27four Investment Managers

What 27four Investment Managers does

27four Investment Managers is a South African, black women-owned, managed, and controlled multi-manager investment group founded in 2007 and headquartered in Johannesburg. The firm operates a comprehensive investment platform spanning multi-asset fund of funds, Shari'ah-compliant products, money market and income funds, JSE-listed Actively Managed ETFs (AMETFs), the Agrarius Sukuk, and institutional fiduciary management services. Its service architecture is delivered through wholly owned subsidiaries including 27four Collective Investments (RF) (Pty) Ltd for CISCA-regulated fund administration, 27four Life Limited for policy-based fund hosting, and 27four Platform Services. 27four serves individual retail investors (via unit trusts, retirement annuities, preservation funds, living annuities, tax-free savings, and endowments), institutional clients (retirement funds, medical schemes requiring fiduciary management, ALM modelling, and B-BBEE transformation advisory), and emerging black and women-owned asset managers through the DEI Asset Manager Program (DEI AMP) which has facilitated over R1 trillion in AUM across 60+ managers since 2007. The firm monetizes through recurring fund management fees on CISCA-regulated schemes, professional services fees for fiduciary mandates, and managed services revenue from the Agrarius Sukuk programme. Product technology centers on multi-manager diversification, a machine learning and style-momentum approach in the SA Multi-Factor AMETF, and a proprietary set of thought-leadership assets including the DEI Index, BEE.conomics 15-year survey, and Gender.conomics monthly report. The firm is led by CEO Fatima Vawda and holds FSP 31045 authorization under FAIS plus CISCA registration, making it the only black women-owned linked-life insurer and CIS Manco in South Africa.

Name

27four Investment Managers

Legal name

27four Investment Managers (Pty) Ltd

Website

https://27four.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

27four Investment Managers is a South African black women-owned multi-manager investment firm offering fund of funds, Shari'ah-compliant products, JSE-listed AMETFs, Sukuk, and institutional fiduciary management to retail investors, retirement funds, and medical schemes.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Pension Funds (52511), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Asset-Backed Securities (6189)

akta.pro primary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

akta.pro secondary industries

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Emerging Manager / Seeding Platforms (Multi-Manager) (FSANAGAF), Portfolio Construction & Asset Allocation Advisory (FSAEAAAC), ESG/Sustainable Investment Advisory (FSAEAAAJ)

Keywords

• Multi-manager investments
• Fiduciary management services
• Shariah compliant funds
• Asset management solutions
• Retirement fund products

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Management Fees: 27four Investment Managers (Pty) Ltd is an authorised Category I, II and IIA Financial services provider managing collective investment schemes. They charge management fees on their fund range including multi-asset funds, Shari'ah compliant funds, AMETFs, and money market funds. 27four Collective Investments (RF) (Pty) Ltd administers collective investment schemes in securities.
2. Fiduciary Management and Advisory Services: Provides institutional clients with investment strategy formulation, implementation, and monitoring services including ALM modelling, asset manager selection, portfolio construction, and B-BBEE transformation advisory. Services are tailored for retirement funds and medical schemes.
3. Agrarius Sukuk Programme: Through the R10 billion asset-backed note programme, 27four facilitates Shari'ah-compliant agricultural investments. The programme has raised R1 billion through three sukuk issuances with profit participation rates linked to JIBAR.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

27four Investment Managers is a South African multi-manager investment firm that builds and manages a diverse range of collective investment scheme funds (multi-asset, money market, Shari'ah compliant, global, impact) and JSE-listed Actively Managed ETFs. It also provides institutional fiduciary management and regulated fund hosting services to retirement funds, medical schemes and corporates, alongside a Shari'ah-compliant asset-backed Sukuk programme (Agrarius) and a Diversity, Equity & Inclusion Asset Manager Program.

Product overview

27four Investment Managers is a South African asset management firm offering a comprehensive suite of investment products and services across multiple categories. The firm operates a multi-manager fund of funds architecture alongside directly managed funds, covering multi-asset class, income, money market, Shari'ah-compliant, global, impact, and venture capital strategies. Key product lines include the 27four Fund of Funds series (Stable, Balanced, Asset Select, CPI+3%, CPI+5%, CPI+7%), Shari'ah-compliant funds (Active Equity, Balanced, Income, Stable, Wealth Builder), Actively Managed ETFs (Large Cap Equity, SA Multi-Factor, Global Multi-Factor, Global Islamic), and the flagship Agrarius Sukuk (Africa's first JSE-listed sustainability-linked Islamic finance product). The firm also offers retirement solutions (Retirement Annuity, Preservation Fund, Living Annuity), tax-efficient savings (Tax-Free Savings Account, Endowment Policy), and institutional services including fiduciary management, fund hosting, and the 27four DEI Index benchmarking framework. The 27four Online portal provides investor account access, while the DEI AMP (Diversity, Equity and Inclusion Asset Manager Program) channels capital to black and women-led funds.

