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Momentum Investments has a new CIO

Momentum Investment has appointed Mike Adsetts as the new CIO after his seven-month interim tenure in the role.

Adsetts’s appointment became effective on 1 July, following a six-year stint as the investment manager’s deputy CIO.

His investment industry experience spans two decades, with more than 15 years spent within Momentum Investments.

Read: Jeanette Marais named new Momentum Metropolitan CEO

Adsetts firmly believes in Momentum’s investment philosophy and outcome-based investing, an approach gaining popularity in markets such as the UK, US and Germany.

“We have followed this approach with our institutional clients, such as retirement funds, since 2011. We also see individuals benefitting greatly from the skills and expertise we gained with this approach,” Adsetts said.

“We are confident that Mike will add tremendous value as the CIO in setting the investment strategy for our business and also as a member of our investment management executive team,” the company said in a statement.

The investment manager made additional key appointments to its team, drawing new hires from its close rivals, Old Mutual Investment Group and STANLIB.

Frank Sibiya was previously a portfolio manager at Old Mutual Investment Group and joined the company on 3 July. Sibiya will work within Corporate Portfolio Solutions.

Nothando Marasha, who joins from STANLIB, has been appointed as an analyst in a move that bolsters the money manager’s retail portfolio solutions team.

Marasha has four years experience in the investment industry and will work with colleagues to ensure that the company optimises its Africa portfolios.

“Transformation remains a strategic imperative for our business, and Mike and the rest of the executive team will ensure that we develop clear strategies to increase our representation of Employment Equity candidates within our middle and senior management levels while relying on youth development initiatives to support junior talent within our business,” the company said.

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