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2012

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My Portfolio

Our Story

  • History

  • Firm Philosophy

  • Investment Philosophy

  • Team

History

 

36ONE Asset Management was formed by Cy Jacobs and Steven Liptz in 2004. After completing their accounting articles in the mid-nineties, they joined Simpson McKie, which was later sold to HSBC. In 1999 the Johannesburg retail operation of HSBC was sold to Investec, where Cy and Steven remained for another five and a half years. By late 2004, with the benefit of years of experience, they resolved to launch their own venture and do things their way.

Cy and Steven subsequently founded 36ONE Asset Management where, over time, they hand-picked a deliberately small team of exceptional, committed and talented individuals. This recruitment policy ensured that 36ONE could adopt a leaner, more efficient and more customised approach than the typical investment management firm.

Following the firm’s initial success with private client portfolios, 36ONE launched two unit trusts in September 2005 and its first hedge fund in April 2006. Today the firm manages several billion rand across its unit trusts, hedge funds and institutional segregated mandates.

With single-minded focus, the team continues to deliver award-winning performance and exceptional service. Despite rapid growth, 36ONE remains small enough to maintain its flexible and agile investment approach.

Firm Philosophy

 

With years of consistently exceptional performance behind them, 36ONE maintains a position carved out by a commitment to excellence, endurance, agility and hard work. It is this approach that lies behind the name 36ONE.

Because 360 degrees is the full circle, for many it is the limit of what is possible. However, 36ONE is a company with a vision that breaches boundaries. For us, good is not good enough; only the extraordinary is acceptable. We believe that the extra degree, the degree of difference, is the principle of performance. It is flawless service and efficiency. It is the unique structure that inspires agility and allows a truly customised offering. In that one degree is the drive to be exceptional.

In less than a decade, 36ONE has become a leading South African asset management outfit - a testament to the power of being exceptional.

Investment Philosophy

 

Our investment approach is centred on the principle that the market does not efficiently price securities at all times. We therefore believe that stock selection through bottom-up fundamental analysis can out-perform over time.

We apply fundamental analysis – through proprietary modelling techniques and meetings with company management – to identify securities that we believe are priced incorrectly. This bottom-up approach is supplemented by a top-down, macroeconomic overlay which is used to manage exposure to industries and asset classes. Our primary focus is on value investment within the South African equity market, but attractive growth shares and opportunities in other asset classes may also be explored. The 36ONE hedge funds and unit trusts invest in all sectors and across the range of small, medium and large cap shares. Risk management is a core component of our investment philosophy and is embedded in all stages of the portfolio management process.

We maintain an absolute focus on the management of our clients’ portfolios and therefore will remain a small team of investment professionals, while outsourcing peripheral functions. Our remuneration structure ensures that our interests are closely aligned with those of our clients.

Directors

Cy Jacobs
B.Com (Wits)
B.Acc (Wits)
CA(SA)

Steven Liptz
B.Com (Wits)

Cy is a co-founder of 36ONE Asset Management and heads the investment team. Before 36ONE, he was a senior portfolio manager at Investec Securities, where he was head of the Opportunities Mandate. Prior to that, Cy was a Director at HSBC, where he jointly managed the Nedbank Entrepreneur Fund. Cy completed his accounting articles at Kessel Feinstein (later acquired by Grant Thornton).

Steven is a co-founder of 36ONE Asset Management and is responsible for all non-investment related areas of the business. Before 36ONE, he was a portfolio manager at Investec Securities where he also served as Chief Operating Officer. Prior to that, Steven was a Director and portfolio manager at HSBC. Steven completed his accounting articles at Kessel Feinstein (later acquired by Grant Thornton).

Investment

Evan Walker
B.Compt (Hons) (UNISA)
MBA (Wits)

Ryan Seaborne
B.Comm (Hons) (UPE)
CA(SA)
CFA

Evan joined 36ONE in August 2012 as a member of the investment team and co-manager of the 36ONE MET Equity Fund. He was previously fund manager of the multi-award winning Momentum Small/Mid Cap Fund. Prior to this, he was head of industrial research and a ranked retail analyst with Credit Suisse Standard Securities for seven years.

Ryan joined 36ONE in 2005. Before this, he completed the TOPP (Training Outside Public Practice) graduate training program at Investec, spending the last year of the program at Investec Securities where he worked with members of the current 36ONE team.

Laurie Slatter
B.Com (Wits)

Daniel Isaacs
B.Com (Hons) (Wits)
Masters in Finance (Wits)
CFA
CAIA

Laurie joined 36ONE in 2005, prior to which he was a portfolio manager at Investec Securities and at HSBC, working with members of the current 36ONE team in both roles.

Daniel joined 36ONE in 2007 from Accenture, where he was a strategy consultant focusing on the South African resources sector.

