Rajay, founder of Excelsia Capital, has more than 20 years' financial services experience and 14 years' investment experience with African Harvest Fund Managers, Cadiz, Prudential Portfolio Managers and Investec Asset Management. He was a Senior Audit Manager at KPMG prior to joining African Harvest in 2003 as an equity analyst. As an analyst he covered various sectors of the market including IT, Media, Telecoms, Diversified Industrials and Life Insurance. He was appointed a portfolio manager in 2007. His portfolio management experience has ranged from relative value (Cadiz and Prudential) to deep value (Investec). At Investec he co-managed the Value franchise together with John Biccard for five years until 2015. He left Investec in March 2015 to establish Excelsia Capital. At the time of his departure from Investec, the Value franchise had approximately R35 billion under management.

The fund is a domestic equity fund that invests in listed equities on the JSE which the portfolio manager deems to be undervalued relative to the fund's benchmark.
Stocks are selected based on a bottom-up fundamental valuation based philosophy and are included in the fund when they appear attractive relative to our assessment of intrinsic value. Taking cognisance of business cycles and formulating a view on normalised earnings for each business forms a critical part of the assessment.
Suitable for investors with medium to long term investment horizon.