GLOBAL - International fund research and fund-of-funds manager Forsyth Partners has opened its first office in South Africa.
Regional sales director Leo Wilde, who is moving from the firm’s Dubai office, will head up the new Cape Town office, Forsyth said in a release.
Commenting on the opening, Forsyth chief executive Paul Forsyth said: “We believe that the market in South Africa now offers some exciting opportunities. Legislative changes, including the new collective investment schemes law introduced two years ago and the building of a regulatory framework for hedge funds, provide a clear signal that South Africa is serious about building a soundly structured financial services environment.
“These moves are opening up new investment opportunities for South African investors who, of course, can invest part of their portfolios internationally.”
Wilde said Forsyth felt it was time to show “real commitment” with the establishment of a local presence.
He added: “In keeping with our approach elsewhere, our emphasis will be towards institutional investors, including pension funds, and financial intermediaries. We expect to develop some strategic partnerships.”
Forsyth plans to apply to register its funds for sale in the local market, the company said in a statement. It also plans to offer a series of discretionary managed products.
The new office adds to Forsyth’s established offices in the UK and Jersey, together with sales and marketing operations in Dubai and Hong Kong.
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