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At Arysteq, our vision has always been to develop local capacity. We did this by taking a hands on approach to training and development. This training and development programme was structured in five key areas being, on the job training, support for the CFA programme, mentorship, our morning meeting interventions and third party training for presentations skills and soft skills training.
From very humble beginnings we started with 3 employees and now have 16 staff in our employ with two vacancies. Through the capacity building process we have incubated all areas of our investment management business since our operational inception in 2018.
As such we can now claim the position of having one of the largest investment teams in Namibia with eight staff members, which includes 3 portfolio managers, an assistant portfolio manager and four research analysts. We also have one of the largest fund administration teams, an inhouse risk and compliance team and a business development and marketing department. While the focus in the industry is generally to training analysts and portfolio managers, our approach took it a few steps further by looking wider and incubating more roles within the firm.
The next phase in our training and development programme is to develop portfolio managers and at our strategy planning meetings in April we unveiled a training programme for the current research analysts to be groomed as future portfolio managers.
At this stage the only function at Arysteq that is outsourced is our information technology operations.
We have GIPF to thank for this opportunity, by selecting Arysteq Asset Management as the first investment manager under their incubation programme. GIPF is in the process of reviewing the incubation programme and will be commencing with assessing whether we are ready to graduate. In our view we have ticked all the boxes for graduation and already operate as if we have graduated. We implore investors and asset owners to assess us as a potential service provider as a fully fledged investment management company.
On the 16th of April 2024 the draft proposed standards for Outsourcing under the Financial Institutions and Markets Act, 2021 were circulated for comment. Having reviewed these proposed Standards, we deem it necessary to point out that the following business functions are not outsourced:
We are pleased that the commitment to enhance and grow home local talent in all spheres of asset and unit trust scheme management, are now placing us ahead of the pack in terms of these potential changes.
