Asset manager merger points the way
Sanlam-Absa move can give scale, better service and cut costs
10 October 2021 - 00:14
Analysts expect more consolidation in the local asset management industry as companies look for growth with a broader product mix amid increased competition from passive funds such as exchange traded funds.
This comes after insurer Sanlam and banking group Absa announced on Tuesday the merger of their investment management businesses to create a company with assets under management of more than R1-trillion, second after Ninety One...
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