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 outperform 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 and/or geographies 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.
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 then 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 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.
B.Com (Wits) , B.Acc (Wits) , CA(SA)
Cy is a co-founder of 36ONE Asset Management and heads the investment team. Before 36ONE, he was a 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).
- B.Compt (Hons) (UNISA), MBA (Wits)
Evan joined 36ONE in August 2012 as a member of the investment team and co-manager of the 36ONE BCI 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.
- B.Comm (Hons) (UPE), CA(SA), CFA
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.
- B.Com (Hons) (Wits), Masters in Finance (Wits), CFA, CAIA
Daniel joined 36ONE in 2007 from Accenture, where he was a strategy consultant focusing on the South African resources sector.
- Masters Degree, CFA
Shmuel joined 36ONE in November 2014. Originally from the United States, he moved to South Africa in 2008 and has been involved in the investment field in various roles. He has a Masters degree and has completed all three levels of the CFA Program.
- Bachelor of Accounting Science (Hons), CFA
Steven joined 36ONE in 2016. He completed his articles at Ernst & Young, where he focused on the financial services sector. He graduated with honours from Wits University and was awarded the Chancellor’s Gold Medal and Vice-Chancellor’s Scholarship. He placed fifth nationally in the SAICA board exam and has completed all three levels of the CFA Program.
- Doctorate in Finance, Chartered Accountant (SA)
Wessel joined 36ONE in June 2016. Prior to this he worked as a senior lecturer in the Department of Accounting at the University of Pretoria. Wessel holds a Master’s degree in Accounting and a PhD in Financial Management, both from the University of Pretoria. He obtained his CTA cum laude, and placed joint fifth in the SAICA board exam. He completed his articles at PwC.
- Masters in Finance (London Business School), CA (SA), CFA, CAIA
Cobus Cilliers joined 36ONE in July 2016. He joined the team directly after graduating from London Business School, where he completed his Masters in Finance. Prior to this, he worked at Melville Douglas Investment Management as an equity analyst and portfolio manager. Before joining Melville Douglas in 2012, Cobus completed his CA (SA) training programme at Standard Bank.
- B.COMM (HONS) (UPE), CA (SA), CFA
Louis joined 36ONE in September 2017 from G3 Fund Management which he co-founded in 2011. Prior to G3, Louis spent 6 years at AMB Capital, helping set up and run their hedge fund offering.
Kevin de Villiers
- B.COM (HONS)
Kevin de Villiers joined 36ONE in October 2016 from Bank of America Merrill Lynch where he was Head of Equity Trading in South Africa. Before that, Kevin was a Director at Citibank for 3 years. He spent 10 years at Investec Asset Management on the trading desk in Cape Town, where he ran a South African commodity hedge fund.
- MBA (University of Oxford), M.Com, BACHELOR OF ACCOUNTING SCIENCE (HONS), CA (SA)
Tumi joined 36ONE in November 2017. Prior to this she worked as an audit and financial engineering group manager at KPMG within the financial services division. She obtained her BAccSci degree and MBA cum laude and was awarded the Thuthuka and Chevening scholarships.
- B.Sc Hons (Wits)
Grant joined 36ONE in 2014 from Citibank where he was the Markets Operations Head. He was previously Prime Client Services and Equity Synthetic Operations Head at Deutsche Bank. He has more than 10 years' experience in Operations in Corporate and Investment Banking and Stockbroking.
Tanya de Abreu
- B.Com (UNISA)
Tanya joined 36ONE in 2005, prior to which she worked at Investec Securities and Appleton Securities. Tanya has over 15 years of experience in investment administration and has worked with several members of the 36ONE team in her previous roles.
- B.Sc Engineering (Electrical), B.Eng.Sc (Biomedical)
Jonathan joined 36ONE in June 2016 from First National Bank where he worked as a business analyst. Jonathan graduated from the University of the Witwatersrand with Bachelor of Science degrees in both Biomedical Engineering and Electrical Engineering. He was awarded the Adolph Goldsmith Memorial Fund Prize and was on the Dean's list 2013.
- B.Com (Tuks)
Wendy joined 36ONE in 2015 from ProfileMedia where she was in charge of the unit trust research department. Wendy has 10 years of experience in the financial industry and is currently studying towards a Bachelor of Science degree in Applied Mathematics and Statistics.
Christine joined 36ONE in 2015 from Resolute Wealth Management where she was the Office Administrator and PA to the directors.