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Sygnia, the asset manager cofounded by Magda Wierzycka, says growth in its retail client base helped with a record financial performance in its half-year to end-March, and while it suffered R9.2bn in net institutional outflows, the picture has improved a little for SA's saving industry.

The bulk of the outflow was related to the loss of a single hefty contract that CEO David Hufton told Business Day was of little concern in terms of profit, as it was a low-margin contract that had been cancelled, not moved to a competitor...

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