Investing for the Future

Palmyra Asset Management is a fund manager that invests money on behalf of its institutional and individual clients.
With an experienced and focused investment team, Palmyra enriches its clients’ lives and compounds their wealth over time.

Our Investment Aim

Palmyra’s objective is to grow all assets allocated to the team in real, inflation-beating terms over the long-term and to ensure protection from any permanent capital loss.
Palmyra Asset Management invest in good quality businesses at the right price level, which significantly reduces the potential for any permanent capital loss.

Investment Approach

We identify opportunities through a top down bottom-up fundamental investment process.

1. Know the business

  • We invest in businesses that we have researched and therefore know well.
  • We don’t invest in businesses with excessive financial leverage
  • We don't invest in businesses where there are major concerns around management

2. Know the price

  • We appraise what the business is worth in a worst-case scenario
  • We don’t overpay for an investment

3. Know the correct weighting

  • We don't over extend a position
  • We limit the weight of any investment that we believe to have a higher risk

4. Know the investment case

We only invest if there is a margin of safety

All investments carry some degree of risk, but at Palmyra we only invest if there is an adequate margin of safety built into our own valuations.

Buying good businesses with shareholder-oriented managers and low financial risk when valuations are attractive.

Thinking and acting like long-term business owners, in a market focused on the short-term.

Our Team

Executive Team

Ian Kilbride

Chairman

 

Read More

Ian Kilbride is an experienced international businessman and the Chairman of Spirit Invest the parent company of Cadiz. He brings to the Cadiz Board over thirty-five years of experience within financial services, working for both listed and unlisted companies and adding value as either Chairman, Chief Executive or non-executive director.

Adrian Meager

MD and CIO

 

Read More

Adrian is the Managing Director and Chief Investment Officer of Cadiz Asset Management and a member of the Spirit Group EXCO.

Prior to joining Cadiz, he was employed at Momentum and has gained international experience at Lloyds of London. Adrian has extensive knowledge and experience in the wealth management industry and has been actively involved in financial services for over 22 years, he has been actively managing portfolios since 2006.

Adrian joined Warwick Wealth in 2006, initially as an Investment Specialist and was later appointed as Regional Manager of Cape Town. He has subsequently held several key positions within Warwick, becoming the Managing Director of Warwick Private Clients and Head of Asset Management. In 2016 he was appointed as the Managing Director of Warwick Asset Management where he remains a Key Individual and approved asset manager.

With the Spirit Group’s acquisition of Cadiz Asset Management in May 2018, Adrian was appointed as the Managing Director of Cadiz Asset Management.

Tiaan Meyer

Chief Financial Officer

 

Read More

Tiaan is the Chief Financial Officer of Cadiz and a member of Cadiz EXCO. Tiaan graduated from the University of Stellenbosch and qualified as a Chartered Accountant in 2012. He started his career as an auditor where he gained valuable exposure across various industries ranging from small investment firms to JSE listed companies.

Before joining Cadiz Tiaan spent five years at Woolworths in the Corporate Finance division, first as Group Accountant and subsequently moved into the Africa division where he played an integral part in growing the business across the continent. Tiaan has a wealth of experience when it comes to dealing with IFRS and Taxation.

He joined Spirit Invest in 2015 where he started as the Head of Finance. Tiaan was promoted to Financial Director of Spirit Invest at the beginning of 2017.

Ryan Magee

Chief Operations Officer

 

Read More

Ryan is a proud and loyal matriculant of Wynberg Boys’ High School. He is a University of Cape Town alumnus from where he holds multiple degrees, from an undergraduate BSocSci LOPHRM, a BSocSci Honours degree in Change Management and a Master’s degree (MSocSc) in Organisational Psychology. He has held a range of important managerial positions within the Group, leading to his promotion as Chief Operating Officer. With this depth and range of experience and understanding, Ryan is ideally positioned to lead operations with the Group.