Is there another Allan Gray out there?
Every South African with any interest in money knows the name Allan Gray. The company is currently the biggest local unit trust manager, with over R150bn invested in their six domestic funds alone.
But it is true of all big businesses that they were once much smaller businesses. Allan Gray registered his company as a sole proprietorship in 1973, and the firm he founded only launched its first retail unit trust – the Allan Gray Equity Fund – in 1998
These days there are of course dozens of smaller fund managers and it’s probably not as easy to make an impression as it was 15 years ago. But nevertheless, there are a few who stand out from the rest. And that begs the question: is there a fund manager out there that may one day challenge Allan Gray’s dominance?
Read more in this Money Web article: http://www.moneyweb.co.za/moneyweb-unit-trusts/small-asset-managers-with-big-futures