PSG Konsult defies a challenging year
The group posts double-digit increases in recurring headline earnings per share and assets under management
PSG Konsult continues to defy market conditions, posting double-digit increases in recurring headline earnings per share and assets under management in a challenging year for financial services businesses. The group, which owns an advisory, asset management and insurance business, had actively engaged with its clients during the course of the year, said CEO Francois Gouws. "Given the undulating economic conditions, you have to stay close to your clients," Gouws said. PSG Konsult’s recurring headline earnings per share climbed 16% to 43c over the year to February 2018. Total assets under management grew 17% to R205bn, as the group continued to grow its adviser force, which now numbers 784 across wealth and insurance. Asset managers have battled to grow funds and stem outflows in the weak economy, as cash-strapped South Africans withdraw savings and generally save less. In this environment, PSG Konsult recorded nearly R20bn in net inflows across its wealth and asset management busines...