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Sanlam Multi-Manager International acquires Coris Capital multi-manager business

16 October 2006 Sanlam Investment Management

Sanlam Multi-Manager International (SMMI) today announced it has acquired Coris Multi-Manager, a business unit of Coris Capital, a financial services company focusing on retirement fund administration and multi-asset management solutions.

The deal, completed in October, will enhance SMMIs institutional business book, while Coris Capitals clients will have access to a broader retail investment offering. The transaction will also increase SMMIs assets under management to over R90 billion and positions the business as the second biggest multi-manager in South Africa.

Commenting on the deal, Johan van der Merwe CEO of the Sanlam Investment Cluster said: This transaction is an excellent fit for SMMI. With this acquisition, we associate ourselves with a group of talented and highly competent investment professionals immersed in the same client-centric, active multi-management philosophy that is practiced at SMMI.

Coris Multi-Managers business operations will be renamed and integrated into SMMI.

Anet Ahern, CEO of SMMI, commented: We look forward to continue delivering excellent service as we seek to deliver an unparalleled multi-management experience to all our clients. We offer a complete range of solutions to clients ranging from consulted implementation for larger funds to fully discretionary products that offer a one-stop solution.

Chief Investment Officer of Coris Multi Manager, Pieter Viljoen, added, The deal is a logical step for both parties. As one of the leading multi-managers in South Africa, SMMI presents significant opportunities for Coris Multi-Manager clients, including an enhanced product and service offering and access to the considerable product range, intellectual capital, global reach and research capabilities of SMMI.

On the 8th of October, Coris Multi-Manager assets under management were in excess of R23 billion. Before the transaction, it was a business unit within Coris Capital, which itself is wholly owned by Coris Holdings.

In a related transaction, Sanlam Employee Benefits (SEB) has entered into a joint venture with Coris Capital. This transaction is expected to save SEB R50 million a year on pension fund administration and risk benefit administration.

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