Africa

SOUTH AFRICA - Goldman Sachs Asset Management said it has been awarded three separate sub-advisory mandates by South Africa's RMB Asset Management over the past 15 months

UK/ SOUTH AFRICA - An Exeter grandmother has been denied a state pension even though she has paid tax all her working life.

SOUTH AFRICA - South African automation finance provider Fintech has securitised a portion of its office equipment lease portfolio, the first public securitisation of office equipment, with assets totalling R680m.

SOUTH AFRICA - The announcement that Aka Capital is acquiring a controlling stake in BOE Asset Management has accelerated the nascent trend towards empowerment in the South African asset management industry.

SOUTH AFRICA - Some 46% of South African organisations questioned in a recent survey have no official Aids policy, even though Aids is widely expected to have a serious impact on pensions. The Sanlam Employee Benefits 11th Biennial Survey of Retirement...

SOUTH AFRICA - Global financial services company Alexander Forbes has posted in interim profits from its European operation of Rand284m (£18m) - up 22% on last year.

SOUTH AFRICA - The vast majority of pension funds in South Africa would prefer an offshore allowance of at least double the current restriction, according to a new study into the international strategies of the SA pension fund industry undertaken by Wits...

SOUTH AFRICA - The R230bn ($23bn) Government Employees Pension Fund (GEPF) has appointed Nedbank, a subsidiary of Nedcor, and State Street Bank and Trust Company as its custodians.

OMAN - Bank Muscat and William M Mercer have teamed up to provide advisory and consulting services to pension funds in Oman.

SOUTH AFRICA - Financial services firm Wipcapital has acquired a 40% stake in specialist asset management firm, Futuregrowth, from RMB Asset Management, a division of FirstRand Bank. The holding was acquired for R20m ($1.8m).