STEPHEN CRANSTON: Ashburton realises it’s time for the big guns
The retail client base was virtually ignored when RMB Asset Management was the group investment house
After seven years most would agree that Ashburton Investments has not delivered the quality results we have come to expect from the FirstRand Group. We don’t know for sure, as its numbers are not separately disclosed, but it probably remains in the red.
It was a curious decision for Ashburton to adopt the brand of a small shop it had bought in Jersey instead of reviving the RMB Asset Management brand. The old Ashburton depended on a few ageing private clients and it did not have an institutionally recognised investment process.