STEPHEN CRANSTON: Black fund managers have a big voice

The black-owned fund-management sector may employ just 668 people, but it is a powerful lobby group. No other tiny grouping, which would not even take up a floor of one of the bank head offices, would merit the glossy annual survey BEEconomics, produced by Fatima Vawda at 27four.

It is a fragmented group as 50 firms manage R579bn of client assets, or 7% of SA savings and investments. A third of these businesses are unprofitable, primarily because their assets are subscale.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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