PIC appoints Kabelo Rikhotso as its investment chief.
By Lehlohonolo Lehana.
The Public Investment Corporation (PIC) has announced the appointment of Kabelo Rikhotso as its new Chief Investment Officer (CIO).
The corporation in a statement said Rikhotso will join the PIC from Visio Fund Management, where he was an Executive and Fund Manager.
With more than 18 years of experience in the asset management industry, the PIC said Rikhotso is a dynamic leader and pioneer, who founded the first black-owned investment firm, Royal Investment Managers, in March 2016.
At the PIC, Rikhotso will oversee the institution's overall investment strategy; monitor and review all investment decisions, and develop the outlook and asset allocation function, in line with the investment mandates of the PIC’s clients.
He will assume duty on 10 May 2022.
Rikhotso's appointment in the role is the first CIO appointment since the position was reintroduced in 2019 by the then interim PIC board which was at the time led by Dr Reuel Khoza.
In the statement, PIC Chief Executive, Abel Sithole, welcomed Rikhotso's appointment.
"We are confident that with his experience, initially at National Treasury and later at some of the country’s leading investment firms, Rikhotso will bring new rigour to strengthen our executive team. His core function will be to sustain the PIC's investment performance and continue growing the portfolios of our clients.”
Rikhotso has held a number of executive and non-executive directorships. His academic qualifications include a BSc (Mathematical, Physical and Statistical Sciences), BCom Honours (Financial Analysis and Portfolio Management), M.Com (Financial Economics) and Chartered Financial Analyst from the CFA Institute in the USA.