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The future

19 December 2004 Angelo Coppola

Futuregrowth Asset Management has been named South Africa’s Most Progressive Company by the Association of Black Securities & Investment Professionals (ABSIP).

At ABSIP’s Annual Financial Awards 2004, Futuregrowth director Wayne van der Vent received the award from Modise Motloba, former ABSIP president.

While the awards recognised a number of pioneering individuals, Futuregrowth, a specialist asset manager, received the only company award given at the event.

It is the third year running that ABSIP has made the awards. “We have an ongoing quest to promote and recognize black pioneers and young guns in the financial services sector,” said Kennedy Bungane, ABSIP president.

Quick Polls

QUESTION

The asset management industry is seeing significant consolidation, with large players gaining more influence. What’s your view on the number of asset managers and DFMs trading in SA presently?

ANSWER

Let market forces hold sway.
More mergers could limit choice.
Too few, competition benefits clients.
Too many, hence the consolidation.
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