Absa Investments hits the R100 billion mark

Absa Investments, the asset management and investment services arm of the Absa Group, has announced that assets under management and administration have surged past R100 billion.

"This is an important milestone and one that positions Absa Investments as a major South African investment house", says Managing Executive Alan Miller.

Absa Investments came into being in its present form during 2006. The group comprises six separate companies, each a specialist in its field. The six are:

* Absa Asset Management, the institutional asset manager;
* Absa Fund Managers, management company of Absas unit trusts;
* Absa Investment Management Services ("AIMS"), which offers multi-management, investment advisory services and an open-architecture LISP administration platform for clients and intermediaries;
* Absa Portfolio Managers, which manages portfolios for private clients and trusts, as well as specialised portfolios for companies and smaller institutions;
* Absa Stockbrokers, which offers telephone and online share trading services; and
* Absa Mortgage Fund Managers, manager of the Absa Participation Bond Fund and provider of loan finance to the commercial property market.
 
Absa Investments services a wide spectrum of investors, retail and wholesale, Absa and non-Absa clients. As Miller puts it, "At one end of the scale, we have clients investing R100 a month in one of our unit trusts. At the other, our minimum mandate at Absa Asset Management is R50 million per portfolio. We have expertise in abundance and its working to the benefit of our clients.

Miller says that gross assets under management are considerably more than R100 billion, but the net figure is after stripping out assets managed on behalf of sister companies.

"For example, Abam manages a major portion of our unit trust portfolios, including the R50 billion Absa Money Market Fund, and AIMS places some of its clients funds in Absa products. The R100 billion is a net figure.

"Absa Investments is the best kept investment secret in South Africa. We're proud of what we've achieved so far, but this is only the beginning. With the expertise weve built up and the backing of the Barclays Group, a leader in global investment management, we're well on our way, " adds Miller.