Sanlam Investment Management (SIM) is set to buy or merge with a competitor in a bid to create a black-controlled asset manager that would be SA's largest, ahead of market leaders such as Coronation and Investec Asset Management (IAM).

Speculation in the market is that SIM could merge with Absa's asset management business in a deal that could also include Alexander Forbes, completing the package of black-empowerment transactions that Sanlam and Patrice Motsepe's African Rainbow Capital (ARC) announced more than a year ago.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now