Not since the last stock market bull run in 1998 have South Africa’s investment professionals been so mobile.
“High levels of staff turnover have shaken up the asset management industry over the past year with hedge funds and emerging black economic empowerment companies both drawing key staff from moretraditional players,†said Monene Watson, Head of Equities at SYmmETRY Multimanager.
SYmmETRY’s analysis of staff movement at the 12 largest managers during 2005 shows that 17% joined BEE and boutique companies with a further 20% moving to hedge funds. Another 24% moved within theindustry, while 39% left the investment business.
