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Sanlam Private Wealth Africa
opens office in Mauritius
Sanlam Private Wealth
Aug 25, 2017
SPW Africa will follow the well-established Sanlam Group footprint across the continent, in partnership with Sanlam’s existing partners in several African countries, including Kenya, Zimbabwe, Zambia, Namibia and Botswana.
Mauritius will form the hub of SPW Africa’s expansion strategy – consisting of SPW Mauritius, focusing on wealth management, and Summit Trust Mauritius, offering multi-jurisdictional fiduciary and tax advice and services to private clients, and a range of company administration services to the corporate market. Summit Trust Mauritius was established in 2012 and has over the past five years enjoyed significant success and growth.
At the official opening of the SPW Mauritius offices in Labourdonnais Village last week, Sanlam Private Wealth CEO Daniël Kriel said the company’s expansion formed part of a drive to extend its offering to clients at the top end of the market across the continent. It’s also consistent with the Sanlam Group’s international strategy, which primarily focuses on emerging markets.
The event was attended by over 100 guests, including representatives of both Mauritian and South African companies, Sanlam’s partners in Namibia, Zimbabwe and Zambia, and local socialites. The guests of honour were the Deputy Prime Minister of Mauritius, Mr Ivan Collendavelloo, and South Africa’s High Commissioner to Mauritius, HRH Princess Zenani Mandela-Dlamini.
‘Through our Mauritian operations, private clients in African countries will now have access to a range of international investment and wealth management solutions,’ Daniël said. This includes access to Sanlam’s global investment capabilities – and the UK-based SPW Global High Quality Fund, named the winner in the Best Fund category of the City of London Wealth Management Awards earlier this year.
SPW Africa Managing Director Shane Tremeer said the objective was to build a network of wealth management businesses and distribution partners across Africa. ‘We aim to meet the needs of private clients and their families in African countries, by providing world-class advice and integrated onshore-offshore wealth management solutions.
‘Increased demand for offshore services by our South African client base will also be addressed by the products and services now offered by our operations in Mauritius – a more affordable jurisdiction than the traditional European jurisdiction.’
Daniël said SPW had decided on Mauritius as the ‘hub’ for SPW Africa as the country is a stable democracy and well developed, with a respected legal framework and state institutions. ‘The Mauritian government has created an internationally recognised regulatory framework, and the country’s focus on developing the financial services sector has resulted in a highly skilled talent pool.’
Mr Collendavelloo welcomed SPW to Mauritius. He said private wealth management is a very promising sector in Mauritius, which is the preferred wealth management centre for Africa. ‘SPW’s presence here bears testimony to the confidence and trust the company attaches to Mauritius as a jurisdiction of choice. We wish SPW a successful venture,’ he said.
Daniël said the expansion of SPW Africa was mutually beneficial in that it would provide Sanlam Private Wealth with new opportunities on the continent, while simultaneously offering high net worth private clients in the countries concerned world-class solutions from a leading Africa-based, multinational financial services company. ‘Sanlam’s reputation and strong brand in Africa is an obvious advantage, and we are delighted at the chance of extending our offering in these new markets.’
Sanlam Private Wealth manages a comprehensive range of multi-asset (balanced) and equity portfolios across different risk categories.
Our team of world-class professionals can design a personalised offshore investment strategy to help diversify your portfolio.
Our customised Shariah portfolios combine our investment expertise with the wisdom of an independent Shariah board comprising senior Ulama.
We collaborate with third-party providers to offer collective investments, private equity, hedge funds and structured products.
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Sanlam Private Wealth (Pty) Ltd, registration number 2000/023234/07, is a licensed Financial Services Provider (FSP 37473), a registered Credit Provider (NCRCP1867) and a member of the Johannesburg Stock Exchange (‘SPW’).
All reasonable steps have been taken to ensure that the information on this website is accurate. The information does not constitute financial advice as contemplated in terms of FAIS. Professional financial advice should always be sought before making an investment decision.
Participation in Sanlam Private Wealth Portfolios is a medium to long-term investment. The value of portfolios is subject to fluctuation and past performance is not a guide to future performance. Calculations are based on a lump sum investment with gross income reinvested on the ex-dividend date. The net of fee calculation assumes a 1.15% annual management charge and total trading costs of 1% (both inclusive of VAT) on the actual portfolio turnover. Actual investment performance will differ based on the fees applicable, the actual investment date and the date of reinvestment of income. A schedule of fees and maximum commissions is available upon request.
COLLECTIVE INVESTMENT SCHEMES
The Sanlam Group is a full member of the Association for Savings and Investment SA. Collective investment schemes are generally medium to long-term investments. Past performance is not a guide to future performance, and the value of investments / units / unit trusts may go down as well as up. A schedule of fees and charges and maximum commissions is available on request from the manager, Sanlam Collective Investments (RF) Pty Ltd, a registered and approved manager in collective investment schemes in securities (‘Manager’).
Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. The manager does not provide any guarantee either with respect to the capital or the return of a portfolio. Collective investments are calculated on a net asset value basis, which is the total market value of all assets in a portfolio including any income accruals and less any deductible expenses such as audit fees, brokerage and service fees. Actual investment performance of a portfolio and an investor will differ depending on the initial fees applicable, the actual investment date, date of reinvestment of income and dividend withholding tax. Forward pricing is used.
The performance of portfolios depend on the underlying assets and variable market factors. Performance is based on NAV to NAV calculations with income reinvestments done on the ex-dividend date. Portfolios may invest in other unit trusts which levy their own fees and may result is a higher fee structure for Sanlam Private Wealth’s portfolios.
All portfolio options presented are approved collective investment schemes in terms of Collective Investment Schemes Control Act, No. 45 of 2002. Funds may from time to time invest in foreign countries and may have risks regarding liquidity, the repatriation of funds, political and macroeconomic situations, foreign exchange, tax, settlement, and the availability of information. The manager may close any portfolio to new investors in order to ensure efficient management according to applicable mandates.
The management of portfolios may be outsourced to financial services providers authorised in terms of FAIS.
TREATING CUSTOMERS FAIRLY (TCF)
As a business, Sanlam Private Wealth is committed to the principles of TCF, practicing a specific business philosophy that is based on client-centricity and treating customers fairly. Clients can be confident that TCF is central to what Sanlam Private Wealth does and can be reassured that Sanlam Private Wealth has a holistic wealth management product offering that is tailored to clients’ needs, and service that is of a professional standard.