STEPHEN CRANSTON: Making a prudent(ial) punt
Prudential Investment Managers is one of the crop of boutique managers that has grown more slowly than others but is now one of the larger players, with more than R200bn under management
Prudential Investment Managers is one of the crop of boutique managers, including Investec Asset Management and Coronation, that were launched in the early 1990s. It grew more slowly than others but is now one of the larger players, with more than R200bn under management. Its largest shareholder is Prudential Plc, but it has never been run as the investment division of a life office — management and staff have ultimate control. And the long-term performance has been strong; over 10 years its flagship Balanced Fund has returned 12.9% a year compared with the category average of 10%. Clients are served by the local team in Cape Town and global manager M&G Investments, one of the largest active managers in London.
At its main annual client conference this week, head of unit trusts Pieter Hugo made the case that even (or perhaps especially) after retirement, people should still invest in funds that are rich in growth assets such as equities and property. Prudential Balanced is abo...