Staying relevant

7/23/2010 12:40:02 PM

Anet Ahern, the head of research for Sanlam Global Best Ideas — a R3,2bn business — has 24 years experience in investments and management.

Qualifications?

BBusSc, CFA, PGDFP.

Post the financial crisis, how have the rules of engagement changed between investors/clients and fund managers?

The early part of this decade was characterised by a bull market, lots of risk appetite and liquidity. The latter half included crises, increased regulation, much more volatility and corporate casualties. In general, margins are now lower and the mix between fixed and variable costs has changed. There should be some consolidation of managers and a tightening in the risk reward relationship. It’s still a tough business to be in, but the basics remain the same.

What are the challenges and opportunities for women fund managers?

A big challenge is the fact that we still get asked that question. The challenges remain being resilient, incisive and consistent in our approach, especially when things do not go according to plan in the short term and it is tempting to buckle under the pressure. This goes for both genders.

What needs to happen to encourage more women to enter fund management?

This job is definitely not everyone’s cup of tea. They must want it. There is nothing insurmountable stopping a woman who is competent and who really wants to be a fund manager from becoming one. Remember, not many guys get into the industry either.

What role can women fund managers play to effect change?

We can be a sounding board and mentors for women in the fund management business and treat them fairly — that means no favouritism, and no biases.

Why is the fund management world exciting for you?

It is an ongoing learning process; you work with and meet interesting, intelligent people who share your enthusiasm for achieving against the odds. It is a constant challenge and you can never be bored.

Do you think women make better fund managers than men?

In some cases women are better at being team players, but even that is a generalisation. I don’t believe there are any valid gender distinctions that play a role in being a successful fund manager.

What qualities do you require to succeed in the fund management space?

Self awareness — to help you to manage biases and know how to utilise other team members’ strengths; resilience is important in helping you stick to your process and view when times are tough; incisiveness makes you more efficient in processing the large amount of information; and of course you need to be intelligent, but you don’t need to be a rocket scientist. You must love investments.

What does your typical day involve?

Keeping up to date with investments and the relevant information you need to absorb to make decisions, monitoring the portfolio, deciding on research priorities, reading, interacting with the team in meetings or informally. When I travel, my days consist of meeting with management of companies, attending global conferences or seeing clients.

How do you balance your work with family responsibilities?

The tasks vary from day to day, but are all centred on enabling me to make better decisions in the portfolio. I’m able to do reading and other work from home, so if family life takes time out of the workday, it is possible to catch up. I travel a fair amount, which often means long hours, so I try to focus on the results rather than clock-watching.

Because I trade across time zones, I’m frequently up early or staying up late. It helps having the right support at home. An understanding husband and a fabulous au pair (or the other way around) is essential.