Alexander Forbes ready to pounce on distressed companies
SA’s largest pension fund administrator declares a special dividend
08 June 2020 - 20:17
SA’s largest pension fund administrator, Alexander Forbes, which is sitting on nearly R4bn in cash, is ready to pounce on distressed companies, a rare sight in corporate SA as firms focus on building their cash buffers to withstand the coronavirus economic shock.
The company, which counts Patrice Motsepe-backed African Rainbow Capital as a major shareholder, is forging ahead with a strategy reset aimed at sharpening its focus on pension and wealth management after selling its capital-heavy insurance business in 2019...
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