Jean Pierre Verster
B.Com (Tuks)
Hons B.Compt (UNISA)
CA(SA)
CFA
CAIA

Jean Pierre joined 36ONE in 2010 from Melville Douglas, where he was a portfolio manager. He completed the TOPP (Training Outside Public Practice) graduate training program at Standard Bank, spending the final year of the program as an equity analyst at Mellville Douglas.

Operations

Nico Smuts
M.Comm (Stellenbosch)
Masters in Finance (Cambridge)
Fellow of the Institute of Actuaries

Tanya de Abreu
B.Com (UNISA)

Nico joined 36ONE in 2012 from Capital Generation Partners in London, where he was an associate portfolio manager. Prior to this he worked at Newton Investment Management in London and Towers Watson in Cape Town. Nico won the Director’s Award for academic distinction at the University of Cambridge.

Tanya joined 36ONE in 2005, prior to which she worked at Investec Securities and Appleton Securities. Tanya has over 10 years of experience in investment administration and has worked with several members of the 36ONE team in her previous roles.

Melody David

Tracy Wray
B.Com (UNISA)

Melody joined 36ONE in 2012 from Investec, where she spent 13 years in a variety of senior administration positions. Prior to this she was at HSBC, working with members of the current 36ONE team.

Tracy joined 36ONE in 2012, prior to which she did back office administration at BoE Stockbrokers (now Nedbank Private Wealth). Before that, she was the Back Office Manager at Coronation Capital (now CoroCapital). Tracy started her career at GuardBank ManCo and Liberty Asset Management (both now Stanlib).

Hedge Funds

Disclaimer


Investors should take cognisance of the fact that there are risks involved in buying or selling any financial product, and past performance of a financial product is not necessarily indicative of its future performance. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions.

Hedge funds are presently not regulated by the Financial Services Board, and do not comply with the provisions of the Collective Investment Schemes Control Act 45 of 2002. Therefore hedge funds are private investments, suitable only for sophisticated investors, and are not open to the general public.

The information and documentation presented on this site do not constitute a solicitation, invitation or investment recommendation, and prior to selecting a financial product or fund it is recommended that investors seek specialised financial, legal and tax advice. The laws of the Republic of South Africa shall govern any claim relating to or arising from the contents of this site.

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Overview


The 36ONE Hedge Fund was launched in April 2006. It is a long/short equity hedge fund and its investment objectives are to:
    • enhance investors' capital in real terms through generating above average returns
    • generate absolute returns regardless of market direction
    • generate returns using fundamental analysis to identify over and under priced securities, and reduce market timing risk by managing market volatility
We have subsequently launched two additional hedge funds following similar strategies: the 36ONE Fund and the US Dollar-denominated 36ONE Offshore Portfolio.

Events & Sponsorships

  • Team 36ONE-SONGO-SPECIALIZED

  • The 36ONE MTB Challenge

  • JP Morgan Corporate Challenge

Team 36ONE-SONGO-SPECIALIZED


Team 36ONE Wins 2012 Cape Epic 36ONE Asset Management sponsors Team 36ONE-SONGO-SPECIALIZED, a professional mountain biking team. Team 36ONE-SONGO-SPECIALIZED (in 2013 riding as Burry Stander-SONGO in memory of the late Burry Stander) has won the Absa Cape Epic for three years in a row.

The Absa Cape Epic is the largest full-service mountain bike stage race in the world. The race is held over 8 days and includes a time-trial prologue. The route changes every year, and leads aspiring amateur and professional mountain bikers from around the world through approximately 800 kilometres of the unspoilt nature of the Western Cape and up approximately 15,000 metres of climbing over some of the most magnificent passes in South Africa.

      The Absa Cape Epic - Introduction for new riders

Songo.info


Songo Cape Epic Team At 36ONE we aim to contribute to the country in which we invest. Through the sponsorship of Team 36ONE-SONGO-SPECIALIZED, 36ONE supports Songo.info, a sports development programme which provides the children of Kayamandi with the opportunity to ride bicycles. The aim of the initiative is to positively impact children via sport education.

      Songo.info - Thank you to 36ONE Asset Management
      Songo.info - My future is free

36ONE MTB Challenge 2013 Banner



The 36ONE MTB Challenge


The 36ONE MTB Challenge - a 361 km race with a 36.1-hour time limit - offers everyone who enjoys cycling, a chance to participate in the longest single stage race around. The race is held annually in the Karoo town of Oudtshoorn in the Western Cape and the next 36ONE MTB Challenge will take place from 19 to 21 April 2013.

There are various categories in which riders can enter: they can tackle the event solo or in teams of two, three or four. Because the full distance, which includes a total vertical ascent of more than 4,293 metres, is too far for most, there’s a relay option which breaks the 361km race into four legs. Teams of two or four may enter the relay, which requires that riders must complete legs 1 and 3 or legs 2 and 4. There’s also provision for a tandem and a singlespeed category in the relay section.

