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Cape Town - Pan-African financial services group Imara has taken a 49% stake in a joint venture with Lusaka-based asset management company Equity Capital
Resources, as it aims to drive its strategy for growth
into Zambia’s asset management industry.
The joint venture – Imara ECR Asset Management Limited – will focus on asset management for institutional investors and high net worth individuals.
The new company, which has now been licensed under the Pensions and Insurance Authority of Zambia (PIA), is one of five approved fund managers.
John Legat, head of asset management at the Imara Group, noted: “The prospects are attractive as Zambian pension funds are increasingly seeking professional assistance from external parties in the management of their members’ assets."
The Imara connection will strengthen the product and service offering to all categories of clients, both institutions and high net worth individuals, according to Imara ECR chief executive Nathan De Assis.
He pointed out: “Imara has a strong regional network across sub-Saharan Africa.... Access to investment opportunities across Africa and worldwide will enable high net worth individuals to achieve much greater portfolio diversification – a key benefit as we grow our business base."
The joint venture – Imara ECR Asset Management Limited – will focus on asset management for institutional investors and high net worth individuals.
The new company, which has now been licensed under the Pensions and Insurance Authority of Zambia (PIA), is one of five approved fund managers.
John Legat, head of asset management at the Imara Group, noted: “The prospects are attractive as Zambian pension funds are increasingly seeking professional assistance from external parties in the management of their members’ assets."
The Imara connection will strengthen the product and service offering to all categories of clients, both institutions and high net worth individuals, according to Imara ECR chief executive Nathan De Assis.
He pointed out: “Imara has a strong regional network across sub-Saharan Africa.... Access to investment opportunities across Africa and worldwide will enable high net worth individuals to achieve much greater portfolio diversification – a key benefit as we grow our business base."
