PSG Konsult optimistic about SA despite lower trade volumes
Although its biggest unit struggled with lower trade volumes, PSG Konsult remains exceptionally upbeat
While many financial services firms are panicking from poor economic indicators locally and are therefore moving funds offshore, PSG Konsult says it will focus on its home market. Although its biggest unit, PSG Wealth, struggled with lower trade volumes than usual, PSG Konsult said it remained exceptionally optimistic about SA and would not turn offshore for better performance. The financial services group, with operations including wealth management, asset management and short-term insurance, reported an 18% rise in headline earnings for the six months to August 2018. But its wealth business had a decline in trade volume and earnings rose only 7% increase, compared with the average of 18% achieved in the past five years. The division offers individuals and businesses a platform to directly trade shares and other securities, among other things.
PSG Konsult CEO Francois Gouws said it was a difficult equity market, but the company increasing its total assets under management 19%...