A total of 89% of the entrants completed the event in 2012, which shows that while it offers a significant endurance challenge, it’s not out of reach for the majority of committed mountain bikers and even weekend warriors. By participating, riders also raise awareness and funds to support the development of the local community.

Click here to register for the 36ONE MTB Challenge.

Official chip timing partner of the JPMorgan Corporate Challenge


JPMorgan Corporate Challenge Johannesburg 36ONE Asset Management is the official chip timing partner of the annual JPMorgan Corporate Challenge in Johannesburg.

The JPMorgan Corporate Challenge is a charity race that has been run annually since 1977 and currently takes place in 13 cities around the world. The first Johannesburg event took place in 2004 and has grown to attract a crowd of over 13,000 participants from 207 companies in 2013. The JPMorgan Chase Foundation, in support of the Corporate Challenge, will make a donation to The Make A Difference Foundation (MAD), a not-for-profit foundation focused on academically talented South African learners from less fortunate backgrounds. The JPMorgan Corporate Challenge raised over $600,000 for MAD in 2012.

Click here to register for the JPMorgan Corporate Challenge in Johannesburg.

Unit Trusts

  • Overview

  • 36ONE MET Flexible Opportunity Fund

  • 36ONE MET Equity Fund

  • How to Invest

The 36ONE Range of Unit Trusts


36ONE Asset Management manages two unit trusts: the 36ONE MET Flexible Opportunity Fund and the 36ONE MET Equity Fund. More information on these funds can be found by using the navigation tabs on this page.

Through our unit trusts, retail investors can invest for the long-term in transparent and regulated funds: daily fund prices appear in the newspaper; the funds are audited annually; and the FSB, ACI and CISCA regulate the funds. Clients enjoy flexibility regarding their investments: they can withdraw with 24 hours’ notice, make ad hoc lump sum payments and utilise debit orders with low minimum values. Our unit trust reporting includes valuation statements, distribution statements and tax certificates (IT3b, IT3c).

Introduction to Unit Trusts


A unit trust is a form of collective investment constituted under a trust deed. Unit trusts are open-ended, which means the fund is equitably divided into units which vary in price in direct proportion to the value of the net assets held by the fund. When money is invested, new units are created and when units are redeemed, the relevant value of assets is sold and the redeemed units are cancelled. In this way the units remain a direct reflection of the underlying assets.

Unit Trusts in South Africa


Unit trusts in South Africa are regulated by the Collective Investment Schemes Control Act 45 of 2002 (CISCA), which aims to protect the financial interest of unit holders by placing certain obligations on managers and administrators of unit trusts. The conditions set out in CISCA are enforced by the Financial Services Board (FSB) and the Registrar of Collective Investment Schemes, which acts as the regulator of the South African unit trust industry.

The Advantages of Investing in Unit Trusts


There are a number of advantages to investing in unit trusts. These include:

      • Regulation: The Financial Services Board (FSB) regulates the unit trust industry
      • Affordability: Unit trusts typically have low minimum investment amounts
      • Liquidity: Cash is typically received within 2 days after redemption
      • Transparency: Pricing and performance can be tracked on a daily basis
      • Convenience: Investments can be made in the form of lump sums or debit orders
      • Diversification: Unit trusts typically invest in a basket of securities, thereby offering investors an easy means of diversifying their portfolios.

36ONE MET Flexible Opportunity Fund


The 36ONE MET Flexible Opportunity Fund is a domestic flexible asset allocation unit trust that can vary its exposure to the equity market over time. The fund invests predominantly in South African equities but can also hold other financial instruments including bonds and cash.

The primary objective is to provide investors with significant medium to long term capital growth. The fund invests in local listed companies and primarily follows a bottom-up stock picking approach. Strong companies undervalued by the market are preferred for the core holdings. The fund has a diverse spread across large and mid-cap companies with less significant weightings in the small cap sector. The fund has limited offshore exposure. The sector focus shifts as sector mixes are optimised after considering macro-economic fundamentals.

36ONE MET Equity Fund


The 36ONE MET Equity Fund is a domestic general equity unit trust that holds at least 80% of its net asset value in equities at all times. The fund can hold a maximum of 20% of its net assets in cash and does not invest in bonds.

The primary objective is to generate sustainable capital growth for investors. The fund invests predominantly in local listed companies and primarily follows a bottom-up stock picking approach. Fund holdings are determined to optimise long-term sustainable returns.

How to Invest in the 36ONE Unit Trusts


36ONE's unit trusts are administered by MET Collective Investments. Investors can access the funds directly by completing the following application form and submitting it to the contact address provided.

Documents for existing clients


Clients that have invested directly via MET Collective Investments can view their portfolios online. If you are an existing client and would like to register for online access, you can do so by following the steps outlined in the following guide:

If you are an existing client and would like to make an additional contribution or repurchase units, please do so using the forms below:

Contact Us

Please complete the form below and we will contact you.

36ONE Asset Management is a registered Financial Services Provider.