Cadiz Asset Management

Fixed Income Fund Managementcadiz.co.za

Cadiz Asset Management is a Cape Town-based specialist Fixed Income fund manager, wholly owned by Spirit Invest, offering four unit trust products (Money Market, Enhanced Income, Absolute Yield, and Bond) to South African retail and institutional clients via a proprietary top-down and bottom-up investment process.

Company typePrivate
Founded2013
HeadquartersCape Town, South Africa
Headcount101–250
GTM typeB2B and B2C
OfferingServices

What Cadiz Asset Management does

Cadiz Asset Management is a South Africa-based specialist Fixed Income fund manager, wholly owned by Spirit Invest following its May 2018 acquisition. The firm operates as the dedicated fixed income arm of the Spirit Group, managing assets for both individual (retail) and institutional clients. It offers four unit trust products distributed under the BCI partnership: the Cadiz BCI Money Market Fund (capital preservation and liquidity, 0.25% annual management fee), the Cadiz BCI Enhanced Income Fund (Regulation 28-compliant income strategy), the Cadiz BCI Absolute Yield Fund (targeting 2% over cash over rolling 3-year periods; Morningstar Fund Award winner 2010 and 2011), and the Cadiz BCI Bond Fund (active bond management targeting outperformance of the FTSE JSE All Bond Index, 0.80% annual management fee). The firm holds FSP 45442 authorization as a Financial Services Provider.

The firm's core investment process combines a Top-Down framework — establishing directional conviction on interest rates via weighted scoring across Economic Fundamentals, Monetary Conditions, Valuations, Liquidity, Technical Analysis, and International Environment — with a Bottom-Up framework covering security selection, duration management, yield curve analysis, credit analysis, and risk/scenario analysis, applied with alignment to each fund's mandate and benchmark. Distribution occurs through independent financial advisors, direct institutional relationships, and the BCI Transact self-serve platform, with retail investments starting from R500 per month and institutional mandates customized per client.

Revenue is generated via recurring annual management fees on AUM (e.g., 0.80% for the Bond Fund, 0.25% for the Money Market Fund) plus advisor initial and ongoing fees. The firm is led by Sidney McKinnon (MD and CIO, 30+ years experience), Adrian Meager (MD and CIO of Orion Investment Managers), Ian Kilbride (Chairman of parent Spirit Invest, 35+ years experience), Tiaan Meyer (CFO), Ryan Magee (COO), and Hope Sono (Fixed Income Portfolio Manager). The firm is headquartered in Cape Town with 101-250 employees.

Cadiz Asset Management firmographics

Firmographics

Name: Cadiz Asset Management
Legal name: Cadiz Asset Management
Website: https://cadiz.co.za
Company type: Private
Founded year: 2013
Operating status: Operating
Headcount range: 101–250 employees
Short description: Cadiz Asset Management is a Cape Town-based specialist Fixed Income fund manager, wholly owned by Spirit Invest, offering four unit trust products (Money Market, Enhanced Income, Absolute Yield, and Bond) to South African retail and institutional clients via a proprietary top-down and bottom-up investment process.
Ownership category
akta.pro rank

Cadiz Asset Management industry classification

Industry

Product category: Fixed Income Fund Management
NAICS: Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)
SIC: Finance Services (6199)
akta.pro primary industry: Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)
akta.pro secondary industries: Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Investment Management Advisory (RIA) (FSAEAAAB)

Keywords

Fixed income investing
Unit trust funds
Bond management
Money market funds
Asset management

Where Cadiz Asset Management is headquartered

Location

Headquarters

HQ city: Cape Town
HQ country: South Africa
HQ region: Africa

Offices1 record

Markets served

Cadiz Asset Management business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

Asset Management Fees: Cadiz generates revenue through annual management fees charged on assets under management. The fees vary by fund class, with the Bond Fund charging 0.80% excluding VAT for Class A shares and the Money Market Fund charging 0.25% excluding VAT. Additional fees include advisor initial fees up to 3.00% excluding VAT and ongoing advisor fees up to 1.00% excluding VAT.

Pricing tiers

Model	Billing	Price
Subscription	Annual	Cadiz BCI Bond Fund - Class A
Subscription	Annual	Cadiz BCI Money Market Fund
Unit Pricing	Monthly	Personal Investment Minimum

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Cadiz Asset Management product offering

Product offering

Core offering

Cadiz Asset Management is a specialist Fixed Income fund manager that offers four BCI-branded unit trust funds (Money Market, Enhanced Income, Absolute Yield, and Bond) to individual and institutional investors in South Africa. The company applies a proprietary top-down and bottom-up investment process to deliver risk-adjusted fixed income returns, with investments starting from R500 per month for personal investors.

Product overview

Cadiz Asset Management is a specialist Fixed Income fund manager offering four distinct unit trust products under the BCI partnership: the Cadiz BCI Money Market Fund (low-risk liquidity vehicle), Cadiz BCI Enhanced Income Fund (enhanced income with Regulation 28 compliance), Cadiz BCI Absolute Yield Fund (bond market exposure with award-winning performance), and Cadiz BCI Bond Fund (active bond management targeting ALBI outperformance). The company manages assets for both individual (retail) and institutional clients through a top-down and bottom-up investment process focused on fixed income markets.

