November 11, 2019 / 2:29 PM / a month ago

Founder of South African asset manager Allan Gray dies at 81

JOHANNESBURG, Nov 11 (Reuters) - Allan Gray, founder of the $33 billion South African asset management firm that carries his name, died on Sunday aged 81, the firm said in statement on Monday.

“It is with deep sadness that we share the news of the death of Allan William Buchanan Gray on 10 November, 2019, of natural causes,” the statement said.

Gray gained an MBA from Harvard in 1960s and founded the Cape Town-based multi-asset firm in 1973, building it into one of the country’s top money managers with operations across Africa, in the United States, Hong Kong, and the United Kingdom.

$1 = 14.8839 rand Reporting by Mfuneko Toyana; Editing by Jan Harvey

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