Steve Mills resigns from Sanlam Investment Management

Sanlam Investment Management (SIM) has announced the resignation of Steve Mills who intends pursuing money management opportunities within a different setting in the Sanlam Group.

He will leave with effect from 31 March 2009 to join Sanlam Private Investments as a private client fund manager. Mills has been a member of the SIM asset management team for more than seven years. During this time he made a considerable contribution to the management of both the absolute return and balanced fund areas within SIM. He was the fund manager of the SIM Balanced Fund.

Gerhard Cruywagen, who took up the position of Chief Investment Officer at SIM in August this year, has already taken responsibility for SIM's institutional balanced fund mandates. He will now also be responsible for the management of the SIM Balanced Fund.

In addition, Cruywagen  will take over the management of the SIM Solution Funds. These include the Managed Conservative Fund of Funds, the Managed Cautious Fund of Funds, the Managed Moderate Fund of Funds, the Managed Moderate Fund of Funds, the Managed Moderate Aggressive Fund of Funds and the Managed Aggressive Fund of Funds.

The management of the Absolute Return boutique will be jointly shared by Gerhard Cruywagen and Philip Liebenberg. Gerhard pioneered and managed the absolute return area at Prudential Portfolio Managers over the past seven years and delivered credible performance, with the area growing to close to R10 billion. Philip has managed the fixed interest component of SIM's absolute return offering for over two years. He also manages the SIM Active Income Fund, which has produced consistent top quartile performance since inception.