The growth of an asset manager
Anet Ahern has been at the helm of PSG Asset Management for four years. She talks about taking this asset manager to the next level.
when speaking to Anet Ahern, it quickly becomes clear why she has had such a successful and impressive career in asset management. Sharp, to the point, and with 30-plus years of experience in the industry, the current CEO of PSG Asset Management has pretty much done it all.
After starting as an admin assistant in Allan Gray’s trading office in 1986, she moved on to become a portfolio manager at Syfrets before joining BoE Asset Management. In 2005, Sanlam Multi Manager International approached her, and she spent six years there as CEO. This was the first time she managed a global business, one with R100bn in assets under management.
“I am very fortunate. I learnt a lot,” says Ahern when asked how her journey unfolded. In 2012, after taking a yearlong break, Ahern researched the viability of starting her own company. She soon realised that it would be very hard to get critical mass without distribution.
“It’s relatively easy to get to your first R5bn in assets, but then you are stuck.” Further, she didn’t see a shift in the extreme concentration of the top five fund managers happening quickly, but felt strongly that it was on the cards. “I thought if you wanted to be anything in this industry, you wanted to be a next-tier incumbent. You wanted to be someone that CEO of PSG Asset Management