Differentiator

Problem solved

Functional benefit

Brands

• DEInvest: Initiative focused on benchmarking diversity, equity and inclusion in South Africa's asset management industry through annual surveys and the DEI Index
• Agrarius Sukuk
• DEI AMP
• Gender.conomics
• fundHERforward
• 27four AMETFs

Products and services

• 27four Multi-Manager Fund of Funds range A suite of multi-asset class fund of funds products that combine multiple underlying asset managers and investment styles for diversified, professionally managed exposure. Includes the 27four Stable Fund of Funds, 27four Balanced Fund of Funds, 27four Asset Select Fund of Funds, 27four CPI+3% Fund, 27four CPI+5% Fund and 27four CPI+7% Fund, targeting conservative to aggressive risk profiles for South African retail and institutional investors.
• 27four Money Market Fund A money market fund offering investors returns higher than cash deposits with a high degree of capital safety and daily liquidity. Targeted at South African investors seeking a liquid, capital-stable cash-management vehicle.
• 27four Diversified Income Fund An income-focused fund designed to generate a reasonable stream of income with relative capital stability through diversified fixed-income investments. Targeted at South African investors seeking yield with lower volatility.
• 27four Shari'ah-Compliant Fund Range A full Shari'ah-compliant investment range covering active equity, balanced, income, stable, multi-managed balanced and wealth builder strategies. All products are governed by 27four's Shari'ah Advisory Committee and adhere to Islamic investment principles, for South African and global Shari'ah-conscious investors.
• 27four Actively Managed ETFs (AMETFs) A family of JSE-listed Actively Managed ETFs providing cost-efficient, market-beating exposure. Includes the 27four Large Cap Equity AMETF (JSE-listed large-cap SA equity), 27four SA Multi-Factor AMETF (uses machine learning and style momentum to rotate across value, growth, momentum and quality styles in SA shares), 27four Global Multi-Factor AMETF (multi-factor strategy on top 150-200 MSCI World companies), and 27four Global Islamic AMETF (Shari'ah-compliant global equity). Available to investors through any stockbroker or investment platform.
• Agrarius Sukuk Africa's first JSE-listed sustainability-linked, asset-backed Sukuk providing Shari'ah-compliant exposure to the South African agricultural value chain. Issued under a R10 billion asset-backed note programme, with R1 billion raised across three sukuk issuances (tickers AGRIA1, AGRIB1 on the JSE Debt Market), profit participation rates linked to JIBAR. Distributed via JSE listing, Endowment Policy (minimum R10,000) and Investment Linked Living Annuity. Delivered an 11.5% return to investors in its first coupon payment in September 2023.
• 27four Global Equity Feeder Fund and Global Equity Fund of Funds Products providing South African investors with access to global equity markets, including a feeder fund into global equities and a fund of funds offering diversified exposure to global private markets (buyout, credit, secondaries, growth and venture capital).
• 27four DEI Asset Manager Program (DEI AMP) Funds Multi-manager fund products that channel capital to black and women-led asset managers in South Africa. Includes the 27four High Equity Balanced Fund of Funds, Progressive CPI+5% Fund, Progressive Diversified Income Fund and Black Business Growth Fund. Part of 27four's Diversity, Equity and Inclusion Asset Manager Program established in 2007, through which over 60 black and women-owned asset managers have been facilitated.
• 27four Venture Capital Fund and 27four Nebula Fund Impact and venture capital vehicles. The 27four Venture Capital Fund is a black-female led and founded early-stage impact fund targeting Series A onward investments in revenue-generating companies with exclusive IP. The 27four Nebula Fund is a venture capital fund using a three-step risk-mitigation framework to unlock high returns and deliver meaningful impact from innovative early-stage companies.
• 27four Retirement Solutions (Retirement Annuity, Preservation Fund, Living Annuity) Tax-efficient retirement investment vehicles for South African individuals. The Retirement Annuity offers tax-deductible contributions up to 27.5% of income (capped at R350,000/year) and access from age 55. The Preservation Fund protects retirement savings on dismissal, retrenchment or resignation with tax-free growth. The Living Annuity provides a regular retirement income taxed at the investor's marginal rate. Retirement Annuity minimums: R10,000 lump sum / R500 monthly; Preservation Fund minimum: R100,000 lump sum.
• 27four Endowment Policy A five-year restricted investment plan used for estate planning and tax benefits, suited to individuals whose marginal income tax rate exceeds 30%. Income is taxed at a flat 30% and capital gains at 12%. Also used as a wrapper for Agrarius Sukuk exposure (minimum R10,000).
• 27four Tax-Free Savings Account A tax-efficient South African savings vehicle with no tax on interest, dividends or capital gains, subject to a R36,000 per tax year contribution limit and a R500,000 lifetime limit. Withdrawals are permitted at any time but consume the lifetime limit.
• 27four Fiduciary Management Services Institutional investment management services for retirement funds and medical schemes, including investment strategy formulation and implementation, default fund annuity strategy, ALM modelling, strategic and tactical asset allocation, asset manager selection across public and private markets, gender lens investing, private markets investing, transformation consulting, and policy drafting.
• 27four Fund Hosting Solution End-to-end regulated fund hosting solution for retirement funds and medical schemes, providing multi-tier portfolio formation, daily unitisation, and reporting through a policy of insurance issued by 27four Life Limited (a registered insurer under the Insurance Act No.52 of 1998).
• 27four Stockbroking Portfolio Management Management of a customized portfolio of South African and/or global listed securities against an agreed mandate, with a minimum investment of R5 million. Targeted at HNW retail and institutional investors seeking tailored domestic and global share portfolios.
• 27four Online Investor Portal Secure online portal providing existing 27four investors with 24/7 access to their investment accounts, the ability to update details, download statements and tax certificates, and process transactions online.

