ON THE SPOT
Sygnia CEO goes fishing in UK waters in hope of landing a whale of a deal
Business Day asks Sygnia CEO and founder Magda Wierzycka whether going offshore was such a good idea
Asset management upstart Sygnia has announced the terms of a R160m rights offer to help fund its recent acquisition of the popular DBX tracker exchange-traded funds (ETFs).
The company is also eyeing expansion into the UK, despite scepticism among investors that it will be hard-pressed to grow where leviathans like Vanguard dominate.
Business Day asked CEO and founder Magda Wierzycka whether going offshore was such a good idea. The expansion into the UK is not about ETF expansion unless it’s in the more interesting space like our fourth industrial revolution global equity fund, which is unique. The reason the UK market is interesting is because the regulatory environment is very similar to that of SA. The other thing is that there is a huge drive by the regulators to try and lower the cost of financial services provision. The second point is that just like in the US, there is an emergence of a whole lot of fintech start-ups … and all of those companies are finding a very receptive audience. The world is shifting away from these established brands … so what I’m looking at is a LISP [linked investment service provider] platform and the robo adviser market and mobile banking … using the technologies we have developed in SA to infuse that in a platform business with an established entrepreneurial team. I now have a ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.