The landscape of institutional investment management in South Africa is both dynamic and competitive. As of 2025, South Africa continues to host some of the largest and most influential investment companies in Africa, managing trillions of rands in assets across various sectors. These firms oversee everything from pension funds to corporate investments, ensuring long-term growth for their clients.
In this article, we delve into the top 10 investment companies in South Africa, evaluating their assets under management (AUM), performance, and specialisations. Whether you’re an institutional investor or just curious about the giants of the South African investment sector, this guide will give you insight into the key players shaping the industry.
Top 10 Investment Companies in South Africa
Investment companies in South Africa serve both local and international clients. From state-owned entities to private firms, the competition is fierce, with firms constantly striving for excellence in performance, client service, and innovation. Below is an in-depth look at the top 10 institutional investment companies in South Africa in 2025.
1. Public Investment Corporation (PIC)
The Public Investment Corporation (PIC) is by far the largest asset manager in South Africa and one of the largest in Africa. Managing over R2.7 trillion in assets, the PIC oversees pension funds for government employees through the Government Employees Pension Fund (GEPF), as well as several other state entities.
Key Highlights:
- AUM: Approximately R2.7 trillion
- Performance: The PIC has maintained solid returns in line with its mandate, achieving a 3.6% growth in AUM in the 2023/24 period.
- Specialisations: The PIC is involved in managing government-related pension funds, developmental investments, and infrastructure projects, particularly those that align with public policy objectives, such as green energy investments.
The PIC has cemented its position as a pillar of South Africa’s financial system, steering substantial public investments into long-term growth and infrastructure.
2. Ninety One
Ninety One, formerly part of Investec Asset Management, is a global leader in investment management, with a significant South African presence. As of 2025, Ninety One manages approximately R860 billion of South African assets and R3.15 trillion globally.
Key Highlights:
- AUM: R860 billion in South Africa; R3.15 trillion globally
- Performance: Ninety One has demonstrated strong performance in equity, fixed income, and multi-asset funds. Their global equity portfolios and multi-asset funds have outperformed benchmarks in the past year.
- Specialisations: The firm focuses on a range of asset classes, including equities, fixed income, multi-asset funds, and alternative investments, and is known for its high-quality research and long-term investment strategies.
Ninety One has a global footprint, but its South African operations remain a crucial part of its identity, helping both institutional and retail clients maximise returns.
3. STANLIB Asset Management
STANLIB is the asset management arm of the Standard Bank Group, one of South Africa’s largest financial institutions. With R714 billion in assets under management as of 2024, STANLIB stands out for its 10% AUM growth, which highlights its resilience in a competitive market.
Key Highlights:
- AUM: R714 billion
- Performance: STANLIB has delivered competitive returns across multi-asset and property funds, with its retirement fund and insurance portfolio seeing solid growth.
- Specialisations: STANLIB manages investments across multiple asset classes, including equity, fixed income, real estate, and private equity, serving institutional clients such as pension funds, life insurance funds, and corporate mandates .
With an expansive product offering and strong backing from Standard Bank, STANLIB is a dominant force in South African institutional asset management.
4. Sanlam Investment Managers (SIM)
Sanlam Investment Managers (SIM) is a division of the Sanlam Group, a powerhouse in South Africa’s financial services sector. SIM manages approximately R594 billion in assets as of 2025.
Key Highlights:
- AUM: R594 billion
- Performance: SIM has delivered exceptional returns, particularly in multi-asset portfolios and listed property funds. Its performance is regularly above industry medians.
- Specialisations: SIM offers a range of services, including equity, fixed income, multi-asset strategies, and alternative investments. The firm has also seen growth through its strategic acquisition of Absa’s asset management business, expanding its institutional client base.
As one of South Africa’s leading asset managers, SIM offers expertise in a variety of investment strategies, catering to both local and international institutional clients.
5. Coronation Fund Managers
Coronation Fund Managers is one of the most respected independent asset managers in South Africa, with a legacy of delivering superior long-term performance. Coronation has R572.8 billion in assets under management and remains a leader in the local investment community.
Key Highlights:
- AUM: R572.8 billion
- Performance: Coronation’s flagship funds have consistently outperformed their benchmarks. For instance, its Balanced Plus Fund delivered an annual return of 12.5% over the past year.
