(Namibian Business Digest July 2008 - By Gretha du Plessis)
“The core purpose of Namibia Asset Management is to guard and grow the money entrusted to us. We’ve lived this purpose for the last 12 years.”
This is how Ben Bertolini, CEO of Namibia Asset Management (NAM) responds when asked about their business activities. “Ours is a 24-hour business model. If they’re unhappy with our performance today, they can end the relationship tomorrow if they want to.”
This is one of the core reasons why NAM’s management team (Ben Bertolini, Cornell Karsten and Josephine Shiyagaya), takes so much pride in servicing clients to the best of their ability. “We have an internal policy that turn-around time is critical. If a client has a request or problem, immediate action is required. There’s no such thing as an unimportant or low priority request from a client.”
NAM was established in 1996 as one of the first asset management companies in Namibia. However, it differs from other local asset managers: some local companies function as satellite offices or branches to South African affiliates. In this regard NAM is unique, being a totally independent entity, outsourcing investment and stock market analysis to Coronation Fund Management in South Africa. Coronation is a shareholder in NAM, contributing their technical and analytical expertise. This independent nature adds value to the NAM client service offering, enabling nimble decision-making to adapt to Namibian needs and conditions. “NAM aspires to be a truly Namibian asset manager, offering good returns, integrity and peace of mind to clients with minimal dependence on South African resources.”
The conversation turns to staff management. A trait that is highly prized within company walls is humility, so-much-so that Ben, on our initial introduction, describes himself as ‘Chief Dishwasher’. “We value humility. We have an in-house initiation where new employees are asked to wash the dishes – we then gauge the reaction. In fact, each employee, including management, has regular turns to wash the dishes!”
But NAM’s emphasis on humility has a serious purpose, especially within an industry that has a reputation for arrogance. “There is such a fine line between confidence and arrogance. You may make excellent predictions for two or three financial terms, and then you start to think that you can walk on water… But the stock exchange is a tough task master, and can bring you down to earth very harshly!”
When asked about this perception, Ben ventures an explanation: “I think it’s because asset management deals with the future; the ability to make predictions. All other financial sectors deal with the past. It also attracts extremely bright – even brilliant – individuals. It attracts the intellectual elite of the financial world. As a consequence, people view it as an elitist industry, and its participants might think the same.”
However, the ups and downs of the industry have a way of keeping everyone at NAM sensible and aware of their fallibility: “We’ve been in situations where client expectations weren’t managed properly, with disastrous consequences. In such instances, we’ve had to swallow our pride and take responsibility for our actions, with us taking the financial hit. But this is how we choose to operate. You have to face the brutal facts, and not lose faith. This is how we’ve managed to weather serious setbacks.”
The same support is given to staff members. “As a manager, one should always remember that you are dealing with human beings. At the office, we chat about life; we philosophise; we take the hits of life and help each other to deal with it. We address ignorance. It makes us better people. People who work here are made to feel a sense of belonging.
And this same sense of belonging, it seems, is reserved for their clients.
