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April 27, 2010updated 04 Apr 2017 3:54pm

Investec takes control of Rensburg Sheppards

Listed South African banking group Investec has agreed to take full control of private client investment management and stockbroking subsidiary Rensburg Sheppards.

By PBI Editorial

Listed South African banking group Investec has agreed to take full control of private client investment management and stockbroking subsidiary Rensburg Sheppards.

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Investec previously had a 47% interest in Rensburg Sheppards, which will become part of Investec’s private client activities division.

Investec’s assets under management rose 50% to £43.4bn ($66.7bn) in 2009, while net fund inflows exceeded £4.5bn.  Rensburg Sheppards had funds under management of £12.3bn at 31 December 2009.

Investec said earlier this month that its British, European and Australian businesses were expected to post a rise in full-year operating profits, while profit at its South African unit was expected to fall as defaults continued to rise.

Schroders Investment Management and BlackRock Investment Management, which held stakes of almost 8% and 3 per cent respectively, have agreed to the deal.

Investec said its current plans for Rensburg Sheppards did not involve any material change in its executive management team, operating structure or commercial offering.

Commenting on the offer, Investec chief executive Stephen Koseff said Rensburg Sheppards had been a good investment for Investec over the past few years and the proposal was the natural next step for both businesses.

Investec managing director Bernard Kantor said the transaction was consistent with its strategy of growing its asset management and private client platforms.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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