Quantifiable outcome

• 11.5% return for investors in the first coupon payment of Agrarius Sukuk in September 2023, outperforming many asset-class benchmarks
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• BlackRockflagshipStrategic or Co-development PartnerABSIP, 27four Investment Managers and BlackRock global skills development partnership enters its 7th year, focused on enhancing expertise of Black investment professionals in management of global assets through practical, hands-on global training. Two investment professionals are selected annually to participate in BlackRock Educational Academy courses.
• ABSIP (Association of Black Securities and Investment Professionals)flagshipStrategic or Co-development PartnerABSIP partners with 27four and BlackRock on the Black Asset Manager Global Skills Development Program, now in its 7th year, to build capabilities of Black investment professionals in global asset management.
• 27four Life LimitedcoreImplementation/ SI/ Consulting PartnerA registered insurer under the Insurance Act, No.52 of 1998, as amended, that issues policies for 27four's fund hosting solutions. Fund assets are invested through policies issued by 27four Life Limited for institutional clients.
• Wits UniversityminorStrategic or Co-development Partner27four participated in a fintech research showcase at Wits University discussing emerging technologies like AI, quantum computing, and blockchain shaping the future of finance. The event emphasized advancing innovative research and fostering strategic partnerships.
• JSE (Johannesburg Stock Exchange)coreOthers27four products are listed on the JSE including Actively Managed ETFs (AMETFs) and the Agrarius Sukuk (AGRIA1, AGRIB1) on the JSE Debt Market. The JSE provides the regulatory listing venue and market infrastructure for 27four's listed investment products.
• 27four Collective Investments (RF) (Pty) LtdcoreOthersA related entity authorised in terms of the Collective Investment Schemes Control Act, No. 45 of 2002 (Cisca) to administer collective investment schemes in securities. Provides the regulatory wrapper for 27four's unit trust and fund of funds products.

Scale indicators5 records

Recent moves6 records

Direct peers

• Ninety One: Dual-listed South Africa-born global multi-asset manager with strong institutional and retail FoF franchises; directly comparable multi-asset, retirement, and Africa-and-global product set.
• Sygnia: JSE-listed South African asset manager offering low-cost index-tracking, multi-manager, and ETF products; closely comparable product range including JSE-listed ETFs and FoF structures.
• Coronation Fund Managers: JSE-listed South African long-term-focused asset manager running multi-manager and direct mandates across institutional and retail channels; directly comparable multi-manager architecture and FAIS-class peer to 27four.
• Allan Gray Africa ex-SA Equity Fund (Allan Gray): One of the largest independent South African multi-manager firms, running unit trusts and institutional mandates with a comparable fund-of-funds construction approach for retail and institutional clients.

Broad incumbents

• Ashburton Investments: FirstRand-owned South African asset manager covering multi-asset, institutional mandates, and FoFs; overlapping target clients (retirement funds and medical schemes) with 27four, with deeper balance-sheet support.
• Momentum Investments: South African multi-boutique investment house with retirement, multi-manager, and Shari'ah offerings; overlaps product by product with 27four within a larger life-insurance-owned distribution group.
• Old Mutual Investment Group: Vertically integrated SA asset manager and administrator serving retirement funds and individual savers; comparable institutional fiduciary and unit trust capabilities, embedded within a major insurance-owned group.
• Absa Asset Management: Absa Group's institutional and retail asset management franchise covering multi-asset, Shari'ah, and retirement offerings; peers with 27four on retail unit trusts and institutional fiduciary mandates within a much larger banking group.
• Stanlib (Standard Bank Group): Large South African multi-affiliate asset manager within Standard Bank, offering multi-asset unit trusts, institutional mandates, and Shari'ah portfolios — overlapping offering with 27four but part of a much broader banking group.
• Sanlam Investments: Mass-market South African financial services group's asset management arm with a wide institutional and retail product range including retirement solutions; directly overlapping with 27four's institutional and retail franchise at much greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/27four-investment-managers

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 27four Investment Managers