Asset managers in South Africa manage trillions of rand, and the CEOs of these companies are paid millions to manage pensions, investments, and insurance products., the local Collective Investment Schemes industry ended 2023 with R3.5 trillion in assets under management, a new record for the industry – an 11% increase from the prior year.
Sunette Mulder from ASISA said the growth was due to the market performance and net inflows of R110 billion in 2023, as local asset managers saw net outflows of R2 billion when reinvested dividends were excluded.With asset managers managing trillions, we’ve decided to compare the pay of their CEOs. It should be noted that these figures come from the latest integrated reports from JSE-listed companies, but companies may have different periods for their financial years. For instance, PSG’s financial year-end was 29 February 2024, while Coronation’s was 30 September 2023.Despite not being the group CEOs of their respective companies, Khaya Gobodo, the MD of Old Mutual Investments and Carl Roothman, CEO of Sanlam Investment Management, received pay packages of R21 million and R16.
The pay for CEOs of listed companies that have an investment wing, where the executive in charge of investment’s pay is not available, can be found below:Government