FNZ, the international wealth-tech platform and administrator to the asset management industry, has acquired local unit trust administration and technology service provider Silica from Ninety One for an undisclosed sum to enable its SA expansion.

The Edinburgh-based company, which is responsible for more than €700bn (R12.8-trillion) in assets under management, purchased 100% of Silica from Ninety One, which founded the business in 1999 when it was still known as Investec Asset Management...

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