STANLIB Multi-Manager Global Equity Fund – Termination of Fidelity Mandate

Keeps you updated with news and changes within STANLIB Multi-Manager.

We have implemented a change within the manager line-up of our Global Equity Fund. In this regard Arrowstreet Capital have been appointed at the expense of Fidelity - effective March 2016. As a group STANLIB has a strong relationship with Fidelity dating back to 1996. We continue to believe they are a world class asset manager; however we think the addition of Arrowstreet Capital, a quantitative manager, compliments the fundamental stock pickers within our current composite of manager line up.

Why the change?

We have implemented a change within the manager line-up of our Global Equity Fund. In this regard Arrowstreet Capital have been appointed at the expense of Fidelity - effective March 2016. As a group STANLIB has a strong relationship with Fidelity dating back to 1996. We continue to believe they are a world class asset manager; however we think the addition of Arrowstreet Capital, a quantitative manager, compliments the fundamental stock pickers within our current composite of manager line up.

Looking for a quantitative manager

For some time now we’ve been looking at including a quantitative manager within our line-up. We view the addition of someone who looks at the world from a different perspective (such as trading on the basis of a model which eliminates the emotional attachment to a particular share) as a complimentary skill set to our bottom up stock pickers. We believe Arrowstreet Capital will add to the diversification of our portfolio while not compromising on excess returns.

Who is Arrowstreet Capital?

By way of background, Arrowstreet Capital is an institutional global equity manager with $57 billion in AUM. They were founded in 1999 and are 100% employee owned. Most of the partners are ex CIO’s or Directors of research who earned Ph.D.’s at Princeton, Yale and Harvard University. The investment team is therefore extremely well resourced and continually research and invest in infrastructure to maintain an edge and offer a sustainable source of alpha.