Fund managers make unprecedented call for probe of Resilient share price
The move could mark a turning point for corporate governance in SA
The country’s largest investment managers have written to the Resilient group of companies, demanding an investigation into allegations of share-price manipulation, which cost investors more than R120bn.
The asset management firms, which collectively manage trillions of rand on behalf of millions of investors, include the Public Investment Corporation (PIC), which looks after R2-trillion on behalf of government workers, as well as household names Allan Gray, Coronation, Old Mutual, Investec, Stanlib, Sanlam and Prudential.
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