Edward West
13 November 2009
Johannesburg — FINANCIAL services group Sanlam said yesterday it had done two new international investment management deals -- an acquisition in the UK and the formation of a new asset manager in Asia.
Sanlam International Investment Partners (SIIP) MD Hendrik Pfaff said these developments were in line with the objective of expanding the group's global asset management footprint through direct investment in specialist investment management businesses in specific regions. SIIP manages international assets and funds to the value of 4,4bn.
An investment was done in partnership with UK investment manager FOUR Capital Partners, with Sanlam taking an initial equity interest of 29,9% for an undisclosed sum.
"We identified and met more than 100 specialist asset management businesses over the past 12 months in centres such as London, Sydney and Singapore. We are very specific (on) the qualities we look for from a business. An important criterion is the retention of a strong management ownership structure that allows its investment partners the required autonomy to ... drive their businesses and investment performance delivery," Pfaff said.
Its investment philosophy is grounded in an intrinsic value approach, involving in-depth fundamental research and analysis on stocks, and entailing a rigorous, team-based selection process.
SIIP had also established an Australian-based specialist Asia Pacific funds manager, Eight Investment Partners .
Its strategy will include Asia and Australian equities, allowing for investment by both onshore and offshore clients.
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