Our values

Since 1973 we have adhered to the same set of values. These have provided us with a consistent framework to help us to make the best decisions for our investors in a changing environment and over time.

Client focused

We always put our clients’ interests first and avoid (not manage) conflicts of interest. We try to build our clients’ trust and confidence in us through offering excellent client service. We design our products and fees so that they tie our success to that of our clients.

Performance driven

We set extremely demanding and challenging standards, aiming to be the best in each area of our activities. Our business model and the way that we reward and promote our staff are designed to encourage excellence. Our performance-based investment management fees make our income more sensitive to long-term investment performance than the size of assets under management. Our senior executives are shareholders in the business, aligning their long-term interests with yours. All other staff have a substantial portion of their remuneration in the form of performance-based bonuses. 

Long-term oriented

We take a long-term perspective on investment decisions and business strategy. We try to establish long-term relationships with clients who believe in us and share our conviction in our investment approach. We offer an uncluttered range of products and services where we believe the application of our skills can add value and be enduring.

Independent minded

We are often contrarian and have the courage to fly in the face of popular opinion or conventional wisdom. We value, seek and foster diversity of opinion and thought.

Individually accountable

We have great faith in the power of the individual to make a difference. We believe that the best decisions are made by individuals not committees and we accept responsibility for the consequences of our actions.

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Phatsimo Ncube Managing director

After having spent six years at Allan Gray in South Africa, Phatsimo joined Allan Gray Botswana in 2014 as business development manager where her key focus was servicing and growing the institutional client base. Phatsimo was subsequently appointed managing director in May 2017. From 2008 to 2014, she held various positions in the Life, Retirement and Offshore departments at Allan Gray in South Africa. Phatsimo joined Allan Gray after completing her Business Science Finance Honours at the University of Cape Town.

Tapologo Motshubi Portfolio manager

Tapologo joined Allan Gray in 2004 and is currently the portfolio manager of Allan Gray Botswana. In 2007, he was appointed managing director of Allan Gray Botswana, and in 2011, managing director of Allan Gray in Namibia, a position he held until 2014. He was appointed head of Africa ex-SA in 2018. Tapologo is a graduate of the universities of Cape Town and KwaZulu-Natal, a qualified Chartered Accountant, a CFA® charterholder and a Fellow Certified Public Accountant.

Kebuileng Mzwinila Business development manager

Kebuileng joins the Institutional Client Services team with a focus on client servicing and business development. Prior to joining Allan Gray Botswana, he held various positions at Alexander Forbes as a business development manager and employee benefits consultant. He also worked at the Debswana Diamond Company for two years prior to joining Alexander Forbes. Kebuileng holds a Bachelor of Social Sciences degree in Economics, a Postgraduate Diploma in Management and a Master of Business Administration from the University of Cape Town.

Our approach to investing is simple

We look closely at businesses. We buy shares we think are undervalued and sell them when we think they have reached their worth, regardless of popular opinion.
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We are based in Africa and have global expertise

Our headquarters are in Cape Town, with additional offices in Windhoek, Namibia and Gaborone, Botswana (offices indicated in red). We also have an affiliate office in Australia. We are partners with Orbis (offices indicated in blue), with whom we share a founder, investment philosophy and values. Orbis provides us with access to foreign markets, backed by expert research and a long-term track record.
Allan Gray offices
Scroll down to see our long-term track record

We pursue long-term returns without taking undue risks

What R 10,000 invested in 1974 would be worth today (30 June 2022):

Invested with Allan Gray (before fees) FTSE/JSE All Share Index (log scale) R 160 000 000 R 160 000 000 10 YEARS 1974 Today
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Making a difference

With a deep concern for poverty and unemployment in Botswana, we strive to make a positive contribution to citizen economic empowerment through various structures and initiatives. We invest responsibly, with the priority to protect and enhance the value of our clients’ investments. Learn more...

The financial services, products or investments referred to on this website are not available to persons resident in jurisdictions where their availability or distribution would contravene local laws or regulations and the information on this website is not intended for use by these persons. This website is for information only and does not in any way constitute a solicitation or offer by Allan Gray Proprietary Limited or any of its associates or subsidiaries (collectively “Allan Gray”) to buy or sell any financial instruments or to provide any investment advice or service.

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