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Maree sprints ahead in the empowerment raceSYDNEY MAREE
AT 4.30am every morning Sydney Maree goes for a 21km run. To most, the idea is unthinkable. Not so for a former 1 500m world-record holder, and remarkably still the American record holder. Maree says the time is used constructively, to clear his head and prepare for another long day. Not a bad idea for someone who is clocking up directorships at a pace and is at the helm of one of SA's newest asset management firms. Maree returned to SA in 1995 after an 18-year stay in the US. He transferred to Johannesburg from the New York offices of Fleming Martin, and last year formed Franklin Zamani in partnership with one of the world's largest asset managers, the Franklin Templeton Group. His target market is institutional at present and he sees the fund management field changing dramatically in coming years - largely because trustees are becoming much more vocal and selective. This is especially so in parastatals, which he says "don't want the traditional asset manager managing so much of their money anymore. They are demanding more emerging managers." Franklin Zamani is one of a group of emerging fund managers such as Infiniti, Oasis and Prodigy which are looking to capitalise on a perceived gap in the market. The firm, of which he is CEO, is targeting assets under management of some R2- to R3-billion in the next 18 months and, apart from turning a profit, will be looking to promote black economic empowerment. Maree says the firm's Templeton ties are an important driver of the business, but also offer an opportunity for skills transfer. He says the firm may go it alone further down the line. Franklin Zamani is currently in talks with black empowerment concerns about them taking a stake in the business. Maree has also recently taken on the role of non-executive chairman of Nimbus Holdings, and is a director of Conshu and West Rand Cons. He sees Nimbus as a trailblazer, targeting SA's mass emerging market with some 64 brands. There are possibilities for acquisitions once the current businesses are consolidated. Nimbus houses six manufacturing companies, a distribution company and a chain of specialist cash and carry outlets. Group companies are Canon Candy, Poco Foods, Chico's Ice Creams, Ideal Meats, Sugarbird Sweets, Oasis Breweries, ABC Sweets and Tropicana Distributors. Maree sees great potential for young South Africans looking to get started in running businesses, however small, and can draw on his own experience of selling apples on Atteridgeville trains as a teenager to make ends meet. He is also a director of youth business development organisation Inroads. Nimbus plans to expand a programme at ABC where vendors are given stock up-front to sell on. The one-off package is enough to create working capital to generate further sales. In Tropicana, plans are also under way to extend its owner-driver distribution set-up. Maree says these projects are contributors to empowerment.
As a fund manager Maree knows that the food sector is much less fashionable than the current huge IT and financial services appetite. But he believes the sector, some 20% down this year, will pick up - especially if the right markets are catered for. He sees two major factors driving SA business in coming years - the globalisation of the local market and moves to black economic empowerment. "We must face it. Previously disadvantaged people have not had opportunities. At Franklin Zamani we aim to create an enabling environment." He says the firm is in the process of selling a new fund in the US and expects interest from investors looking to put something back into SA. The Southern African fund will invest 80% in listed instruments but the rest will go to development projects. Maree is married to Lisa and they have five children - runners all. Andrew Gill
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