Magda Wierzycka, Magnus Heystek on SA’s major Eskom crisis, Bitcoin, ESG and clickbait, fake news about Magda

Many South Africans have applauded President Cyril Ramaphosa for announcing steps to fix the country’s electricity crisis, but two of South Africa’s leading lights in the investment industry warn that his moves signal a deeper problem. Sygnia executive chair Magda Wierzycka, one of South Africa’s most successful asset management entrepreneurs, and Magnus Heystek – founder of the flourishing investment firm Brenthurst Wealth Management – share their views on some of the big news developments this week. Wierzycka reveals how much of the news carried in the mainstream media this week about her and her company is riddled with errors and distorted as she has become ‘clickbait’. Listen in on the conversation, with BizNews editor-at-large Jackie Cameron.

Magda Wierzycka on Bitcoin: 

I’m not a believer that Bitcoin has a place in a well-structured investment strategy. If you invest 1% to 2% of your portfolio that is plenty for a normal strategy. There are a lot of young investors, in their 20s who want to play in that space and are playing in that space in a very unregulated manner. We thought that having a Bitcoin ETF would give these types of investors a credible product. We’ve got a lot of demand from the young investors for a Bitcoin ETF.

Magnus Heystek on Sygnia’s funds: 

The cost of Sygnia funds is significantly lower compared to the three large giants (Allan Gray, Coronation, NinetyOne), if the average investor had to see the difference in costs they would be hugely upset about it. Magda came with innovative and clear transparency and has upset a very comfortable and cosy club (referring to the active managers named above).

Magda Wierzycka on returning to Sygnia as Executive Chair: 

I’m not coming back to Sygnia cause I never left. In terms of JSE Listings Requirements when a decision is made at board level as significant as the CEO stepping down, we have 40 hours to put that on SENS to inform the market. When I communicated the news there was confusion whether I could immediately gravitate into the position of chair. There was legal confusion and we were actually given the wrong advice. It was always my intention to step into the position of chair.

Read also: 

• Magnus Heystek on Eskom – when will this nightmare end?
• Sygnia founder Magda Wierzycka going head-to-head with Cathie Wood’s ARK innovation fund
• Sygnia’s Magda Wierzycka opens up on departure as CEO