Investment excellence: how Raging Bull Award winners achieve exceptional returns

The 30th Raging Bull Awards will be held on Friday at the CTICC, celebrating the best unit trust funds in the investment industry. Ahead of the ceremony, previous winners reflected on how the accolade has shaped their businesses and strategies.

Citadel: South African Manager of the Year 2025

Citadel Asset Management was named South African Manager of the Year at the 2025 Raging Bull Awards, a recognition that came during a period of global uncertainty. The firm’s disciplined approach to risk and its long-term investment philosophy set it apart from competitors.

Chief investment officer George Herman says the company’s strength lies in its ability to ignore short-term market noise: “We look beyond immediate cycles. Our role is to stay invested in our long-term strategy, which gives us stability in an increasingly volatile world.”

Citadel’s focus on resilience and consistency has been central to its success. Analysts note that the firm’s ability to seize opportunities created by volatility, while maintaining a risk-adjusted approach to returns, distinguished it in a challenging investment environment.

Winning the award reinforced Citadel’s reputation for excellence and strengthened investor trust. CEO Andrew Möller describes the accolade as validation of the firm’s client-first culture: “Our reputation for professionalism and prioritising clients is our greatest competitive advantage.”

According to the group, the recognition has translated into tangible results, with Citadel reporting a 99% client retention rate. Market observers say the award has also enhanced the firm’s visibility, positioning it as a resilient, values-driven leader.

Herman adds that lessons from the award-winning period continue to shape the firm’s strategy: “Our investment process is linked to global macro fundamentals and asset class valuations. We keep emotions out of the picture, adjusting our strategy with the future in mind.”

The Citadel team, with over 270 years of collective experience, remains guided by principles of diversification, valuation sensitivity, and asset allocation. As Möller puts it: “When a client’s financial future is secure, their legacy is secure.”

M&G Property Fund: Contrarian Conviction (the fund has won numerous Raging Bull Awards)

Portfolio managers Yusuf Mowlana and Rahgib Davids of the M&G Property Fund attribute their success to conviction and contrarian thinking. The team often invested where others hesitated, looking past prevailing market narratives when these did not align with their fundamental views.

“We were willing to act with conviction when opportunities presented themselves,” Mowlana explains. “That contrarian approach, backed by rigorous research, allowed us to invest when others were cautious.”

The managers employ an equity mindset when assessing real estate companies, recognising that equity returns can deviate from underlying asset performance due to capital structures and allocation decisions. This deeper analysis has been critical to stock selection.

According to Davids, receiving a Raging Bull Award was a significant milestone for the team. Davids says the recognition underscores their commitment to a repeatable process: “While awards are an honour, our focus remains on delivering superior outcomes for clients over the long term.”

Mowlana says position sizing has been another lesson carried forward. Mowlana cites investor Stanley Druckenmiller: “It’s not whether you’re right or wrong; it’s about how much you make when you’re right and how much you lose when you’re wrong.”

The managers believe the Raging Bull Awards contribute to raising standards in the industry by celebrating excellence and accountability. “It’s a testament to our stock-picking ability and our willingness to take measured risks,” Davids says.

For emerging fund managers, their advice is straightforward: focus on clients. “Performance comes from diligent analysis and understanding company fundamentals,” Mowlana notes. “There is no substitute for hard work in equity analysis, and when done with rigour, it can lead to exceptional results.”

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