- Specialisations: Coronation is known for its active management style, with a focus on equities, fixed income, and balanced funds. It remains a key player in pension funds and endowment funds.
The firm’s ability to maintain strong performance in challenging market conditions makes it a popular choice among institutional investors seeking long-term growth.
6. Allan Gray
Allan Gray is a prominent South African investment firm that follows a contrarian investment philosophy, seeking to capitalise on undervalued assets. It has R561 billion in assets under management and focuses on long-term wealth creation.
Key Highlights:
- AUM: R561 billion
- Performance: The Allan Gray Balanced Fund has consistently delivered strong returns, with 17.3% growth over the past year.
- Specialisations: Allan Gray focuses on equities, multi-asset portfolios, and fixed-income strategies, with a philosophy centred on value investing.
Allan Gray’s investment strategies have allowed the firm to build a loyal client base, including many institutional investors looking for value-based long-term investments.
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7. Alexander Forbes Investments
Alexander Forbes Investments is South Africa’s largest multi-manager, with approximately R427 billion in assets under management. It is renowned for its robust manager selection process, which blends top-performing funds into diversified portfolios.
Key Highlights:
- AUM: R427 billion
- Performance: The firm’s multi-manager portfolios consistently outperform benchmarks, with the Alexander Forbes Performer portfolio being one of the best-performing funds in 2024.
- Specialisations: Alexander Forbes Investments is a multi-manager that offers clients access to top local and global managers. It focuses on retirement funds, corporate pension schemes, and other institutional clients.
As a leading multi-manager, Alexander Forbes Investments offers a level of diversification and expertise that helps institutional clients reduce risk while improving returns.
8. Old Mutual Investment Group (OMIG)
Old Mutual Investment Group (OMIG) is part of Old Mutual, one of South Africa’s oldest and most trusted financial services companies. With R404 billion in assets under management, OMIG is a key player in the South African market.
Key Highlights:
- AUM: R404 billion
- Performance: OMIG’s multi-asset and impact investments have performed well in 2024, particularly its infrastructure funds.
- Specialisations: OMIG focuses on equity, fixed income, impact investing, and developmental investments. The firm is also known for its ESG (Environmental, Social, and Governance) investment strategies.
Old Mutual’s investment group is a go-to for institutional investors seeking ethical and impactful investment options alongside traditional financial growth.
9. Nedgroup Investments
Nedgroup Investments, part of Nedbank, is known for its innovative multi-manager and boutique partnership models, offering institutional clients access to some of the best external managers.
Key Highlights:
- AUM: R401 billion
- Performance: The Nedgroup Opportunity Fund delivered an outstanding 24.2% return in the past year, making it one of the best-performing funds in the market.
- Specialisations: Nedgroup focuses on multi-manager solutions, combining top fund managers to create diversified portfolios tailored to the needs of institutional clients.
Nedgroup’s model allows clients to leverage the expertise of multiple fund managers, creating a highly diversified and resilient investment portfolio.
10. Sanlam Multi-Managers
Sanlam Multi-Managers is a subsidiary of Sanlam, offering multi-manager solutions for institutional investors. The firm manages R379 billion in assets, with a focus on creating diversified portfolios by selecting top-performing managers.
Key Highlights:
- AUM: R379 billion
- Performance: Sanlam Multi-Managers has performed consistently in the upper half of multi-manager rankings, with positive returns across its balanced funds.
- Specialisations: The firm primarily offers multi-manager portfolios, targeting pension funds and other institutional clients.
Sanlam Multi-Managers leverages Sanlam’s extensive network of managers to create comprehensive and effective investment solutions for its clients.
Invest in Your Future
In 2025, South Africa’s top 10 investment companies will continue to shape the landscape of institutional asset management. With trillions of rands in assets under management, these firms are central to the growth of pension funds, retirement savings, and large-scale investments across the country.
From the Public Investment Corporation’s (PIC) dominance in government-backed pension funds to Ninety One’s global footprint, each company offers unique strategies and specialisations. Whether focusing on active management, multi-manager solutions, or impact investing, the firms listed here are leaders in their field, providing the expertise and trust required to navigate South Africa’s complex investment landscape.
As an investor or institutional client, understanding the capabilities of these firms will help ensure that your assets are managed in line with your long-term goals. Each of the top 10 firms brings a wealth of experience, knowledge, and insight, shaping South Africa’s investment future.