We had the pleasure of speaking with Ricco Friedrich, executive director and portfolio manager at Cape Town-based Denker Capital, recently.
In the interview, Ricco talked about his background and path in investing. He discussed the investment approach of Denker Capital as well as lessons learned from his extensive experience investing in smaller public companies.
Listen to the conversation (recorded on July 23, 2020):
About the interviewee:
Ricco Friedrich manages the Denker SCI Equity Fund and Denker SCI SA Equity Fund with Claude van Cuyck. He completed his articles at Grant Thornton in 1998, where after he started his investment career at Franklin Asset Management as an equity analyst. In 1999 Ricco joined Sanlam Investments where he spent two years analysing industrial stocks before taking up the position of Head of Small Caps in 2001. In 2006 Ricco received the Sanlam CEO Award for building the small cap franchise, which grew to assets under management of over R2.5 billion. The same year, Ricco took over the management of the Sanlam Investment Management (SIM) Value Fund, now the Denker SCI Equity Fund. Ricco also set up an unconstrained equity product at Sanlam Investments in 2007 which, under his management, grew to a peak of R10 billion. In addition to managing the equity fund and product, he was a member of a model portfolio group responsible for the construction of Sanlam’s house view portfolios from 2007 to 2011. He founded SIM Unconstrained Capital Partners in 2011 with Claude, which later merged with SIM Global to form Denker Capital. While under his management, the Sanlam Small Cap Fund won two Raging Bull awards and two Standard & Poor’s fund awards.
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