Established 1996
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Peace of mind
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Open Collaboration
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Comprehensive Transparency
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Value Driven Adaptability
our foundations
Peace of mind
Our purpose is to provide peace of mind. We do this by creating and maintaining local and offshore investment portfolios that are wealth-enhancing and sustainable over the long term. It is our imperative to make financially sound investments in sound companies. We do this by being disciplined in our adherence to our belief in business value. This discipline and belief provides our clients with a margin of safety against risk because it is our intention to never overpay for an investment. We want our clients to be able live their lives without any worries about the management of their wealth and to do this we are dedicated to providing the best service possible.
Open collaboration
We take advantage of our team’s varied knowledge and experience and undertake independent research following our core principles to make sound investment decisions. We believe bringing together different individuals, skills and trusted service providers gives us the best foundation to provide our clients with reliable and decisive investment management. Collaboration enables us to open up new solutions and opportunities for our clients. We appreciate feedback and involvement from our clients as it aids us in knowing how best to serve them.
comprehensive transparency
We are committed to giving our clients full disclosure and making sure that they understand how their investments and our company work. We endeavour to be available and our doors are always open to you. Come meet us. Our investment processes and practices are open to you for examination and we appreciate the chance to show you how we work.
value driven adaptability
We know that different clients have different needs and expectations. This influences how we apply our approach to their investments. We respond to these differences by tailoring our investment approach so that we can ensure that our clients can more than beat the cost of capital. We believe that by providing our clients bespoke investment management we can help them achieve financial security and independence. We feel that there is always room for improvement and we are working continually to make sure our clients receive the best from us.
ABOUT US
Value Portfolio Managers (Pty) Ltd (FSP 635) was established in 1996 by Gaston Antelme, Sylvio Lefebvre, Osi Marucchi and Frank Payne as a niche professional practice specialising in wealth building solutions for private and institutional clients. We are independently owned and managed and have built a formidable reputation for our focused and disciplined approach to sustainable wealth accumulation and preservation over the long term. Our reputation is backed by our successful performance record.
Over the years the solutions and services the company has offered have grown and now Value Portfolio Managers is evolving into a niche South African international player. Our vision for the future is at the forefront of our minds and we are cultivating our new generation of talented professionals. We are committed to ensuring that our clients continue to receive improved service and tailored investment solutions and management.
invest 
purchase (
) whose usefulness will repay the cost.
SOLUTIONS
Different people have different needs to which we respond by applying our investment approach appropriately. Our core focus is on segregated portfolio management whereby we seek to build successful investment portfolios that are tailored to your needs making use of local as well as offshore opportunities. We also provide more structured solutions for that may be better suited to your investment, retirement, or life needs. Please explore below to see if we can help you find your solution.
let's find your solution
explore some of our solutions
OUR METHODOLOGY
the value approach to investment
At Value Portfolio Managers we believe that our approach to investment is distinctive. It is founded in the pursuit of value. We know the difference between a good investment at a discount, a share that is simply cheap, and a popular investment that is overpriced. We also have the conviction in our pursuit of value to act on the knowledge of this difference even in the face of uncertain or exuberant market sentiment. We favour consistent and sustainable return over opportunistic return and seek out companies and investments that will provide our clients with this return. The companies we invest in must show sustainable growth in earnings, high cash flows and dividends, proven management, and lower levels of operational and financial risk. Price is our most crucial element of control and we ensure that the investments of our clients are held at favourable valuations relative to economic, financial and operational realities.
We believe that a good investment is the purchase of something whose usefulness will more than repay the cost. Therefore, we want our clients to have investments that are able to beat the cost of capital and maximise their future value.
UNIQUE EXPERIENCES
the committed private investor
This investment portfolio is a prime example of how an investor's commitment to our investment approach has created an investment portfolio that provides a private investor with financial independence for himself and his family. This investor also made the courageous choice of cashing out his share of his pension fund at the outset and using the capital to build an investment portfolio that has performed at or above its 17.5% target return rate since 1999.
Making conscious decisions to use a strategy of hedging at appropriate time this portfolio has more than maintained its target return and has been able to successfully weather the volatile economic periods of 2003 and 2008. The graphic representations below will give you a glimpse at this portfolio's investment profile and performance under our management.
Tactical asset allocation
Value invested relative to cost of living
the consistent appreciation builder
This portfolio's purpose is to provide for large outlays that are needed in the future and that current revenue streams cannot cover so there is a very strong emphasis on preserving the capital paired with an equal emphasis on the need to grow the capital. This investor came under our management in 2000 with a cash portfolio in the midst of the IT bubble burst. To make sure that the capital was preserved at the outset of our management we decided to apply patience and only invested a small percentage in equities at first in our best value selections. Later in 2000 we took advantage of the downturn by investing up to half in equities at favourable valuations.
By the time the market bottomed in 2003 the portfolio was more fully invested and since inception none of the capital has been lost while capital appreciation has been maintained near the portfolio's target return and at a rate that more than beats inflation. The capital in this portfolio can be considered as only moderately volatile when compared to broad market indices.
Tactical asset allocation
Value invested relative to cost of living
the offshore investor
In recent times exchange controls in South Africa have relaxed and this has made offshore investment for individuals and pension funds a viable opportunity. Value Portfolio Managers recognised this opportunity for our clients and explored how direct investment offshore could best be made possible. We made a conscious decision to invest in our expertise and capabilities to be able to give our clients the best advice, access and transparency in their offshore investments. Direct investment into international shares offers our clients the opportunity to grow their portfolio with a specific focus to selected offshore investments opportunities.
Our research has supported the merit and availability of global share investment opportunities and this has prompted the opportunity for wider diversification. Consequently it made sense to also provide a platform for our clients to gain a broader exposure to foreign companies. We found this platform in building an investment portfolio grounded in a UCIT structure that could offer our clients a broader investment selection. The UCIT is a collective investment structure under EU legislation that gives the investor a higher level of protection, a highly regarded jurisdiction within a robust framework of accountability.
After 7 years of research and a concurrent 5 years of direct investment experience we launched the VPM Global Select Opportunities Fund in February 2012. VPM Global Select Opportunities Fund is registered and accountable in Luxembourg and Credit Suisse is the management company. Value Portfolio Managers is the investment manager and is responsible for the selection of share investments and the allocation of investment funds. The Fund has between 40 and 50 holdings listed on the New York, London, and other European stock exchanges and offers broad offshore exposure to companies with strong brands, good business models and good business themes. Primarily we choose the companies we want to invest in first then we wait for the right time and price to invest in them.
Unit Price
Performance versus inflation
Value Portfolio Managers (Pty) Ltd is an Authorised Financial Services Provider. FSP Number 635.
Team
At Value Portfolio Managers we make use of our team's varied and extensive experience to make sure that our clients receive the best from us. We have a professional staff of 12 with different skills and areas of expertise all cultivated towards providing our clients with reliable service and comprehensive portfolio and investment management. We have effective leadership in our directors and use their guidance and experience to build and train the next generation of valued team members.