About us | Overview
Cadiz Holdings has established itself as a leading specialist financial services group and offers a compelling investment case in an increasingly competitive sector.
Founded in 1993, the group specialises in research and trading in the equity derivatives and fixed income markets, quantitative research, stockbroking, prime broking, asset management and structured solutions for the corporate, institutional and retail markets. These activities are housed in two business units, namely Cadiz Securities & Structuring and Cadiz Asset & Wealth Management .
The Cadiz culture is distinctly entrepreneurial, where self-management, empowerment and accountability of individuals is encouraged. The people are all highly energised team players.
In 1998 Cadiz acquired District Securities Bank from Investec Bank in exchange for equity. This transaction was a defining moment in the group’s evolution and gave rise to the listing of Cadiz Holdings on the JSE in April 1999. The share offer was more than 130 times oversubscribed and the listing was one of the most successful ever on the JSE.
Cadiz aquired Prodigy-Coris Asset Management in 2003, a transaction that doubled the asset base of Cadiz at the time and provided a significant boost to the group’s asset management activities.
Cadiz entered the ranks of the top 10 fund managers in South Africa in late 2006 when it acquired African Harvest Fund Managers (AHFM) for R295 million. This acquisition trebled Cadiz’s assets under management. The African Harvest business has been successfully integrated into Cadiz and the enlarged fund management business has been rebranded as Cadiz Asset Management.
Cadiz leadership position in the derivatives market has been recognised in the authoritative Financial Mail analyst rankings, where the company has been rated as South Africa’s foremost derivatives research and dealing house for an unrivalled 14 consecutive years (Financial Mail Ranking The Analyst 2010).
Black equity ownership was introduced into the group in 2004 when empowerment group Makana Investment Corporation (MIC) acquired a strategic shareholding of 10% (currently 15%) in Cadiz. MIC is owned and controlled by the Makana Trust, an organisation established at the behest of Nelson Mandela to cater for the needs of former Robben Island prisoners and their dependants.
