10X’s first chapter began in 2007 with a vision of empowering investors to achieve long-term retirement goals through competitively-priced, goal-aligned investment solutions. When I joined, the company was already a known disruptor, having made a mark with its innovative approach to retirement solutions and direct-to-consumer investments. The firm had experienced strong growth and was recognised in South Africa as a trusted, credible investment manager known for high-quality investments at competitive prices.
By 2021, it became clear that if 10X truly wanted to make a difference in the South African investment landscape, there was more to be done. That realisation led to a complete strategic reset, and the start of what we call ‘10X Chapter 2.’ It wasn’t just about expanding; it was about redefining 10X. With a new executive team and fresh energy, 10X made a bold move — acquiring CoreShares in 2022 and subsequently building out our financial intermediaries channel. Now, almost two years later, we’ve grown from R20bn to over R50bn in assets under management. And I can say with confidence that our commitment to empowering advisers with high-quality, competitively-priced solutions has never been stronger.
The business has firmly established an identity and proposition for financial advisers, DFMs and multi managers. 10X has a range of unit trusts available on LISPs and investment platforms at wholesale pricing designed specifically for this market, and concurrently continues to grow the innovative range of JSE-listed 10X ETFs and AMETFs used by wealth managers and portfolio managers in personal share portfolios.
The first actively-managed ETF
10X listed the first actively-managed ETF on the JSE in May 2023, and was thereby also the first issuer to bring a comprehensive, managed income solution to market in listed format (the 10X Income AMETF, share code INCOME), and later, also brought the first ‘self-indexed’ AMETF to market (the 10X All Asia AMETF, share come APACXJ).
A partner for advisers
In recent years, the total fees that end investors pay have faced significant scrutiny both globally and locally. 10X believes that advisers play an important role, from tax advice to withdrawal strategies and behavioural coaching, to name but a few. That is why, when faced with fee pressure, 10X believes that advisers should include an allocation to lower fee funds to bring down the overall costs to their end clients. This enables advisers to continue with valuable face-to-face interaction with their clients and thereby retain their advice fees. Reducing fund fees offers a simple and effective solution to address fee pressures and enhance investor returns.
Alongside the low-cost single asset index funds used by DFMs and multi managers as building blocks in the solutions that they create, 10X offers a range of multi-asset solutions which are designed to deliver target returns with the highest degree of confidence and the lowest amount of risk, consistently and repeatedly through time. These solutions enable advisers to help their clients remain invested, avoid switching costs and achieve their long-term investment goals.
As someone who has worked closely with advisers throughout this journey, I’ve seen first-hand the impact they can have on their clients’ lives — especially when they’re equipped with the right tools and solutions. At 10X, we’re proud to be that partner, offering low-cost, high-quality funds that help advisers do what they do best: guide their clients towards a secure financial future. It is a privilege to support advisers in this role, and I am excited about our continued achievements as we navigate this new chapter together.