MUMI Investment Managers join GIPF’s incubator asset managers
The Government Institutions Pension Fund (GIPF) this week introduced MUMI Investment Managers (Pty) Limited as one of its six incubator asset managers, managing about N$880 million of GIPF’s assets as at March 2021.
MUMI Investment Managers officially commenced with its operations in 2019 and possesses combined experience of over 20 years in portfolio research and investment management.
Managing Director of the wholly-owned Namibian company, Mike Mukete, said despite entering the asset management market in a time financial markets were experiencing unprecedented volatility characterised by the impact of COVID-19, they have made significant strides.
“We are pleased to have generated positive returns of 55.1% and 26.4%, which are relatively 3.1% and 1.5% above the benchmark over the period of 1 year and since inception, respectively,” Mukete said.
He added that he is equally confident about the performance direction the company’s portfolio has taken since the market crush experienced during March 2020 and their 3-5 years investment objectives.
MUMI has a staff complement of seven, all practically and academically skilled in investments, finance, economics, accounting, and portfolio management. In addition, the company has recently launched a graduate programme aimed at developing investment management skills and already three graduates have been through the programme.
GIPF implemented the Asset Management Incubation programme to provide an opportunity for previously disadvantaged individuals to participate in the mainstream asset management industry, and in doing so create Namibian based skills in the field of Investment and Asset Management.
“We have the capability to manage equity, fixed income, and money market portfolios, while our firm is ready to work on any other segregated mandates that can be tailored to clients’ specific needs. I really believe that the programme will have a significant impact on the local asset management space, because GIPF has diversified its asset managers to incorporate domestic groomed managers,” Mukete said.
He added, however, for the programme to be successful, they need the support of other institutional investors to join hands with GIPF by also voluntarily setting aside a fixed percentage of their assets to the incubated managers.