Our History
Umthombo Wealth was founded in 2013 by three entrepreneurial investment professionals who saw an opportunity to unlock value for both stakeholders and the South African market. Founder, Bafedile Mafologele remains an integral part of the company’s operations as CEO. In 2015 the company commenced managing traditional assets and launched the Umthombo Conservative Fund in January of 2016. Since this milestone, our product offering has expanded to offer a wide range of fixed income and equity portfolios across the risk spectrum to suit even the most decerning investor. Our product offering includes equities, listed bonds and a flexible income fund.
Our organisational structures and culture are both premised on good governance, high ethical standards, clear segregation of duties and accountability. Our sound business principles are fundamental to our long-term sustainability and success. Umthombo holds a Category 2 FSCA license and are an authorized FSP.
Our Vision & Values
The mission of Umthombo Wealth is to be a leading asset management company on the African continent, creating wealth for our clients, colleagues and the community.
Our Team
Executive Team
Our people are our greatest asset. Umthombo Wealth is 100% staff-owned so our people are inspired to deliver only the best value to our clients. It is only with the determination and dedication of our people that we can serve our clients and generate long-term value for all stakeholders. We believe in fully embracing the cultural diversity of South Africa and promoting inclusivity in ethos and thought. We focus on cultivating a vibrant work environment where individual potential is maximised and the company’s culture of teamwork, performance, excellence, innovation, accountability and client service is reinforced.
Bafedile Mafologele CA(SA)
Bafedile joined Ernst & Young as an articled clerk and qualified as a Chartered Accountant. He joined Chartis Insurance (previously AIG SA), a subsidiary of the US listed AIG Inc, as chief accounting officer responsible for financial reporting and liaison with regulators, including the Financial Services Board (FSB) and the South African Reserve Bank.
He joined Mvunonala Holdings in 2010 as Group Chief Operating Officer responsible for the operations of the Mvunonala Group. Bafedile was the managing executive of Mvunonala Asset Managers which was established in 2011 under the group’s umbrella. He departed in April 2014 by which time he had assisted in growing assets to R2.5 billion. He was part of the team that assisted Bophelo Benefit Services, a subsidiary of Mvunonala, which won the coveted Imbasa Yegolide Principal Officers Association Award for best trust and beneficiary administrator of the year in 2013.
In 2014 Bafedile joined Novare Actuaries and Consultants as director and head of fund consulting. Novare Actuaries and Consultants advise on assets over R220 billion. Bafedile also served as the Managing Director of Novare Investments. A boutique investment management firm focusing on managing offshore assets, multi-management and funds of hedge funds.
Alexander Duys CFA,CAIA
Alexander began his financial services career at Dynamic Wealth (February 2008) as an equity analyst, he was promoted to investment strategist and subsequently his last position was portfolio manager. Alexander joined Mvunonala Asset Managers on July 2011 and formed part of the founding investment team. He made a monumental contribution to the establishment of Mvunonala Asset Managers which enabled the business to grow from start up to having assets under management (AUM) in excess of R7 billion.
He was the lead senior equity portfolio manager during his tenure at the firm and left the firm in the capacity of Head of Equities. Alexander joined Umthombo Wealth on 1st August 2017 as Head of Equities and Senior Portfolio Manager. Alexander was appointed chief investment officer (CIO) in November 2020. Alexander has a B.com Investment Management degree from the University of Pretoria, he is a CFA and CAIA charterholder.
Empowerment Credentials
Umthombo Wealth is proud to be a Level 1 contributor in accordance with the B-BBEE Codes of Good Practise on Black Empowerment. Our commitment to transformation is evidenced in the diversity our staff, the manner in which we conduct our business and our commitment to grow and revolutionalise the South African investment landscape.
POLICY DOCUMENTS
Treating Customers Fairly
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Complaints Policy
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POPI Policy
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PAIA Policy
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Conflict of Interest Policy
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