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During the year to date local markets have outperformed offshore markets by 13% in rand terms.
Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc says that assets under management for the group at the end of the third quarter of 2004, increased 3.1% in the quarter.
After a whippy day on Thursday, the rand traded range bound on Friday, shrugging off foreign trade data released in the early afternoon.
The second stage of the deal is formalized and now a more broad-based shareholding grouping in the BEE consortium in ABSA is announced, although Tokyo Sexwale maintains a 7% interest, with Leslie Maasdorp and Ntobi Angel sharing 7%.
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