• 

  Gregory Cort

  Equity Analyst: Industrials

  Qualifications

  BBusSc (Hons), CFA Charterholder

  Current Responsibility

  Greg joined Old Mutual Investment Group South Africa (OMIGSA) in June 2005, initially working on various projects.

  In April 2006, he transferred to Equity Research where he covered shares within the listed property sector. In January 2008, he moved to join the Industrials team. As a member of the Equity Research team, he is currently responsible for analysing stocks in the IT, chemicals food and telecommunications sector.

  Greg is an innovative thinker who actively seeks ways of breaking new ground. His thorough approach often brings new insight into a company or industry. He also has a wide range of interests and is a team player.

  Previous Experience

  Prior to joining Old Mutual, Greg had wide-ranging responsibilities at Regarding Capital Management. Before that, he worked on various projects at African Alliance in Johannesburg. Greg has six years of work experience in the asset management industry.

  

• 

  Siboniso Nxumalo

  Sector Head: Financials

  Qualifications

  BCom Hons (UCT)

  Current Responsibility

  Siboniso joined Old Mutual Investment Group South Africa (OMIGSA) in February 2007 as an analyst. As a member of the investment research team, he is responsible for analysing shares predominantly in the construction and electronics sector. In 2011, he was appointed to head up the financials team and assumed responsibility for bank analysis.

  Previous Experience

  Prior to joining OMIGSA, he was a TOPP trainee accountant at Old Mutual for three years.

  

• 

  Warren Jervis

  Sector Head: Mid- and Small Companies

  Qualifications

  BCom: Economics (Hons)

  Current Responsibility

  Warren joined Old Mutual Investment Group South Africa (OMIGSA)’s Equity Research team in May 2006 as a research analyst and portfolio manager.

  He was named sector head of the mid- and small companies portfolio and the portfolio manager of the Old Mutual Small Companies Unit Trust Fund in September 2009. In addition, he has managed a portion of the mid- and small cap component of OMIGSA’s institutional funds for the last five years.

  His key value-added to OMIGSA is his in-depth knowledge of, and considerable insight into, the mid- and small caps sectors.

  Previous Experience

  Prior to joining OMIGSA, Warren was a senior analyst and portfolio manager at Nedcor Investment bank for nine years. Warren has 22 years’ work experience in either analyst or portfolio management positions, both in SA and in London.

  

• 

  Tracy Brodziak

  Equity Analyst: Resources

  Qualifications

  BBusSc (Finance), CA (SA), CFA Charterholder

  Current Responsibility

  Tracy is currently responsible for the fundamental analysis of selected resources companies, and also fulfils the role of a cross-sector equity strategist. Prior to this, she was Sector Head: Financials in the Equity Research boutique and the fund manager for the Old Mutual Financial Services Fund. Tracy is an experienced analyst and brings unique insight into the financial sector. Her financial unit trust has been a consistent upper quartile performer.

  Previous Experience

  Tracy completed her articles at KPMG in the financial services division before joining Old Mutual Investment Group in 2001, where she has analysed companies in the small-cap, IT, food and pharmaceutical sectors. She started analysing the banks in late 2003.

  

• 

  Gustav Schulenburg

  Equity Analyst: Industrials

  Qualifications

  BCom, MBA: Investments

  Current Responsibility

  Gustav is an Equity Analyst covering the construction and transport sectors on the JSE. He brings a fresh view on equity analysis given his knowledge of markets and successful experience in trading and managing private client equities.

  Previous Experience

  He joined OMIGSA in 2008 as Markets Analyst within the Investment Research and Reporting team, and he was appointed as Equity Analyst in the Equity Research boutique in June 2011.

  Prior to 2008, Gustav worked as an associate at JP Morgan Worldwide Securities Services in their performance team.

  

• 

  Sharief Pansarey

  Equity Analyst

  Current Responsibility

  Sharief joined Old Mutual Investment Group South Africa (OMIGSA) in July 2008 as an Equity Analyst. As a member of the Equity Research team, he is responsible for valuing and researching resources companies. His current responsibilities include, research and analysis of the larger listed resources companies listed on the JSE.

  Previous Experience

  Prior to joining OMIGSA, Sharief was an Equity Analyst at Credit Suisse Standard Securities for three years. His responsibilities included, research and analysis of listed companies within the gold and platinum sector of the JSE.

  Sharief has six years work experience in equity research.

  

• 

  Thabo Motloung

  Listed Property Analyst

  Qualifications

  BCom

  Current Responsibility

  Thabo joined Old Mutual Investment Group South Africa (OMIGSA) in August 2006 as a listed property analyst. His current responsibilities include analysing and recommending listed property stocks for inclusion in quoted property funds. He brings with him a fresh perspective when looking at listed property companies.

  Previous Experience

  Prior to joining OMIGSA, Thabo was a remuneration consultant at Old Mutual for two years. He was also a financial analyst for two years at Procter and Gamble.

