On the face of it, this might not be the best time to be taking on one of the big jobs in asset management. Not only are active managers under pressure like never before from the rise of cheaper index-tracking funds, the Covid-19 pandemic and the resulting market dislocations have put them under even more intense scrutiny.
But none of it fazes Duncan Artus, newly appointed as head of investments at Allan Gray, one of SA’s most recognised managers with just under R300bn in assets at the end of 2019, according to its latest annual report. In a sign of how tough things have been, that year saw outflows of R16.5bn for the Cape Town-based company. Artus succeeds Andrew Lapping at the start of September, who departs after 12 years in the post and 20 years in the firm.