Who is
Cadiz Asset
Management?
Our
investment
process
Our investment philosophy is to provide incremental outperformance over time within defined risk parameters.
Our
investment
philosophy
Cadiz Asset Management follows a Top-down and Bottom-Up investment process.
The Top-Down process focuses on establishing a high-level conviction regarding the directional movement of interest rates. This involves analysing a broad range of factors, including but not limited to Economic Fundamentals, Monetary Conditions, Valuations, Liquidity, Technical Analysis, the International Environment, and other relevant factors.
These factors are evaluated using a weighted scoring mechanism, helping us form a strategic outlook on interest rate direction. This outlook serves as a key guide in shaping our broader investment decisions and is applied across our fixed-income portfolios, ensuring alignment with each fund’s specific mandate, benchmark, and risk parameters.
The Bottom-Up process complements the Top-Down strategy by focusing on the day-to-day management of each portfolio. It ensures that tactical decisions align with the broader market view while maintaining the flexibility to respond to changing conditions.
Key components of the
Bottom-Up process include:
- Security and Sector selection
- Valuation Analysis
- Duration Management
- Risk and Scenario analysis
- Yield Curve analysis
- Credit Analysis
A tried-and-tested process that has proven itself over time.
Executive Team
Ian Kilbride
Chairman
Ian Kilbride LLB (Hons) is an experienced international businessman and the Chairman of Spirit Invest, the parent company of Cadiz. He brings to the Cadiz Board over thirty-five years of experience within financial services, working for both listed and unlisted companies and adding value variously as Chairman, Chief Executive and Non-Executive Director. Ian is an Honorary Professor at the Stellenbosch University Business School. www.iankilbride.com
Adrian Meager
MD and CIO – Orion Investment Managers
Adrian is the Managing Director and Chief Investment Officer of Cadiz Asset Management and a member of the Spirit Group EXCO. Prior to joining Cadiz, Adrian was employed at Momentum and has gained international experience at Lloyds of London. He has extensive knowledge and experience in the wealth management industry and has been actively involved in financial services for over 30 years. Adrian has been actively managing portfolios since 2006.
Sidney McKinnon
MD and CIO – Cadiz Asset Management
Sidney has more than 30 years of experience in the asset management industry. He joined the Spirit Group in November 2013, and with the acquisition of Cadiz in May 2018, was appointed Senior Fixed Income Portfolio Manager South Africa. He has subsequently been appointed as Managing Director and Chief Investment Officer of Cadiz Asset Management. Sidney is ultimately responsible for the management of all portfolios and implementation of the fixed income investment process and philosophy.
Tiaan Meyer
Chief Financial Officer
Tiaan is the Chief Financial Officer of Cadiz and a member of the Cadiz EXCO. A graduate of the University of Stellenbosch, Tiaan qualified as a Chartered Accountant in 2012. He commenced his career as an auditor where he gained valuable exposure across various industries, ranging from small investment firms to JSE-listed companies. Tiaan was promoted to the holding company, Spirit Invest, in 2015 where he started as the Head of Finance. In 2017, Tiaan was promoted to Financial Director of Spirit Invest.
Ryan Magee
Chief Operations Officer
A matriculant of Wynberg Boys’ High School, Ryan is a University of Cape Town alumnus, holding multiple degrees, from an undergraduate BSocSci LOPHRM, a BSocSci Honours degree in Change Management and a Master’s degree (MSocSc) in Organisational Psychology. He held a range of important managerial positions within the Group, leading to his promotion as Chief Operating Officer. With this depth and range of experience and understanding, Ryan heads operations across the entire Group.
Fixed Income Team
Sidney McKinnon
MD and CIO – Cadiz Asset Management
Sidney has more than 30 years of experience in the asset management industry. He joined the Spirit Group in November 2013, and with the acquisition of Cadiz in May 2018, was appointed Senior Fixed Income Portfolio Manager South Africa. He has subsequently been appointed as Managing Director and Chief Investment Officer of Cadiz Asset Management. Sidney is ultimately responsible for the management of all portfolios and implementation of the fixed income investment process and philosophy.
Hope Sono
Fixed Income Portfolio Manager
Hope joined the fixed income team as a Fixed Income Portfolio Manager in November 2020. She holds a BCom Honours degree in Investment Management from the University of Johannesburg and a BCom degree from the University of the Witwatersrand, and she also completed the Investment Management Certificate with CFA UK. She has nine years of experience in the asset management industry.