The Merchant West Value fund, a top-performing fund in South Africa, has undergone a leadership transition with Piet Viljoen stepping away from day-to-day management. However, Viljoen remains an important contributor to decision-making within the fund. Brian Pyle, the Chief Investment Officer of Merchant West, has taken over as the lead manager of the fund since the beginning of this year. Pyle and Viljoen share a similar research philosophy and process, and Pyle regularly consults with Viljoen on fund decisions. This collaboration ensures that Viljoen's valuable insights continue to benefit the portfolio [52f5a56c].