Efficient Group merges with Cape Town asset managers
A new asset management company, Efficient Financial Holdings, has been formed by the merger of the following companies on 1 September 2007:
The Efficient Group (Pty) Ltd,
FH Financial Services (Cape Town) (Pty) Ltd,
Valugro Capital (Pty) ltd,
Multigro Capital (Pty) Ltd and
FH Financial Services (EB) (Pty) Ltd.
The latter four companies have been in an alliance before the merger. Efficient Financial Holdings will have offices in both Cape Town and Pretoria. The asset management team will operate from Cape Town while marketing, economic research and administration will be based in Pretoria.
The key individuals and role-players in Efficient Financial Holdings are:
1. Heiko Weidhase, previously the managing director of the Efficient Group, has been appointed as the managing director of the new company. Heiko has been instrumental in the merger of the companies.
2. Brett Bishop, previously managing director of Valugro, has been appointed director and will head up the funds division. Brett has received wide recognition for his asset management skills which, amongst others, includes a Raging Bull award for his management of the ABSA Flexible Fund in 2007. Brett and his team will continue to service their existing PKF Cape Town investment clients on an unchanged basis.
3. Harold Hopking, previously managing director of FH Financial Services, has been appointed as director of the new company and will be in charge of the funds of funds division. Harold currently manages various ABSA funds of funds. Harold and his team will continue to service their existing PKF Cape Town investment clients on an unchanged basis.
4. Charles Snyman, previously the chief investment officer of the Efficient Group, has been appointed as director of the new company. Charles will head up the third asset management leg with responsibility for managed accounts, money market funds and institutional asset management.
5. Dawie Roodt, previously chairman and chief economist of the Efficient Group has been appointed as a director and chief economist of the new company. Dawie is a well known economist and radio and television presenter.
6. Philip Craib, previously a director at the Efficient Group, will join Harold Hopking as funds of funds manager.
Efficient Financial Holdings will exploit the synergies of the various companies to the benefit of our clients and shareholders. The new company will be able to grow assets under management supported by the benefit of a robust and award winning asset management team. All our investors will continue to enjoy our formidable administration which is available throughout South Africa. Our present and future business associates and clients may expect better levels of service and, over time, see the benefit of a strengthened asset management team.
The Efficient Group also announced that Hugo Snyman has resigned as director, but in future Hugo will provide various services to the company on a contract basis. Reginald Labuschagne has provisionally been appointed as marketing manager.
Efficient Financial Holdings is the combination of excellence in both asset management and administration. We shall be able to offer present and future investors, individuals and institutions, bespoke, unitised and fund of funds investment products that satisfy a range of risk and return requirements, as we have in the past.
