More asset manager consolidation ‘is inevitable’
Mergers and acquisitions will increase because the country’s low savings rate and stagnant economy cannot support the number of fund managers.
Asset Management
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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Momentum Metropolitan buys RMI Investment Managers from OUTsurance
The transaction will give MMH higher indirect shares in several boutique asset managers, including Truffle and Perpetua.
This is South Africa’s best asset manager of 2022, according to the Raging Bulls
All the companies and unit trust funds that won trophies and certificates this week.
Monday briefing: a round-up of recent financial services news
UT managers fight for market share | Coronation faces huge tax bill | MyMo accounts scandal | Insurance fraud | Discovery’s interim profits
Sanlam, Absa asset management transaction concluded
It creates a black-owned investment manager with more than R1 trillion in assets under management.
Satrix once again wins Morningstar award for best asset manager
For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance […]
‘Don’t look for themes or sectors – it’s all about stock-picking’
Financial advisers will have to manage investors’ expectations as the local market comes off a stellar 2021 and we enter the unfamiliar waters of higher global interest rates and quantitative tightening. Moneyweb recently […]
Coronation reports another year of net outflows
Coronation Fund Managers grew its assets under management (AUM) by 11% to R634 billion in the year to September 2021, from R569bn. However, it once again reported a net cash outflow of average […]
Absa to sell LISP business to Glacier as part of deal with Sanlam
Absa intends to sell its LISP business to Glacier by Sanlam as part of the overall transaction in which Sanlam Investment Holdings (SIH) will acquire Absa’s investment management business. In a SENS announcement, […]
Sanlam pushes assets managed by black-owned firms to R1.15 trillion
The inclusion of Sanlam Investments swelled the assets under management (AUM) of black-owned management companies to R1.15 trillion in June, from R667.8 billion in June last year. This is according to 27four Investment […]
Sanlam pushes assets managed by black-owned firms to R1.15 trillion
The inclusion of Sanlam Investments swelled the assets under management (AUM) of black-owned management companies to R1.15 trillion in June, from R667.8 billion in June last year. This is according to 27four Investment […]
Why Prudential is rebranding as M&G Investments
London-headquartered M&G plc has once again become the majority shareholder in Prudential Investment Managers. As part of Prudential’s reversion to being a subsidiary of M&G, it will be rebranded as M&G Investments before […]
