At Mazi Asset Management, our strengths lie in our differences. By strategically representing these differences, we have achieved significant results for our clients. We value the diversity of thought, skills, people, and perspectives. We represent diverse cultures, backgrounds, professions, skills, and demographics. We’re actuaries, accountants, and auditors. We’re engineers, mathematicians, and statisticians. We’re researchers, analysts, and economists. We know investments. We know business. We know potential when we see it.
As the founder of Mazi Asset Management, Malungelo Zilimbola has led the firm since its inception in 2006. As Chief Executive Officer, he shapes the company’s strategic vision, championing innovation and excellence across investment management, operational efficiency, and client engagement. With extensive experience managing specialist equity funds, retail equity funds, listed property funds, and hedge funds, Malungelo is a recognised leader in the asset management industry. He began his career in the industry in 2000.
Beyond Mazi, he is a distinguished member of the Young Presidents' Organisation (YPO) and a Fellow of the Aspen Global Leadership Initiative. His dedication to the financial sector is further reflected in his roles as a Non-Executive Director of ASISA (Association for Savings and Investment South Africa) and as a member of the Investment Committee of the Nelson Mandela Foundation.
Asanda Notshe plays a central role in shaping Mazi’s investment strategy. Guided by a deep curiosity about how things work and a passion for helping others realise their full potential, he brings a unique blend of strategic insight and client-focused thinking to his work.
He began his career in 2004 as an actuarial analyst at Alexander Forbes Financial Services, before moving to Stanlib, where he led the product development division. Since joining Mazi in 2010, Asanda has been instrumental in portfolio management, investment research, and executive decision-making. His strong analytical capabilities and deep understanding of financial markets allow him to navigate complex investment environments with confidence — helping clients achieve sustainable growth and long-term financial success.
Francois Olivier began his career in 2000 and joined Mazi Asset Management in 2013. He is a senior portfolio manager and a key member of Mazi’s executive committee, bringing extensive experience in investment management. His global perspective — shaped by a significant tenure in San Francisco — enables him to identify high-value opportunities across diverse markets. Francois started his career as an auditor at Ernst & Young, where he developed a strong foundation in financial analysis and risk assessment. His strategic insights and commitment to value-driven investment solutions continue to strengthen Mazi’s performance-focused approach to asset management.
Kopano Makhu joined Mazi Asset Management in 2015, bringing extensive experience in domestic fixed income and equity markets. He began his career in 2008 as a graduate trainee at Hannover Re before moving to Sanlam Capital, where he headed the fixed income division. Over the years, he has built deep expertise as a quantitative analyst, proprietary trader, and portfolio manager. At Mazi, he plays a pivotal role in managing multi-asset portfolios, ensuring clients benefit from disciplined, well-structured investment strategies.
Keonethebe Bosigo is the portfolio manager of the Mazi Africa Fund, where he applies a rigorous, research-driven investment process to analyse listed companies across the continent. He began his career in 2007 and joined Mazi Asset Management in December 2013. With expertise in multi-management, equity analysis, and portfolio management, Keonethebe is dedicated to delivering superior returns for clients through disciplined and informed investment strategies.
Stephán Engelbrecht began his investment career in 2004 and joined Mazi Asset Management in 2022. He is passionate about structured, systematic, and quantitative investment techniques. His expertise in data-driven decision-making has been instrumental to his role at Mazi. He is currently completing a PhD in Finance at Wits, with a focus on machine learning in investment management—further deepening his quantitative approach to portfolio management.
Shaun Bruyns joined Mazi Asset Management in 2019, bringing extensive experience. He began his career in 1996 as a Research Analyst at RMB Asset Management and progressed to roles including Head of Consumer Industrial Research, portfolio manager, and EXCO member. In 2009, he stepped away from corporate finance to launch a fast-moving consumer goods business before returning to investment management in 2019.
He began his career in the industry in 2003 and joined Mazi Asset Management in 2020, specializing in global equity analysis and portfolio management. His passion for financial markets drives his strategic investment appraisal and decision-making, ensuring long-term value creation.
Luxolo Mehlomakulu began his career in the industry in 1996 and joined Mazi in 2016. He has built an extensive career spanning cost accounting, client reporting, and equity trading in South Africa’s asset management industry.
Natasha joined Mazi Asset Management in May 2022, leveraging her extensive experience in global equity analysis and management consulting. She was promoted to head of Research in March 2024. Her career spans roles at Melville Douglas, ERG Africa, Deloitte, and Worley Parsons, where she honed her expertise in business analytics and strategic investment research.
Mbasa joined Mazi Asset Management in May 2017, following her tenure at Ernst & Young and Arqaam Capital in Dubai. She was promoted to Deputy Head of research in March 2024. Her investment philosophy is rooted in pragmatism, guided by Jack Welch's maxim: "Face reality as it is, not as it was or as you wish it to be." She plays a key role in shaping Mazi's research strategy and investment decision-making.
