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m CUBED HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014568/06)
ISIN: ZAE000033353
Alpha code: MCU
("m Cubed")
m Cubed Holdings, South Africa`s largest listed independent multi-manager, has
increased its stake in leading traded endowment policy company Policy Exchange
(Polex).
The Competition Commission gave the deal the green light and m Cubed will
acquire a further 20% in the business, taking their stake to 70%.
"Polex management will retain 30% of the company," says m Cubed Holdings MD John
Storey. "We have the right to acquire the remaining 30% stake from management
during February 2005."
"The decision to take the first 50% in the business in November 2001, has been
vindicated. We have decided to take a controlling stake in the business because
it is doing so well. It is definitely a vote of confidence in the business, its
management and the business model," explains Storey.
Head of Polex, Nick Kruger says that there are exciting times ahead. "We are
extremely pleased that m Cubed has decided to take a greater interest in our
business and with our launch of our Traded Endowment Fund recently, we will grow
from strength to strength."
Ends/
Note to the editor:
Issued for m Cubed marketing communications by Channel Communications.
Contact Angelo Coppola for further information on 083-448-1008
Or
Contact Marie Hitzeroth for further information
mhitzeroth@mcubed.co.za
011-340-2300
About m Cubed Holdings
m Cubed Holdings Limited (m Cubed) is an independent, niche financial solutions
provider. It is listed on the JSE Securities Exchange in the Financials sector.
It specialises in multi-manager asset management, retail investments, structured
products and specialised investments, employee benefits and third party
administration outsourcing. m Cubed has assets under management of over R43bn.
It administers more than 200,000 client records with in excess of R52 billion in
third party assets.
The group has offices in Johannesburg, Pretoria, Cape Town, Durban, Port
Elizabeth, Bloemfontein and
the UK. The group`s key shareholders include PSG Group, Royal London Scottish
Life, management and staff.
m Cubed`s core business components include:
- Institutional multi-manager asset management
- Retail investments
- Structured products
- Local and international specialised investment and advisory services
- Administration outsourcing for third parties.
Multi-manager management
Multi-manager management is a quantitative investment approach that combines a
range of specialist portfolios managed by leading fund managers.
This creates highly controlled, risk-targeted multiple-manager portfolios that
cover the whole spectrum of financial planning and risk/return requirements.
Date: 16/01/2003 03:23:00 PM Produced by the JSE SENS Department
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