Category Retirement
SUB CATEGORIES Annuties |  General |  Savings & Investments | 

Absa AM salutes SA savers as R10 bn milestone is reached

21 July 2011 Absa Asset Management

Absa Asset Management, investment arm of the Absa financial services group, today (Thursday 21 July) saluted the savers of South Africa for helping to take the firm’s absolute return assets under management to the R10 billion mark and said the milestone was an encouraging sign as Savings Month (July) draws to a close.

Institutional investments are underpinned by man-in-the-street savings, said Absa Asset Management’s chief investment officer, Errol Shear.

He added: “We don’t think South Africans are feckless and foolish with money. Most salary- and wage-earners strive to save. When they do manage to create disposable income and save, it is important to preserve that money from loss while combating inflation.”

“Our asset growth is an indication that you will get the support of South African savers when you demonstrate that you understand the pressures they face and your responsibility to minimise risk and maximise real returns.”

Absa Asset Management has achieved a 5000% increase in absolute return assets off a base of R200m in 2008. The firm is positioned as a value investor committed to long-term growth without undue risk.

Its Absolute Return Fund has become the flagship of the range by seeking annual growth of 4% above inflation, while striving to protect the client’s savings.

Shear noted: “We’re proud that South African savers have entrusted us with R10 billion of their savings. Trust brings responsibility.”

“We abhor loss. We’re not great users of derivatives because of the chance of hidden risk. We’re happy this approach finds favour with so many South Africans and hope savers will continue to place long-term trust in our funds and our approach.”

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