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Sunday, August 1, 2010
Simply better

The PSG Group has embarked on a major restructuring process to streamline the holding company of its various asset management businesses, PSG Fund Management. The aim is to provide for a focused and simplified asset management business and to pave the way for future growth opportunities.

PSG Fund Management to date followed a strategy of growing various asset management boutique teams, independently from one another. This structure is now to be abridged for more focus. The key executives that will drive the process are Ross Breedt who will head the marketing and sales, Adrian Clayton equity centric asset management, JP Matthews fixed interest and hedge fund asset management, Rene Miles the retail investment platform with Mike Smith as chief operating officer of the whole combined business.
Making the announcement, Jaap du Toit, PSG Fund Management chairman and co-founder of PSG Group, said PSG Fund Management has now reached critical mass with assets of more than R24 billion under administration and close to R12 billion under management.
“To realise opportunities for future growth we now need a more focused approach to benefit from synergies that have developed from these very successful boutique businesses. This will entail a simplified product range with a specifically branded PSG range of funds, clearly differentiated business units and combined research capabilities.
“The restructure of PSG Fund Management is in line with the Group’s strategy for growth and is a concerted effort to create a significant player in the domestic asset management industry,” Du Toit said.
Breedt said investors want simplicity, not unwieldy products where complexity and brand confusion weakens the impact. The key is a simple and easily understandable range of products. PSG Fund Management distributes its products to various independent financial advisors and to the financial advisors of PSG Konsult, PSG Group’s own independent financial advisor force. Through this, the Group has acquired a retail asset base of approximately R96 billion, which is managed largely by various external asset managers.
 

Copyright © Insurance Times and Investments® Vol:23.8 1st August, 2010
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