Financial services group sees record demand for fixed-income assets including securities such as bonds
Wealth management firm Anchor Group grew its funds under management by almost a fifth in 2019 despiteAnchor, which reported its full-year results to December on Friday, managed to grow its funds under management by 17% to R57.4bn. Adjusted headline earnings were down 9% to R69.4m for the period.
“Given the environment we’ve seen in the last six months and significant declines in the valuation of JSE stocks, as well as the trading capacity of clients, people have not been trading as much. The fact that they’ve managed to grow their assets under management by 17% is astonishing,” Clark said. It said net assets under management and administration grew by R8.47bn, including the R2bn contract termination for the deconsolidation of Astoria Investments.
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