Board of Directors

John Oliphant – Executive Chairman

BSc (Actuarial Science & Mathematical Statistics), BSc(Hons) Advanced Mathematics of Finance, and MSc Finance (Economic Policy).

John joined All Weather Capital as a Non-Executive Chairman in September 2015 and was appoint as an Executive Chairman from August 2016. John is the former Principal Executive Officer (PEO) of the GEPF, the largest Pension Fund in Africa with assets north of (R1.2 trillion) US$120billion. He was the key driver behind GEPF's leading investment policies and strategy. John worked closely with the board, he managed to double the assets of the GEPF in less than 5 years, during the toughest economic environment in recent history. John also served on a number of key strategic industry initiatives including being a member of PRI Advisory council and Chairman of CRISA. John helped establish the Code for Responsible Investing in South Africa (CRISA), which is hailed as one of the best in the world, this lead him to winning the, “Industry Person of the year” in financial services in 2012. He was also recognised by the Mail and Guardian as one of the Top 200 young South Africans in 2012 for his contribution in the world of Pensions. In 2013 he was named Africa's Top Emerging leader by Africa Investor.


Fulu Makwetla- Non-Executive Director

BCom Econometrics and BCom (Hons) Economics

Fulu joined All Weather Capital as a Non-Executive Director in August 2016. Fulu is a Founding Partner and the Managing Director of 3rd Way Investment Partners, a multi-discipline investment boutique, currently raising its Infrastructure Debt Fund of Funds. She was previously the Investment Manager of the Government Employees Pension Fund - the largest Pension Fund in Africa, with assets of more than R1.6 trillion (USD135bn), representing the retirement interest of 1.2 million members and over 360 000 pensioners. She was responsible for managing the Private Equity portfolio of funds (Fund of funds) for the GEPF as well as the overall GEPF portfolio of investments. She served on the Investment Committee of the Pan African Infrastructure Development Fund I, the largest infrastructure fund in Africa, and represented the GEPF on the advisory boards of the Africa Development Partners II and the South Suez Fund II. Prior to joining GEPF, Fulu was on the RisCura Executive Committee and was a Senior Consultant, Consulting to Pension Funds and Medical schemes in Southern Africa. She also worked for RMB Asset Management and has over 13 years of experience in the industry. Fulu is a well-known figure in the Southern African pension fund industry.


Shane Watkins – Chief Investment Officer

B.Bus.Sc (finance); PGDA, CA (SA); CFA

Shane is an Executive Director and the CIO of All Weather Capital. After qualifying as a Chartered Accountant he began his investment career at Liberty Asset Management in 1995 as an investment analyst and progressed to be a Senior Fund Manager, managing a Unit Trust, some third party pension funds and eventually the main life fund of the Liberty Group. Thereafter he spent 3 years as a Director of Corporate Finance at UBS Warburg before moving to Peregrine Capital as a Director. After 7 years at Peregrine Capital he started his own business now called All Weather Capital.


Terence Naidu - Non-executive Director

BComm (Investment Management)

Terence joined All Weather Capital as a Non-Executive Director in September 2015. Terence is the founder and CEO Envisionit Group of Companies (Capital Solutions; Investments; Stock Lending Solutions -Scrip Lending joint venture with Sanlam Capital Markets, first independent empowered securities lending business in SA and Envisionit Lifestyle Group). 13 years in financial services (specifically asset management/ hedge funds and securities lending related). Founder and Trustee of the Envisionit Bursary Foundation. Previous roles include Co-Head of Sanlam Prime Services, Head of operations – Peregrine Capital; Executive Member South African Scrip Lending Association (SASLA); Nominated EY 2015 Entrepreneur of the year – Southern Africa; speaker and panellist Wharton University’s Africa Conference 2013, featured in the 2013/ 14 ABSIP Black Book Financial services game changers.