"A company with strong leadership and a participative management style."
 


 

An Authorised Financial Services Provider

Absa Asset Management (Proprietary) Limited (Registration No. 1997/017903/07) is an Authorised Financial Services Provider licensed by the Financial Services Board in terms of section 8 of the Financial and Advisory and Intermediary Services Act No. 37 of 2002.

Our investment professionals representatives are approved by the Financial Services Board and must comply with fit and proper requirements with respect to:

  • personal character qualities of honesty and integrity.
  • qualification and experience required by the Fit and Proper provisions.
A "representative" means any person who renders a financial service to a client for or on behalf of a financial services provider (Absa Asset Management), in terms of conditions of employment or any other mandatory agreement.

A representative excludes a person rendering clerical, technical, administrative, legal, accounting or other service in a subsidiary or subordinate capacity, which service:-
  • does not require judgment on the part of the latter person.
  • does not lead a client to any specific transaction in respect of a financial product in response to general enquiries.
 
 

Custody and administration of securities

Our preferred custodian is ABSA Investor Services, a division of ABSA Bank Limited.

All assets managed by Absa Asset Management, on behalf of the client, are registered and kept by a central depository company established in terms of the Custody and Administration of Securities Act No. 85 of 1992. Although the assets are registered in a nominee name, beneficial ownership remains with the client. All monies received in connection with the management of investments are credited to a separate bank account opened in the name of the client. Our asset and portfolio administration function is outsourced to JP Morgan Administration Services (Pty) Limited (Registration No. 1999/024400/07). JP Morgan Administration Services (Pty) Limited is a JP Morgan Group company that specialises in outsourced administration.
 
 

Auditors

The external auditors of Absa Asset Management are Ernst & Young. Deloitte and Touché provide internal audit services.
 
 

Mandates, client reporting, fees, termination conditions

Absa Asset Management's relationship with the client is determined by a portfolio management agreement which is approved by the Financial Services Board. Individual client requirements are accommodated in the appendices of this agreement and are usually in respect of the trading restrictions, inclusion limits, investment universe benchmark and fees.

We manage large portfolios both verbal and written, and are tailored according to the requirements of the client. Our segregated portfolio management service applies to portfolios of over R50 million and, while the fee is dependent on the nature of the mandate, starts at 0.5% (excl. VAT) per annum, applied to the market value of the portfolio. A sliding fee scale applies to larger portfolios. Performance fees will be considered for the appropriate mandate. We offer various pooled products for amounts below R50 million.


[Disclaimer] Absa Asset Management (Pty) Limited (Registration No. 1997/017903/07). All rights reserved.