Neo joined Mazi through its graduate programme in April 2022 and was appointed as an Investment Analyst in March 2023. With a strong academic foundation and an analytical mindset, she brings fresh perspectives to the investment team, ensuring Mazi stays ahead in a rapidly evolving financial landscape.
Kgapu began his career in the industry in 2003 and joined Mazi Asset Management in 2013, bringing a sharp analytical eye to the metals and mining sector. His expertise extends beyond financial modelling, providing deep insights into the broader economic landscape and industry dynamics. With a keen understanding of key stakeholders in the mining sector, Kgapu plays a pivotal role in identifying investment opportunities that align with Mazi's strategic vision.
Kefilwe joined Mazi Asset Management in 2013 after beginning his career as an actuarial analyst at Alexander Forbes Financial Services in 2013. As an equity research analyst, he applies his actuarial expertise to uncover investment opportunities, strengthening Mazi's research-driven investment approach.
Moses joined Mazi Asset Management in October 2024, bringing a wealth of experience in financial markets. His career includes leadership roles at EFG Holdings, where he distinguished himself in securities analysis, client engagement, and research innovation. With a proven track record of driving revenue growth and market expansion, Moses contributes valuable strategic insight to Mazi’s investment team.
Kabelo brings extensive investment experience, having worked at Renaissance Capital and Rand Merchant Bank. He began in the investment industry in 2015 and joined Mazi in May 2022. With a strong focus on the mining, paper, and packaging industries, he brings deep sector knowledge and analytical rigour to Mazi's investment strategies.
Jan began his investment career at Allan Gray in 2006 and joined Mazi Asset Management in January 2022. He applies a systematic, evidence-based approach to investment research, helping ensure the firm remains at the forefront of global equity market opportunities.
Jaynesh began his investment career in 2013 through the Stanlib graduate programme, where he worked with the Africa ex-SA equity team and was later appointed as a portfolio manager. He joined Mazi Asset Management in May 2019 as a research analyst, focusing on the Africa Fund. He is currently part of the Mazi NextGen programme, which develops future investment leaders within the firm.
Alungile is an experienced quantitative analyst with a strong background in data-driven approach to finance. He began his investment career in 2018 at Prescient Securities. Since joining Mazi Asset Management in 2022, he has been part of the NextGen team, where he focuses on machine learning–driven investment strategies.
Devon began his career in global equity in 2015. He joined Mazi Asset Management in April 2025 from Stonehage Fleming, where he was an equity research analyst.
Phindile Moteane joined Mazi Asset Management in October 2016. Sheleads client services ensuring that every interaction reflects professionalism, efficiency, and excellence. Her role is pivotal in enhancing client relationships and maintaining seamless communication between the firm and its investors. With a strong commitment to client satisfaction, Phindile is dedicated to delivering a high-quality investment experience.
Juliet Ngobeni brings a wealth of expertise to client services at Mazi Asset Management. She joined Mazi in November 2021 and began her career at Old Mutual Actuaries and Consultants, focusing on due diligence, market research, and investment reporting. Before joining Mazi, she worked as a Financial Analyst at Old Mutual Personal Finance. Juliet's passion for financial markets and commitment to exceptional client service drive her approach to delivering outstanding investment support.
Walter began his career in the industry in 2008 and joined Mazi in October 2020. With expertise in fund management, alternative investments, and finance, he is instrumental in Mazi Global’s business development strategy. Before joining Mazi, he led business development at a boutique fund manager specialising in global equity products.
"The quote by Sir Isaac Newton resonates profoundly with me as it reminds me every day of wisdom, learning, listening, humanity, empathy, integrity, real partnerships and my custodian duty to the next generation." - Walter Rauch
Portia joined Mazi Asset Management in August 2024. She has over 20 years of experience in human resources, having worked at organisations such as Vodacom, Anglo American, Absa, and Ninety One. Her expertise spans human resource management, recruitment, and departmental structuring.
Vanessa joined Mazi Asset Management in January 2014. She is responsible for financial control and reporting, finance, broad-based black economic empowerment, and audit compliance.
Siyabonga joined Mazi in September 2015. He is responsible for fund accounting and reporting, client transition management, and overseeing Mazi's operational systems infrastructure.
Khumo joined Mazi Asset Management in March 2025. He joins us from SNG Grant Thornton, where he completed his articles in January 2025. He has 4 years of experience auditing companies in the financial services sector, providing valuable insights into regulatory compliance, risk management, and financial reporting.
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Joined Industry: 2015
Key Skills: Fund accounting and reporting, corporate actions, vendor and business partner management, multi-tasking.
Joined Mazi: 2015
Role & Responsibility: Maintaining portfolio books and records. Daily, monthly & quarterly client reporting. Managing the automated reporting process. Trade settlement for different asset classes across different markets. Corporate action processing.
