Rand unit plans US$70m in South African asset- manager buys
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Johannesburg
RAND Merchant Insurance Holdings Ltd, an investor in South African insurance companies, intends to allocate about US$70 million to enable a unit to buy stakes in independent money-managers alongside plans for the division to build its own investment teams.
The resources for RMI Investment Managers will come from a 15 billion rand (S$1.5 billion) fundraising plan that its parent disclosed in October, the unit's chief executive officer, Chris Meyer, said on Tuesday in an interview in Johannesburg. The intention is to build businesses that can challenge the country's largest overseers of investor funds, he said.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
