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Effectus Capital Management

About Effectus

Built on the discipline of execution.

Effectus was founded in 2015 as the vision of a consortium of four investment professionals, on the principle that timely and precise execution leads to superior outcomes for clients.

Repeating modules of a white concrete facade, seen from below.

Why we exist

Two gaps, one firm.

We saw two gaps in the South African market. The industry systematically underpriced long-term structural growth driven by innovation, technology and disruption, favouring deep value and resource cyclicality. And asset management was largely transforming through ownership structures, rather than by building investment capability in Black professionals.

We built Effectus to close both gaps at once: an institutional-quality equity process around our ITD framework, and a firm that develops and places Black investment talent.

Effectus is 100% Black Owned and Managed.

Our story

  1. 2015

    • Effectus founded by four investment professionals.

  2. 2016

    • SA and Global Growth & Innovation track records begin (March 2016).

  3. 2018

  4. 2019

    • Three-year track record completed.
    • Authorised by the FSCA as FSP 50016 (7 May 2019).

  5. 2020

    • Third institutional client.
    • Strategies made available as EasyEquities bundles.

  6. 2021

    • Lwazi Koyana appointed independent Chairperson.
    • Investment team expanded with an additional analyst.

  7. 2023

  8. 2024

    • Investment team expanded with a further analyst.
    • Enterprise and supplier development (ESD) funding secured.

  9. 2026

    • The investment team has grown to seven.
    • Our investment team appears regularly on eNCA and other television to comment on the market.

Milestones as previously published by Effectus.

Values

What we hold ourselves to.

  • 01 Integrity
  • 02 Excellence
  • 03 Innovation
  • 04 Team work
  • 05 Embracing transformation
  • 06 Valuing diversity

Governance

How Effectus is overseen.

Effectus is overseen by a Board chaired independently by Lwazi Koyana, a chartered accountant. The Chief Executive reports to the Board, which approves our responsible investment policy and proxy voting guidelines.

Risk and compliance sit outside the investment desk. Our Key Individuals are Bhavesh Patel and Aviraag Ramdhani; our compliance officers, as listed on the FSCA register, are Mrs ML Patel and Mrs N Trikamjee.

The Investment Committee takes research decisions as a team, and no individual, including the Chief Investment Officer, can force a stock onto the approved list. Two portfolio managers can run each strategy in full. In our equity strategies, we trade only listed instruments and take no short positions.

Our accounts are externally audited by Accensis Incorporated, Chartered Accountants (SA), Registered Auditors. Details of administration, valuation and custody are in our due diligence pack .

People

The team.

Lwazi Koyana · Independent Chairperson
Lwazi chairs the Board and leads its oversight of governance, risk and remuneration. A chartered accountant, Lwazi's earlier career includes Syfrets Managed Assets and Nations Capital, and Lwazi has chaired Effectus since 2021.
Aviraag Ramdhani · Chief Executive Officer · Portfolio Manager · FSCA Key Individual
Aviraag leads the business, sits on the Investment Committee, challenges the research, manages client relationships and reviews mandate compliance. Aviraag has more than 20 years of experience; before Effectus, Aviraag spent 10 years in the banking industry.
Simpiwe Mayekiso · Chief Investment Officer · Portfolio Manager
Simpiwe sets investment strategy, leads portfolio construction and leads buy and sell decisions on our strategies. Simpiwe has more than 25 years of experience in asset management and private equity. Prior to Effectus, he worked at Eskom Pension and Provident Fund, African Harvest and Kagiso Ventures.
Bhavesh Patel · Head of Risk · FSCA Key Individual
Bhavesh provides risk oversight independent of the investment function, and is a Key Individual of the FSP.
Avinesh Reddy · Business Development Director
Avinesh manages relationships with clients and consultants and leads distribution, with 18 years of experience in financial services and technology.
Tshepo Lephothe · Assistant Portfolio Manager
Tshepo leads research on the Financials sector, executes trades under the Chief Investment Officer's oversight, mentors the analysts and prepares client reporting. Tshepo has 8 years of experience, including six years at the Eskom Pension and Provident Fund.
Nomcebo Khumalo · Junior Equity Analyst
Nomcebo covers Real Estate.
Michael Cartwright · Junior Equity Analyst
Michael covers Resources.
Fezile Nolutshungu · Junior Equity Analyst
Fezile covers Technology.
Lutendo Netshikweta · Junior Equity Analyst
Lutendo covers Consumer.

Portraits use existing Effectus team photography, given one consistent graphite treatment. Tones are graded only; faces are not altered.