Independent Securities is focused purely on delivering superior investment performance for clients at a reasonable cost. Our disciplined and systematic investment process has resulted in our long-term performance track record of outperforming relevant benchmarks and peer groups. Our investment strategy is to simply invest in great companies that can be purchased at an attractive price and hold these companies for the long-term.
Independent Securities is a JSE member that specialises in full discretionary portfolio and asset management across various mandates. Our business is well-established and has been a JSE member since 1998. The company is privately owned by management and the founders continue to be integrally involved in the business on a day to day basis. Our portfolio managers have significant investment experience and are supported by stable and highly competent administrative team. We have a robust and flexible investment administration platform catering to all our clients’ needs.
We have in excess of R22bn of funds under administration and management. This is spread over 2,300 clients. The company operates from three offices: Illovo (head office), Stellenbosch and Pretoria. We employ 31 people, 17 of whom are portfolio managers. In addition to our JSE license, we also have FSB category 2, 2A licenses. Only fifteen of approximately 60 JSE members have CSP license which signifies the high levels of internal control and segregation of duties embedded into our internal processes
Invest in a managed long-term share portfolio that owns high quality JSE listed companies with a highly compelling investment case.
Invest in a managed long-term share portfolio that owns high quality Globally listed companies with a highly compelling investment case.
We can manage your retirement annuity, living annuity, preservation provident / pension fund or portfolio and invest directly in JSE and Globally listed companies.
We are a focused investment manager and do not offer ancillary services so we can concentrate on allocating your investment capital in the most optimal manner.
Our clients have a personal and one on one relationship with our portfolio managers and can speak to the person making the actual investment decisions at any time.
We have a long-term track record of outperforming our benchmark and peer group.
Our investment team has been incredibly stable for an extensive period and they have a collective experience span of 415 years, or 23 years per member.
We started over 20 years ago and have developed a disciplined investment process and a highly efficient administrative platform.
Fees count in the long-term so we ensure our fees are competitive and we don’t charge performance or upfront fees.
Invest in businesses that have exceptional and sustainable business models.
Only commit capital to businesses where we believe the purchase price is attractive and probable of delivering acceptable long-term investment performance.
Aim to buy and hold companies indefinitely as this is the surest way to generate superior investment performance.
We simply don’t believe in market timing because of the opportunity cost, higher fees and tax implications.
Our concentrated portfolios hold between 15-25 shares so our high conviction ideas have a meaningful impact on investment performance.
We use a fundamental bottom-up approach that assesses both quantitative and qualitative aspects to select businesses for portfolios.
We recently articulated our thoughts on investing in China (On China - May 2021) and considering the continuing developments we believe it is a good time to re-examine our thinking on China again.
In this research note we turn our focus towards China where we have material exposure, which has negatively contributed towards investment performance over the last few months. The act of putting pen to paper allows us to contemplate, formularise, articulate, and then re-examine our macro investment narrative around China.
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