| Fri 15 Jun 2001, 0:00 | | Investment Solutions Invests In Securities Lending |
|
Johannesburg - Friday June 15, 2001
The country's leading multi-manager, Investment Solutions Holdings Limited
has acquired a 51% interest in Equip Securities Consultants (Pty) Ltd
(Equip), a niche provider of securities related services.
Equip will form the base from which Investment Solutions will expand its
securities lending activities.
Investment Solutions is investing R2-million in initial capital in the
business and will make a further payment after the first year of operation,
based on the first year's profits.
Launched in March by Carol Ford and Paul Nogueira, Equip focuses
specifically on the securities lending and custodial services markets. Ms
Ford, Equip's chief executive, is the current chairman of the Securities
Lending Forum and previously ran the securities lending divisions of both
SCMB and ABSA.
Others in the team include Chris Powell, Yvonne Mahomed and Andrew
Nicholson, who pioneered the securities lending industry in South Africa in
the early nineties.
Equip will extend Investment Solutions' securities lending capability and
develop and implement innovative electronic securities lending solutions for
market players. In addition, says Ms Ford, Equip aims to establish a web
portal that will provide securities-related information and industry survey
details. The portal will be complemented by on-the-ground consulting in
conjunction with Alexander Forbes which holds a controlling interest in
Investment Solutions.
Investment Solutions' managing director Rael Gordon commented that with
around R35-billion in assets under management securities lending was a
natural opportunity for the group and its clients.
"The securities industry is currently undergoing dramatic change with the
STRATE initiative to dematerialise the stock of companies listed on the JSE
Securities Exchange SA. In this environment, a gap was identified for a
niche player advising institutions on how best to re-position their
businesses in the new electronic environment. We turned to the best in the
industry and we are pleased that Equip will be driving our securities
lending activities."
Carol Ford added: "We are all delighted to have the backing of an extremely
influential player in the securities industry. What this deal does is enable
us to do more of what we had planned, sooner than we had anticipated."
Please note:
Investment Solutions through its wholly owned subsidiary, Investment
Solutions Limited, operates a multi-manager business targeting institutional
funds and the private investor.
It is the largest provider of multi-manager investment portfolios in the
South African market, with total assets under management of R35-billion at
January 31, 2001.
A comprehensive and defined investment process, utilising a skilled and
committed investment team and experienced investment committee, leads to the
creation of portfolios designed to optimise the risk return profile of
clients. Institutional funds access the multi-manager portfolios through
linked investment policies written by the group's life company.
The private investor can access the multi-manager portfolios and a range of
unit trusts through a wide range of savings products and investment
portfolios, including retirement savings investment products, such as living
annuities, preservation funds, retirement annuities and umbrella pension
finds as well as discretionary savings products, such as endowment polices,
unit trusts and wrap funds.
Investment Solutions uses its proven expertise to research, select, monitor
and review the asset managers it appoints to manage its portfolios.
Investment Solutions operates independently and has no ties to any of the
asset managers.
Investment Solutions has established a strategic alliance with the Frank
Russell Company, the world's leading multi-manager company, which enables
Investment Solutions to accelerate the development of its global business
and international product offerings to South African clients.
ends
ISSUED BY : PENELOPE GRACIE INVESTOR RELATIONS
ON BEHALF OF : INVESTMENT SOLUTIONS HOLDINGS LIMITED
FURTHER INFORMATION : PENELOPE GRACIE
CONTACT : OFFICE +27 (11) 447-3301
HOME +27 (11) 442-6674
MOBILE 082-55-77-444
