| Wed 30 Jul 2008, 14:56 | | DSY - Discovery Holdings Limited - News Release From Discovery Invest |
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DSY
DSY
DSY - Discovery Holdings Limited - News Release From Discovery Invest
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery" or "the company")
NEWS RELEASE FROM DISCOVERY INVEST
DISCOVERY INVEST DELIVERS ON PROMISES
- Investors protect themselves against inherent investment risks
Discovery Invest announced today it has passed the R1 billion mark of assets
under management.
Discovery`s investment business unit was launched in the fourth quarter of 2007,
quickly gaining a significant 11% share of the discretionary Linked Investment
Service Provider (LISP) market inflows for the quarter ended 31 March 2008.
"Client uptake has exceeded our expectations and reinforces our strategy of
giving investors access to a unique range of investment protections,
particularly in the current volatile markets", says Herschel Mayers, CEO of
Discovery Invest.
Investors who integrate their investments with an existing Discovery Life Plan
and engage in the Discovery Vitality Wellness programme are able to save on
administration and asset management fees on Discovery Invest Funds - in some
cases, they could pay zero administration and asset management fees.
"An encouraging trend is that investors are taking advantage of Discovery
Invest`s significantly reduced investment costs for Discovery Life Plan
policyholders, which will have a positive impact on the value of these
investments in the long term", says Mayers.
Given the risks and complexity associated with investment products, choosing the
right investment fund, the best asset manager and getting the timing right are
all daunting dilemmas for consumers especially in the current volatile market.
"We believe we have hit the nail on the head with our diversified product
portfolio where price and value are major differentiators. Our portfolios also
offer our clients superior hedging against market volatility and downside which
has proven very popular in these challenging times," Mayers added.
Discovery Invest believes it is protecting the hard-earned nest eggs of its
clients.
"We are adding value to their savings by taking taxes, administration fees and
asset manager fees out of the equation in some cases. If, for example, a client
has R100 000 to invest, already has a Discovery Life policy and is actively
engaged in the Vitality wellness programme, they could add up to R25 000 to
their investment over five years," Mayers said.
--ends---
Media enquiries Issued for
FD Beachhead Media & Investor Herschel Mayers
Relations CEO: Discovery Life and
Ravin Maharaj Invest
Chloe Webb
Sonja Malan
011 214 2400 011 529 2888
Discovery information
Discovery is an authorised financial services provider.
Discovery operates in healthcare cover and life insurance markets in South
Africa and the UK and launched Discovery Invest - its investment business - in
2007. Vitality, Discovery`s wellness programme, is the largest provider of
individual and corporate wellness initiatives in South Africa, also operating in
the UK and US. The company`s core purpose is to make people healthier, and to
enhance and protect their lives through financial products that clients need and
want.
Discovery Health
Discovery Health is South Africa`s largest healthcare funder and manager of
medical schemes. It covers over two million lives and manages 12 medical
schemes.
This includes the Discovery Health Medical Scheme, the country`s largest open
medical scheme and the only one to enjoy an AA rating for its claim paying
ability, the highest possible credit rating from international rating agency,
Global Credit Ratings.
Discovery Health pioneered consumer-driven healthcare in South Africa with the
introduction of innovations like the Medical Savings Account and its wellness
programme, Vitality.
Discovery Health was voted consumers` top medical aid brand in the Sunday Times
Markinor 2007 Top Brands survey.
Discovery Health was voted the top health product supplier at the 2008 Financial
Intermediaries` Association Awards.
Discovery Life
Discovery Life is South Africa`s fastest growing major life assurer, having
captured around 40% of the new business in the independent broker risk market
since its inception in 2000.
It was the first South African insurer to separate risk from investment, leading
a change in the environment that is projected to save consumers more than R5
billion by 2010.
Discovery Life received the SAFSIA 2007 award for the "Long-term insurer of the
year in risk products" category.
Discovery Life was voted the top risk and life assurance supplier at the 2008
Financial Intermediaries` Association Awards.
Discovery Invest
Discovery Invest combines the breadth and skill of the asset management industry
with the existing research and development capabilities of Discovery Life.
The company now offers consumers a unique and comprehensive product range that
addresses the current gaps in the market by offering greater protection against
poor investment choices.
In the short space of time that Discovery Invest has been launched, over 1 000
intermediaries have written business with Discovery Invest.
Discovery Vitality
Discovery Vitality is a science-based wellness programme that underpins each of
the Discovery businesses and is an international brand in its own right.
Vitality centres on encouraging healthy behaviours to reduce long-term
healthcare costs - an independent actuarial study by US firm, Milliman, shows
that Vitality members claim 40% less than their non-Vitality counterparts.
It is accredited by the Sports Science Institute of South Africa and more than
1, 2 million people currently belong to Vitality.
Vitality is available to Discovery Life and Discovery Health members, clients of
PruHealth and PruProtect and in the USA, is sold to large corporates and health
insurers as a stand-alone wellness offering.
Vitality rewards members for improving their health by giving them access to a
range of health and lifestyle benefits. Its value offering is further enhanced
by the DiscoveryCard, which gives members real cash back within a network of
retail partner stores.
Sandton
30 July 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 30/07/2008 14:56:01 Produced by the JSE SENS Department.
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