Motor Industry Retirement Fund

Motor Industry Retirement Fund

The Motor Industry Retirement Fund was founded in 1952 to serve employees in the motor industry retail sector. It functions as a multi-fund structure governed by a Board of Trustees that includes representatives from NUMSA, MISA, RMI and FRA. Japhtaline Mantuka Maisela serves as chairperson. The fund deploys capital across listed South African equities, inflation-linked bonds, direct real estate and private market commitments. Confirmed holdings include positions in the Sesfikile BCI Property Fund and mandates with Allan Gray, Coronation, Ninety One and Sanlam. It maintains exposure to Sanari Capital, Ditiro Fund I, African Development Partners III and the Everstrong Kenya Infrastructure Fund. Geographic reach centers on South Africa with additional allocations to pan-African infrastructure and private equity. Assets total $2.3 billion. The fund employs Motor Industry Fund Administrators as long-term administrator and retains RisCura as investment consultant since 2010. It maintains membership in Batseta, ASISA and the Asset Owners Forum South Africa. In December 2025 the fund participated as a speaker at SuperReturn Africa on private equity and infrastructure allocation. Governance rests with a multi-stakeholder Board of Trustees that incorporates union and employer representatives. This structure channels contributions collected by the Motor Industry Bargaining Council and enforces adherence to the Code for Responsible Investing in South Africa.