Differentiator

Problem solved

Functional benefit

Brands

Cadiz BCI Money Market Fund: A top-performing money market unit trust fund offering high levels of income with capital protection and liquidity.
Cadiz BCI Enhanced Income Fund
Cadiz BCI Absolute Yield Fund
Cadiz BCI Bond Fund

Products and services

Cadiz BCI Money Market Fund A top-performing money market unit trust fund delivering high levels of income in excess of fixed term deposits and call accounts while providing capital protection, stability of monthly returns, and liquidity. Available to individual and institutional investors.
Cadiz BCI Enhanced Income Fund An enhanced income portfolio aiming to achieve a high level of sustainable income and stability of capital invested, with returns exceeding money market funds while maintaining low variability of returns. Regulation 28 compliant, suitable for retirement fund investors.
Cadiz BCI Absolute Yield Fund Provides diversified exposure to the South African bond market aiming to offer 2% return in excess of cash over rolling 3-year periods and positive returns over any rolling 12-month period. Winner of the 2010 and 2011 Morningstar Fund Awards in the Cautious Balanced and Cautious Allocation categories.
Cadiz BCI Bond Fund A bond fund aiming to generate returns above the FTSE JSE All Bond Index (ALBI) over time, utilizing active bond management combined with strategies to reduce risk. Regulation 28 compliant for retirement fund investors.

Quantifiable outcome

Cadiz BCI Absolute Yield Fund aims to provide investors with a return of 2% in excess of cash over a rolling 3-year period
+2 more outcomes

Companies that use Cadiz Asset Management

Customer profile

Segments2 records

Ideal customer profiles2 records

Cadiz Asset Management technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Cadiz Asset Management partnerships and signals

Strategic signal

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Cadiz Asset Management competitors and assessment

Company assessment

Direct peers

Allan Gray: Large South African investment manager offering balanced, equity, and fixed-income unit trusts to retail and institutional clients via financial advisors. Direct competitor in the South African unit trust market and a natural substitute for advisors building client portfolios.
Ninety One: South African-headquartered global asset manager (formerly Investec Asset Management) with substantial fixed-income capabilities across retail and institutional channels. Operates unit trusts on BCI and competing platforms and competes head-to-head for institutional fixed-income mandates.
Prescient Investment Management: South African quantitative and discretionary asset manager with fixed-income, balanced, and equity unit trust offerings distributed via advisors. Comparable specialist boutique competing for the same retail and institutional fixed-income flows.
Ashburton Investments: South African asset manager (part of FirstRand group) offering fixed-income, multi-asset, and equity funds to retail and institutional clients. Competes for institutional mandates and advisor-distributed retail flows.
Coronation Fund Managers: One of the largest independent asset managers in South Africa, listed on the JSE, offering fixed-income and multi-asset funds to retail and institutional clients. Directly comparable specialist fixed-income franchise serving the same BCI/Unit Trust ecosystem and pension fund consultants.
Foord Asset Management: South African boutique asset manager with active fixed-income and balanced funds distributed to retail and institutional clients. Comparable in size, philosophy, and advisor-channel distribution model to Cadiz.
STANLIB: South African asset manager offering unit trusts (including bond and money market funds) distributed via Standard Bank channels and independent advisors. Direct competitor in the same unit trust and fixed-income retail space as Cadiz.

Broad incumbents

Old Mutual Investment Group: One of South Africa's largest asset managers, offering multi-asset and fixed-income funds across retail and institutional segments. Overlaps with Cadiz on institutional fixed-income mandates and Regulation 28-compliant products, but operates at far greater scale.

Emerging players

Abax Investments: Smaller South African boutique asset manager focused on fixed-income and credit mandates for institutional clients. Most directly comparable specialist fixed-income boutique by size and mandate focus.

Others

BCI (Business Connexion Investment Managers): Manages the underlying administration and unit trust platform on which the Cadiz BCI funds (Money Market, Enhanced Income, Absolute Yield, Bond) are housed. Distribution and platform partner rather than a competing manager.

Market position

Strengths7 records

Weaknesses7 records

Competitive moat4 records

Key risks8 records

Key highlights7 records

Customer concentration

Cadiz Asset Management compliance and trust

Trust signal

Compliance2 records

Cadiz Asset Management financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Cadiz Asset Management leadership team

Management profile

Number of profiles

Profiles6 records

Cadiz Asset Management funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Cadiz Asset Management M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Cadiz Asset Management

What does Cadiz Asset Management do?

Is Cadiz Asset Management a public or private company?

Cadiz Asset Management is a private company. It is classified as corporate owned and is currently operating.

When was Cadiz Asset Management founded?

Cadiz Asset Management was founded in 2013. It employs 101 to 250 people.

Where is Cadiz Asset Management based?

Cadiz Asset Management is headquartered in Cape Town, South Africa, in the Africa region.

How does Cadiz Asset Management make money?

One revenue line is on record: asset Management Fees.

Who are Cadiz Asset Management's main competitors?

Direct peers on record are Allan Gray, Ninety One, Prescient Investment Management, Ashburton Investments, Coronation Fund Managers, Foord Asset Management and STANLIB. Old Mutual Investment Group is listed as a broad incumbent. Abax Investments is listed as an emerging player. BCI (Business Connexion Investment Managers) is listed as an others.

Does Cadiz Asset Management have an API?

No public API is recorded for Cadiz Asset Management.

What industry is Cadiz Asset Management in?

Cadiz Asset Management's product category is Fixed Income Fund Management. Its primary akta.pro industry code is FSAAACAC, Portfolio Management–Led RIAs (Discretionary/Model-Based), with a secondary code of FSAEABAA, Registered Investment Advisor (RIA) Wealth Management. Its NAICS code is 523940 and its SIC code is 6199.