Koel retires from STANLIB Asset Management
John Koel, Chief Investment Officer of STANLIB Asset Management, is to retire from the investment industry, but will continue to consult to the company for the next year.
He steps down as CIO at the end of May.
George Brits, Chief Executive Officer of STANLIB Asset Management, paid tribute to the Koel contribution.
â€œJohn played a key role in the merger between SCMB Asset Management and Liberty Asset Management and has been a major contributor to STANLIB Asset Managementâ€™s current success. I wish to thank him for his contribution and his work over many years for the Liberty Group prior to STANLIBâ€™s creation in 2002,â€ said Brits.
Responsibility for the CIO portfolio is being taken by Brits until the appointment of a successor.
Fund manager Errol Shear is also to leave STANLIB Asset Management.
Brits noted: â€œErrol served for many years with Liberty Asset Management before the formation of STANLIB and was largely responsible for the management of in-house Liberty funds. We wish Errol well in his new career.â€
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An investment is a non-directional bet if it is not dependent on the underlying asset or market moving in a specific direction to make a profit. For example, being long a straddle will be profitable if the underlying increases or decreases.