| Fri 3 Aug 2001, 0:00 | | The Momentum Continues At Investment Solutions |
|
INVESTMENT SOLUTIONS HOLDINGS LIMITED
PRESS RELEASE
Friday August 3, 2001
Investment Solutions, the country's largest multi-manager with over R36-
billion of assets under management, is on track to achieve good earnings
growth again this year.
Speaking at the company's annual general meeting held in Sandton today,
chairman Peet van der Walt said that although conditions in the financial
markets remain turbulent, Investment Solutions' focus to deliver investment
solutions for its clients has been successful.
He told shareholders: "In line with the comments in the annual report,
Investment Solutions sees opportunities in the current volatile and
demanding market conditions. As a multi-manager, Investment Solutions
spreads investor's risk across a number of specialist asset managers which
are carefully selected for their style and expertise in various sectors. By
balancing one's investments across different asset classes, as a multi-
manager does, the investor obtains consistency as well as more predictable
returns."
He went on to say that in spite of its 55% increase in revenue to R311-
million and the 86% improvement in operating profit to R97-million for the
year to March 31 which created a far larger operating base, Investment
Solutions' results for the current financial year should again please
shareholders.
"While appropriate offshore acquisitions still remain elusive, our
management team is focussed on growing our business within South Africa and
we have made good progress in this area."
Please note:
Investment Solutions was listed on September 30, 1999 at an issue price of
220 cents a share. It closed at 260 cents on its first day of trading and
has traded up to 600 cents during the financial year, closing at 410 cents
on March 31.
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 R34,2-billion at
March 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.
Visit our website - www.investmentsolutions.co.za
ends
ISSUED BY: PENELOPE GRACIE INVESTOR RELATIONS
ON BEHALF OF: INVESTMENT SOLUTIONS HOLDINGS LIMITED
FURTHER INFORMATION: PENELOPE GRACIE
CONTACT: OFFICE +27 (11) 447-3301
MOBILE 082-55-77-444
