Decusatio Investor Comms is passionate about understanding the communications landscape, and it is always valuable to engage with stakeholders, helping shape the future of the financial ecosystem.
As part of this, we regularly engage with platforms and communities, building investment knowledge and market participation from the ground up.
One such platform is the University of Johannesburg Investment Society — a student-led non-profit organisation focused on equipping students with the skills, knowledge and networking opportunities required to succeed in the financial world.
The society has built a dynamic and inclusive community of students passionate about finance and investing, bringing together individuals from a wide range of academic backgrounds.
In an increasingly complex financial environment, theoretical knowledge alone is no longer enough to prepare students for careers in finance. The UJ Investment Society is helping bridge that gap by giving students practical exposure to capital markets before they enter the professional world.
To better understand the society’s growth, investment philosophy and approach to student engagement, we spoke to Craig Tapeni, president of the society.
In the discussion below, he shares insights into the organisation’s origins, investment thinking and how the society is preparing students for the realities of modern investing.
The Origins of the UJ Investment Society
Disclaimer: The views expressed below are those of Craig Tapeni and do not reflect the views of the University of Johannesburg.
Can you tell us about the history of the Investment Society and what you do?
The Investment Society was founded in 2024.
It started as informal, late-night debates among finance students discussing markets and investment ideas. From there, the founders identified an opportunity to build a broader community within the university — one bringing together students passionate about capital markets and investing.
The society’s core mandate is to give students real exposure to financial markets before they enter the professional world.
According to Tapeni, some early members have already gone on to secure roles at institutions such as Deutsche Bank and Rand Merchant Bank as investment banking analysts.
The society also maintains a diverse membership base across multiple faculties at UJ. While finance students form part of the community, members also come from fields including humanities, statistics, computer science and architecture.
Anyone interested in understanding how markets work is welcome.
How the UJ Investment Society Builds Awareness
How does the Investment Society attract members?
Tapeni explains that there was already a strong underlying interest among students looking for a market-focused community.
The team initially worked within university structures to formalise the society and then promoted it directly to finance students through lecture visits and classroom engagements.
Recruitment efforts also included:
- Word-of-mouth promotion across campus networks
- Social media engagement
- Flyer distribution
- Support from the Department of Finance and Investment Management
The department played an important role in helping the society establish credibility and visibility among students.
For organisations involved in financial education and market participation, initiatives like these highlight the importance of building investment communities early — particularly in South Africa, where improving financial literacy and market participation remains an ongoing priority.
Mock Portfolios and Real-World Investing Exposure
Do members actively manage real money?
At an individual level, many members manage their own investments.
As a society, however, the UJ Investment Society currently operates through mock portfolios rather than live pooled capital.
The objective is to create a consequence-free environment where students can build confidence while still replicating real-world investing conditions as closely as possible.
Members engage in:
- Portfolio construction
- Stock selection
- Portfolio rebalancing
- Performance analysis
- Investment thesis development
The society uses real-time market data to simulate professional investment management processes.
According to Tapeni, the long-term goal is to establish a student-led investment fund supported by proper governance and oversight structures.
What Drives Student Participation in Investing?
What motivates students to join?
Tapeni identifies three key drivers behind participation in the UJ Investment Society:
Intellectual Stimulation
Financial markets combine multiple disciplines, including psychology, economics and corporate strategy. This complexity attracts intellectually curious students.
Career Differentiation
Many finance roles require practical experience, yet students often struggle to gain exposure early in their careers.
The society aims to bridge that gap by allowing students to:
- Build portfolios
- Develop investment theses
- Defend investment ideas
- Engage with market frameworks
Mentorship and Community
Peer-to-peer learning remains a major part of the society’s culture.
Members also engage with alumni and industry professionals, helping students build relationships and networks before entering the workplace.
This reflects a broader shift toward more practical, experience-led financial education — an area becoming increasingly important within the South African investment ecosystem.
Active Investing, ETFs and Market Exposure
Do members focus only on equities?
The society’s primary focus is active, bottom-up equity investing.
Members analyse businesses through:
- Financial statements
- Valuation models
- Competitive positioning
- Management quality assessments
However, the society also incorporates passive investment instruments such as ETFs.
These instruments are used as benchmarks and as part of broader portfolio construction discussions, particularly around asset allocation.
Understanding when to adopt active versus passive strategies forms an important part of the learning process.
Views on Actively Managed ETFs
What are your thoughts on actively managed ETFs?
Tapeni notes that the society follows actively managed ETFs closely due to their combination of relatively low-cost structures and active management strategies.
Globally, the asset class has experienced significant growth.
However, the society approaches the trend with nuance rather than outright enthusiasm.
While actively managed ETFs may offer improvements over traditional active funds, many active managers still struggle to outperform benchmarks consistently after fees.
For example, actively managed ETFs often carry total expense ratios significantly higher than passive ETFs.
For those higher fees to be justified, managers need to generate sustainable alpha over time.
The society therefore, views active ETFs as important case studies in product design and portfolio management rather than automatic investment solutions.
JSE vs International Markets
Does the society focus only on the JSE?
While the Johannesburg Stock Exchange remains the society’s home market, members also analyse global exchanges and international investment opportunities.
The society studies markets, including:
- The London Stock Exchange
- The New York Stock Exchange
- NASDAQ
- Germany’s DAX
This broader perspective helps students understand global market dynamics and diversify their investment thinking.
For South African investors and future finance professionals, this type of global exposure is becoming increasingly important in a highly interconnected financial system.
Where Students Source Investment Insights
Where do members source research and insights?
The UJ Investment Society uses a multi-layered research approach combining quantitative and qualitative analysis.
Primary research sources include:
- Integrated annual reports
- SENS announcements
- Earnings presentations
- Management commentary
Members also analyse macroeconomic data from organisations, including:
- Statistics South Africa
- The IMF
- The World Bank
- Bloomberg
Additional research sources include:
- Sell-side research from investment banks
- Investment frameworks and valuation methodologies
- Publications such as Business Day, Moneyweb, the Financial Times and the Wall Street Journal
The society also considers customer sentiment and broader market behaviour where relevant.
Which Companies Communicate Well With Investors?
Which businesses stand out for investor communication?
Tapeni identifies Capitec and Nedbank as strong examples of effective investor communication.
Both companies present strategy and financial information clearly while maintaining consistency and transparency in their messaging.
Internationally, Berkshire Hathaway stands out due to the clarity of shareholder letters and annual meetings led by Warren Buffett.
Similarly, shareholder communications from JPMorgan Chase, particularly those authored by Jamie Dimon, provide useful perspectives on broader economic and market dynamics.
For businesses operating in increasingly competitive capital markets, strong investor communication remains a critical differentiator.
A Broader Shift Toward Practical Financial Education
According to Craig Tapeni, the UJ Investment Society reflects a broader movement toward practical, experience-led financial education; one focused not just on knowledge, but on application, confidence and critical thinking.
By creating an environment where students engage with real market dynamics, the society is helping prepare a more informed and investment-aware generation of future professionals.
At Decusatio, we recognise the importance of initiatives like these in strengthening South Africa’s broader financial ecosystem, particularly at a time when improving market participation and financial literacy remains increasingly important.
As part of our work in investor communications, equity reporting and stakeholder engagement, we continue to engage with organisations and platforms helping shape the future of financial markets in South Africa.
If you are part of a student body, investment initiative or financial platform looking to elevate your voice within the market, we encourage you to connect with us. Whether through leadership, strategic communications, or collaborative platforms, there is value in sharing perspectives that drive the industry forward.