  

• 

  Leanne Micklewood

  Quantitative Equity Analyst

  Qualifications

  BCom (Hons), CFA Charterholder

  Current Responsibility

  Leanne’s main responsibility is leveraging quantitative research in order to complement our fundamental research and enhance our alpha-generating capability. She develops and maintains several multi-factor share screening models and also manages a hedge fund based on the model’s top picks.

  Previous Experience

  Leanne joined the Performance Research team for three years and was responsible for the house view maintenance and reporting. This was followed by two years in the Asset Allocation team as a Quantitative Analyst responsible for competitor research and updating the Quantitative Asset Allocation Model.

  Leanne then worked in the Quantitative and Risk unit for another two years, where her responsibilities included risk reporting. For the next six years, Leanne headed up the Performance Research Team and was responsible for all performance and attribution reporting within Old Mutual Investment Group South Africa (OMIGSA).

  

• 

  Johann Els

  Senior Economist

  Qualifications

  BCom (hons), MCom

  Current Responsibility

  As one of two economists at Old Mutual Investment Group South Africa (OMIGSA), Johann is jointly responsible for all areas of macro-economic research. This includes analysis of the global economy as well as local economic research. Specific focus areas include inflation and fiscal matters.

  Previous Experience

  After graduating at the University of Stellenbosch where he studied courtesy of a South African Reserve Bank (SARB) bursary, Johann joined the SARB’s economics department. Following a period as an economics lecturer at the University of Stellenbosch he joined Trust Bank (one of the constituent banks of today’s ABSA) as an economist. Johann started as an economist at Old Mutual in 1991.

  

• 

  Jon Duncan

  ESG Analyst

  Qualifications

  MSc: Environmental Science, BSc: Civil Engineering

  Current Responsibility

  Jon joined the boutique on 1 February 2011, and some of his responsibilities, include: - Developing a capability to incorporate ESG factors into company analysis and valuation, as well as input into boutiques’ portfolio positioning. Driving and representing OMIGSA in industry discussions on SRI (Socially Responsible Investing)/ESG (Environmental, Social and Governance) principles, regulations and frameworks such as the South African Code for Responsible Investment (CRISA) and the United Nations Principles of Responsible Investment (UNPRI).

  He has a proven ability in managing and growing a multidisciplinary sustainability consulting practice operating across diverse geographies in multiple sectors. Technical expertise in energy, corporate governance, climate change, water, waste and social issues with significant experience in strategic corporate environmental and social risk management.

  Previous Experience

  Prior to joining Old Mutual Investment Group South Africa (OMIGSA), Jon worked at Environmental Resource Management as a partner for four years. Before that, he worked at Trialogue as a senior sustainability researcher and consultant. The rest of his working experience comprises of similar positions in addition to two directorships.

  

• 

  Ian Woodley

  Head: Resources Sector Research

  Qualifications

  BSc (Hons: Mining Engineering), MBA, CFA Charterholder

  Current Responsibility

  Ian joined Old Mutual Investment Group South Africa (OMIGSA) in April 2011. He is responsible for the diversified mining companies and non-mining companies such as steel, forestry and paper. He also manages the Mining and Resources and Gold Unit Trust Funds.

  Previous Experience

  As a qualified engineer, he started his career on the mines, before becoming a mining analyst. After that he moved to Stanlib (then Liberty), where he headed up their mining research and managed a number of retail and institutional mining and equity funds for over 11 years. Apart from managing resources funds, his later roles at Stanlib included Member of Exco, Head of Equities, Head of Research, Pension Fund Manager, and General Equity Fund Manager. Most recently, Ian was head of Stanlib’s Specialist Equity franchise, responsible for R10.7 billion in assets under management.

  

• 

  Ganesh Shenoy

  Equity Analyst: Industrials

  Qualifications

  BCom Hons (FAPM), BCom Hons (IS), BCom PGDA, CA (SA)

  Current Responsibility

  Ganesh’s responsibilities include researching and formulating views on small and mid-caps listed on the JSE. He also assists the portfolio manager with ad-hoc reports on portfolio management, portfolio analysis and fund reporting. Ganesh has an in- depth understanding of listed companies, valuation and analysis experience.

  Previous Experience

  Prior to joining Old Mutual Investment Group South Africa (OMIGSA), he was an assistant manager at PricewaterhouseCoopers for four years. Ganesh has five years of work experience in financial services.

  

• 

  Funeka Beja

  Equity Analyst: Industrials

  Qualifications

  BBusSci (Finance)

  Current Responsibility

  Funeka joined OMIGSA in August 2011 as an Equity Analyst. As a member of the Equity Research team, she is responsible for analysing the healthcare and packaging sectors.

  Having covered these sectors before amongst other consumer-related sectors enables Funeka to bring her experience and industry knowledge to the fore.

  Previous Experience

  Funeka then joined Afena Capital as an Investment Analyst, with a focus on consumer-related industrial stocks for four years, prior to joining OMIGSA.

  Funeka was a money market corporate customer dealer at FirstRand Treasury for the first two years of her career. She then moved over to the world of equity analysis by joining Vunani Securities as a sell-side equity analyst.

  Funeka has five years of work experience in equity analysis and fundamental research.