SPECIALIST investment manager Stanlib grew its assets under management to R652 million in the year to June, helped by it reinvigorating its offerings to clients and credible fund performance over the years.
Chief executive Derrick Msibi said yesterday the resounding result boosted the group’s confidence in being responsible custodians of its clients’ investments.
“Stanlib remains financially resilient and well positioned to deliver on its strategic long-term goals. Our approach remains dynamic yet prudent, and we continue to invest in the business to improve the client service experience and ensure continued investment performance,” he said.
Msibi said the group welcomed the recent announcement offer from Standard Bank to buy out the minority shareholders of Liberty Holdings, which represented a natural progression in the strong and high-value relationship with the banking group.
In the year to June, Stanlib, a subsidiary of Liberty Holdings, recorded headline earnings of R242m, up from R226m in the 2020 financial year, while net fee income grew to R936m from R839m in the previous year.
External net client cash flows, however, dipped from R14.7 billion to R12.8bn.
BUSINESS REPORT ONLINE