Tebogo Naledi, Managing Director of the Old Mutual Investment Group
In recognition of its steadfast and relentless commitment to diversity, equity and inclusion (DEI), Old Mutual Investment Group (OMIG) has been recognised as the top-ranking asset manager in the large asset manager category (above R100 billion assets under management) in the inaugural 27four DEInvest Annual Survey which was launched in Johannesburg recently.
The first of its kind in SA, the DEInvest Annual Survey 2024 recognised the top-performing firms in the 27four DEI Index across their respective AUM categories.
According to 27four the DEI Index framework offers a comprehensive approach to measuring DEI in South Africa’s asset management industry. It assesses asset managers across five key dimensions – ownership, representation, equity, impact, and governance -with the aim of driving transformation.
Aligned with global standards, the Index positions DEI as both a social and economic imperative. It not only provides a standardised framework for asset managers to evaluate their DEI performance but also serves as a tool for investors to screen asset managers based on DEI criteria.
Old Mutual Investment Group Managing Director Tebogo Naledi said the business is immensely proud of the recognition afforded by this award. “We are honoured to be recognised as the highest ranked asset manager when it comes to Diversity, Equity and Inclusion by 27Four’s comprehensive industry study. This recognition is especially meaningful as it demonstrates that a large asset manager in South Africa is capable of successfully effecting genuine transformation when the leadership and shareholders are truly committed to change, as we have been at Old Mutual Investment Group” he said.
The 14 asset managers in the over R100 billion AUM category manage in excess of R7 trillion combined, with the total number of asset managers that participated in the DEInvest Survey being 93, managing R8.4 trillion in total.
“As an organisation, we have a fierce commitment to driving diversity, equity and inclusion primarily through our ownership, our business and investments leadership and impact on the investments industry and broader society, by actively engaging companies that we invest in on behalf of our clients.
Old Mutual Investment Group, which reached majority black ownership in 2023, has made significant strides in the progress of its transformation strategy, implemented by an executive team comprising 88% black and/or female individuals. Old Mutual Investment Group is 65% black owned and is 32% black women owned. Led by Siboniso Nxumalo as Chief Investment Officer, 72% of its investment professionals are black and/or female.
Its training programme is also firmly focused on transformation progress, with 41 black investment analysts having been trained over the last 11 years.
“At Old Mutual Investment Group, we are proud to be a business that truly believes in and embodies diversity, equity and inclusion. The 27Four DEInvest Annual Survey was incredibly in-depth, exploring critical criteria that highlight the complexity of DEI. It’s not an overnight process; it requires intentional, sustained action across multiple dimensions.
“While we celebrate this recognition, we know that there’s still more work to be done. Transformation is a journey, and our commitment remains steadfast. Together, we hope to continue raising the bar for diversity, equity, and inclusion in asset management,” concludes Naledi.
ENDS
