Independent Thinking
We are not tethered to a house view or to legacy positioning. Every idea is examined on its own merits, and we are willing to reach a different conclusion to the market.
About Us
An independent manager, built deliberately.
The Firm
Fixed income and credit at centre stage.
Vachellia Investments was conceived by Lethabo Leoka, whose career spans almost 20 years covering fixed income and credit markets in investment management as well as investment banking. His vision was to establish an investments boutique where fixed income and credit investing would take centre stage, rather than being overshadowed by other asset classes, as is common with many incumbent asset managers.
He has since been joined by Magugu Ntubuzi and Koketso Setshogoe, two talented young professionals specialising in fixed income and credit assets, respectively.
Our ambition is straightforward: to challenge the established players in this corner of the South African market by doing the analytical work properly and holding ourselves to the highest standards in how we invest, while staying small enough to act quickly and decisively.
Our Name
A commitment to enduring value is reflected in our name.
Vachellia Investments is named after the Vachellia family of African trees, formerly known as acacias. Known for their resilience, deep roots and ability to thrive in challenging environments, these trees embody the qualities that define our investment approach: patience, discipline and a long-term perspective.
Our Values
What we hold ourselves to.
- Integrity
- Our clients and counterparties can trust us, because we say what we mean and do what we say.
- Excellence
- We aim to be thorough and diligent in our analysis of the market and transactions, as well as in our construction of portfolios.
- Innovation
- We understand that the market does not need another investment house that replicates established strategies, and offers traditional portfolios.
- Resilience
- We are not interested in chasing the latest investment trend, or taking advantage of the current cycle. We aim to develop repeatable investment strategies that our clients can rely on over any time horizon.
- Responsibility
- We understand our responsibility to our future clients, but also to the society in which we operate.
BEE Profile
Ownership and transformation.
Vachellia Investments is a 100% black-owned firm and a B-BBEE Exempted Micro-Enterprise.
Ownership
100% black-owned
B-BBEE status
Exempted Micro-Enterprise
Why Vachellia
Six reasons institutions look at us differently.
Institutional Expertise
Our experience was built inside large, well-established managers. We bring that discipline, process and governance with us, without inheriting the inertia.
Disciplined Risk Management
Risk is budgeted before it is taken. Position sizing, liquidity and drawdown parameters are agreed in advance, not renegotiated in the middle of a difficult market.
Research-Driven Process
Primary research, our own credit models and direct engagement with issuers sit behind every position. Nothing enters a portfolio on someone else’s conviction.
African Market Expertise
We understand the issuers, the regulation and the liquidity realities of South African credit, and we apply the same lens, carefully, to selected markets elsewhere on the continent.
Long-Term Value Creation
We invest to compound through cycles, and we build the business alongside clients who measure us the same way. Prudence and ambition are not in tension here.
Contact Us
Speak to our team.
For enquiries about our fixed income and credit capabilities, write to us directly and we will get back to you.