Our mission is to help clients achieve their financial goals whilst providing a fulfilling environment for our employees.
Quality: We are committed towards quality – in our investments, in our service and in our business practices. Our investment philosophy is rooted in quality. We place higher priority on capital preservation than on the achievement of outsized gains that incur sizable risks. We employ a clear, disciplined investment process that utilizes proprietary research and relies upon our own judgment when making investment decisions.
Service: We aim to help clients achieve their long term financial goals. We believe that frequent, clear personal and written communication are the best means to render superior service. It is the responsibility of every person in the business to conduct themselves in a courteous and professional manner when dealing with our clients and their advisors. We also believe that by remaining focused we are able to best serve our clients to achieve their goals.
Integrity: We hold ourselves to the highest ethical standards. We tell the truth to our clients, our partners and each other.
People: We realise that our people are our biggest assets. We encourage the development of our talented people through empowerment, accountability and opportunity. As a black controlled business we also strongly subscribe to the development of previously disadvantaged individuals.
Community: We have an obligation to help improve the communities in which we operate. As a business we support community development and education programmes, whilst our employees are encouraged to contribute their time and effort to worthy local causes and activities that give back to the community.
Independence: Our independence allows us to remain focused on our investment approach, without outside influence, to help our clients achieve their long term financial goals. Independence allows for the required patience that is required to produce long term performance.
Zwelakhe is the Chief Investment Officer, director and co-founder of Benguela Global Fund Managers (Pty) Ltd. He has over 16 years of investment experience. Most recently Zwelakhe, spent 3 years as Head of Equities and Portfolio Manager at Mergence Investment Managers (Pty) Ltd where he successfully managed the equity mandates for clients. Prior to Mergence, Zwelakhe was Portfolio Manager and Equity Analyst at Stanlib where he managed the Global Science and Technology Fund as well as co-managing the Stanlib Value Fund. Prior to this he spent 4 years at Allan Gray as an Equity Analyst. Zwelakhe has an excellent record as a portfolio manager.
Zwelakhe holds a BCom Hons degree in financial management.
Karl is the Head of Research, director and co-founder of Benguela. Karl has more than 15 years finance and investment experience. Most recently Karl successfully co-managed the equity funds at Mergence Investment Managers (Pty) Ltd. Prior to Mergence, Karl spent 4 years in London where he worked as an analyst at Blue Bay Asset Management Plc (a global asset manager with over US$ 50 billion under management) and Lonrho Plc (Pan-African conglomerate).
Karl holds a BAcc and BCom (Hons) degree and is a Chartered Accountant (SA).
Sibongile is the Head of Operations and Risk and director at Benguela. She has over 15 years of Financial Support and Management experience. Most recently Sibongile spent 3 years as Business and Operations Manager at University of Pretoria Football Club (part of the Premier League). Prior to this, Sibongile spent 4 years as Product Controller for JP Morgan in New York and London. Additionally Sibongile has spent 2 years at Coronation Fund Managers in the role of Institutional Sales & Business Development.
Sibongile holds a B Com Statistics degree.
Benguela has an investment team comprising of 8 Analysts with various backgrounds, conducting detailed fundamental research and generating a continuous flow of investment ideas.
While Benguela outsources its fund accounting function, the operations, risk and client service team comprises of 5 people ensuring that our clients receive excellent dependable service.
Corporate Social Responsibility
At Benguela we are very conscious of our social responsibilities, given South Africa's past and our developmental needs. We have a passion for education, skills development and community development.
COMMUNITY DEVELOPMENT: Even during the setup phase of our business we have been active in supporting initiatives in communities such as Heilbron (Phiritona), where we have participated in workshops and presented to the community about small business development, trying to grow business skills and encouraging entrepreneurship. Several business initiatives are now at implementation stage.
Benguela’s community development programme kicked-off in the Northern Free State town of Phiritona (Heilbron) in January 2014. The town’s historical dependence on agriculture and the allure of nearby Gauteng has resulted in local unemployment. Benguela has been assisting initiatives such as One God One Nation by way of motivational talks and business workshops that help empower the local community to bring about change by creating successful and sustainable entrepreneurial businesses in the community.
EDUCATION AND SKILLS DEVELOPMENT: Benguela runs an equity analyst traineeship with the intention of developing new skills for our industry and grow our team. Each year Benguela indentifies four township schools in which the directors will provide exam preparation through a winter school for Grade 12 Maths, Physical Science, Accounting and Economics. Other initiatives that we have undertaken is an internship program, allowing young graduates to experience the work environment. As Benguela grows, such initiatives will grow with us.
Governance and Compliance
Benguela Global Fund Managers (Pty) Ltd views good governance and compliance as extremely important. We have to uphold good governance with a standard as high as we would expect of companies in which we invest. Governance touches not only compliance with relevant laws, but goes to matters of ethics, principles by which we stand, and ways we conduct business.
Financial Advisory and Intermediary Services (FAIS)
Benguela Global Fund Managers (Pty) Ltd ("Benguela") is an approved financial services provider in terms of the Financial Advisory and Intermediary Services Act, No.37 of 2002. Our FSP number is 45122.
Conflict of Interest
The Conflict of Interest Management Policy outlines the policy adopted by Benguela and its employees, key individuals and representatives, in terms of the requirement of the FAIS Act regarding declaring and managing conflicts of interests as defined. Benguela considers that all staff should be bound by the same provisions whether or not they are appointed as key individuals or representatives. The Policy is available here:
Complaints Handling Procedure
The FAIS Act inter alia deals with complaints procedures and the recourse available to users of financial products and services. Financial service providers are required to have systems in place for the efficient resolution of complaints. Our complaints handling procedure can be downloaded by clicking on this link:
Promotion of Access to Information Act (PAIA)
The Promotion of Access to Information Act, No 2 of 2000, governs the right of access to any information held by any private or public body that is required for the exercise or protection of any rights. However, before access to any information held by Benguela can be granted, the applicant must follow the Act and due procedure. Our PAIA manual describes the procedure the applicant must follow, and is available in PDF format by clicking here:
Compliance is outsourced to Independent Compliance Services (Pty) Ltd, a licensed compliance practice. The Chief Operating Officer liaises closely with ICS and the Financial Services Board on compliance matters.
Our fund administration is outsourced to an independent service provider, Maitland Fund Services (Pty) Ltd. Maitland is a large, well established, independent administrator. On a daily basis, reconciliations occur to ensure that information Benguela has on its own databases matches the investment data held by Maitland for respective clients and portfolios.