Who we are

Futuregrowth manages ± R 177 billion of assets across the full range of interest bearing and developmental investments.

Keeping our promises to clients through fundamental analysis that supports strong investment views.

The Futuregrowth story

A vision unfolding

Would the founders of Futuregrowth in 1994 recognise the leading asset management company it’s become today?

Originally, Futuregrowth was founded to bring Michael Leeman’s honours thesis to life. Backed by Southern Life, the initial suite of funds focused on social development and empowerment. The aim was to make money for pension funds while investing in disadvantaged communities.

Fast forward more than 20 years and today Futuregrowth manages around R170 billion of clients’ assets, across the full range of fixed interest and development funds, and plays a key leadership role in the asset management industry in South Africa.

During this time, and under the leadership of Paul Rackstraw and Andrew Canter, we have not waivered from our purpose: “to protect and grow investors’ savings through skill and diligence in a way that engenders trust and sustainably enriches people’s lives, while being a positive force in society, markets and for all our stakeholders”.

This purpose is based on the belief that investors can genuinely make a positive difference in society while earning sound investment performance for pension fund members.

This belief is what inspires us to pioneer development funds in sectors such as infrastructure, rural and township retail property, agriculture and renewable energy, channeling funds into innovative deals including low-income housing construction, a church in Soweto, urban regeneration projects and taxi finance, to name a few.

Because of our commitment to our clients, Futuregrowth has on various occasions taken action that has not necessarily been in our own best interests. Take the furore that ensued in 2016 after we announced that we could no longer in good conscience invest pension fund members’ assets in certain SOEs until we had concluded a governance review.

On another occasion, we identified unfair and unsustainable practices within the micro-lending industry as non-developmental and ceased further investments from our development funds into this sector.

So to answer the question raised at the outset, we believe the answer is yes. The original concept of Futuregrowth is still alive, and thriving, in the Futuregrowth of today. Because even though the company has developed into a large and successful asset management brand, the philosophical belief on which the business was founded is still at the core of everything we do.

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Our promise to clients

At Futuregrowth we take our ethical responsibility towards our clients seriously. These nine statements make up our promise to you.

  1. Our clients’ interests always come first.
  2. We apply investment judgment based on informed, diligent, objective, and independent analysis.
  3. Our behaviour is honest, competent, ethical, and complies with applicable laws and regulations.
  4. We treat all clients fairly.
  5. We avoid conflicts of interest in the provision of our products and services, but where unavoidable make full disclosure to clients.
  6. Client confidentiality is upheld at all times.
  7. Our costs are fair, reasonable, and transparent and are clearly explained.
  8. We communicate clearly, accurately, and in a timely and effective manner.
  9. We keep appropriate and complete client records.

If your experience of Futuregrowth is not aligned with these statements please let us know at ourpromise@futuregrowth.co.za.

Note: This promise statement is adapted from the CFA Institute’s Statement of Investor Rights. Click here to view these Rights. 

Our History

The Futuregrowth story

Our Awards

Over the years, we have been nominated for and received numerous industry awards in various categories. Below are some of our achievements...

  • 2017

    MSCI South Africa Real Estate Investment Award
    Best Performing Specialist fund over 3 years: Community Property Fund




  • 2016

    Batseta Imbasa Yegolide Awards
    Bond Manager of the Year




  • 2015

    Batseta Imbasa Yegolide Awards
    Responsible Investment Manager of the Year

  • 2014

    Raging Bull Awards
    South African Interest-bearing Variable-term: Community Growth Gilt Fund


  • 2013

    AfricaAM Performance Awards
    South Africa Fixed Income Fund - Long Term Performance: Futuregrowth Infrastructure & Development Bond Fund

    POA Imbasa Yegolide Awards
    Bond Manager of the Year

    POA Imbasa Yegolide Awards
    Responsible Investment Manager of the Year 

    Raging Bull Awards
    Best Domestic Fixed-interest Income Fund: Old Mutual Income Fund (R Class)

  • 2012

    Raging Bull Awards
    Best Domestic Fixed Interest Income Fund

  • 2011

    Africa Investor Agribusiness Investment Awards 
    Agribusiness Fund of the Year 

    POA Imbasa Yegolide Awards
    Socially Responsible Investor of the Year 

    Global Pensions Award
    Socially Responsible Investing

  • 2010

    The Mail & Guardian Investing in the Future Awards
    Enterprise Development

    Africa Investor Infrastructure Investment Awards
    Social Infrastructure Deal of the Year

  • 2009

    The Mail & Guardian Investing in the Future Awards
    Enterprise Development

  • 2008

    Africa Investor Infrastructure Investment Awards
    Infrastructure Fund of the Year

Our Group Structure

Old Mutual Investment Group is a shareholder of Futuregrowth Asset Management.

Read more about Old Mutual

Board Members

Mr PE Rackstraw

Managing Director


Mr D Macready (Chairperson)

Managing Director

Old Mutual Investment Group

Mr AC Canter

Chief Investment Officer


Mr H George

Director of Investments

Old Mutual Investment Group

Mr M Patel

Financial Director

Old Mutual Investment Group

Ms DM Lerutla

Independent Member

Mr HW Beets

Independent Member