Total assets under management by black-owned fund managers has almost doubled over the past year, thanks largely to the restructuring of the Sanlam group to advance broad-based BEE imperatives.

The 13th annual BEE.conomics survey, a gauge of transformation in the asset management sector that is published annually by 27four Investment Managers, shows that total assets managed by black-owned firms surged to R1.15-trillion by June 30 2021, up from R667.8bn a year earlier. The jump was largely attributed to the inclusion of Sanlam Investments, which added R344bn to the overall assets under management (AUM) of firms in the sector defined as black-owned...

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