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| Overview
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RMB Asset Management is a wholly owned subsidiary of the Momentum Group, which is part of the FirstRand Group, one of South Africa’s largest financial services group.
RMB Asset Management was formed in 1990 as the fund management arm of Rand Merchant Bank. Today, RMB Asset Management has grown into one of South Africa’s largest investment managers and functions as a separate legal entity with its own board of directors.
A proudly South African Asset Manager, RMB Asset Management has maintained a truly domestic focus that continues to deliver strong performance together with exceptional client service. We have a performance driven culture with a strong focus on superior delivery in all spheres of the business. Integrity is never compromised. The company has a flat structure, which empowers people and encourages interactive relationships. Constructive criticism and challenging debate are encouraged. There is a very strong focus on teamwork and shared responsibilities without detracting from individual accountability.
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| Our Investment Philosophy
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We aim to generate competitive, risk-adjusted returns on a consistent basis through a full market cycle. We do this through a focus on active investing based on asset allocation and security selection, and integrate these with portfolio construction policies to control risk.
We believe that intrinsic valuation is the only sustainable basis for long-term investment success and that risk budget should be deployed wisely and consistently.
We believe that disciplined adherence to a clearly defined investment process is necessary for investment success. Including formal risk-budgeting and portfolio construction as a core competency within our process assists with this discipline and ensures that our views are transferred into our portfolios consistently and efficiently.
We believe that rigorous and open-minded team debate facilitates superior investment decisions, but that focused accountability is required for efficient implementation of ideas. The process helps to organise team resources effectively, but also rewards individual flair.
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| Our Investment Process
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Our investment process is a combination of a top-down macro economic process, which occurs simultaneously with a bottom-up stock selection process.
Top-down Asset Allocation Process
The top down process is initiated by macro economic research and the interpretation of the investment cycle, which is conducted by the strategist. Based on this research, the expected returns for the different asset classes and equity sectors are forecast. The specialist equity teams make recommendations regarding the sector weightings and consolidated themes based on their industry and company research.
The investment committee consists of a diverse pool of investment professionals and the debate combines the strategic input and cutting edge ideas of a range of specialists from varied perspectives, with the balanced judgement and wisdom of experienced portfolio managers.
Bottom-up Equity Stock Selection Process
Research
Company research is conducted along industry lines by the respective specialist equity teams. The research process focuses on a combination of industry analysis, competitor analysis, management interviews and company visits. In depth consideration is given to both the quantitative factors and the qualitative factors. This includes assessing the quality of the management of the company, levels of corporate governance, ascertaining whether the interests of the company are aligned with those of the shareholders, ensuring the company has a history of delivery and assessing whether it is a sustainable business or not.
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| Legislation and Compliance
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