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Prescient’s immediate sights are on greater penetration into the South African retail market. It has set up basic structures in Namibia and Ireland and it has established a representative office in Shanghai.
Local offices have been established in Sandton, Pretoria, Durban, Stellenbosch and Cape Town.
Prescient Wealth has been established to drive the local individual wealth market. “We are looking to a broader market outside institutional business’, says Prescient Holdings deputy chairman Carey Millerd.
“We see considerable opportunity in the individual wealth management space, especially among those who have reasonably clear investment objectives.
“We believe that this is a service business that needs to be managed by people who take a long-term view of client relationships and investment. It also needs to be owned by people who are not trying to flog products.”
Another area of local expansion is Prescient Administration Services, which has become an important profit centre in its own right and not only a supplier to Prescient Investment Management. It’s currently in the business of taking on third party administration and mandates.
“The nuance is that we don’t think of administration as a commodity,” says Millerd. “We recognise it as a unique skill set that we have and are looking to more leads coming out of it.”
In Windhoek the company has established EMH Prescient Investment Management, a joint venture with EMH Capital, a private equity firm. The business is looking to secure institutional and individual mandates and wants to use this business as a springboard into other parts of the continent, particularly the SADC region.
“We regard Africa as a major opportunity and EMH is well positioned to help us achieve our objectives,” says Millerd.
In Dublin, Prescient is creating a springboard into Europe and the US. A registered UCITS management company and two registered schemes with four unitised portfolios are already in place. The plan is to expand the offshore investment management capability over time.
A representative office has also been established in Shanghai and once Prescient has been granted a Qualified Foreign Institutional Investor licence, it will manage both inward driven and outward driven money. This will be one of the first major thrusts by a South African investment company into China.
Local offices have been established in Sandton, Pretoria, Durban, Stellenbosch and Cape Town.
Prescient Wealth has been established to drive the local individual wealth market. “We are looking to a broader market outside institutional business’, says Prescient Holdings deputy chairman Carey Millerd.
“We see considerable opportunity in the individual wealth management space, especially among those who have reasonably clear investment objectives.
“We believe that this is a service business that needs to be managed by people who take a long-term view of client relationships and investment. It also needs to be owned by people who are not trying to flog products.”
Another area of local expansion is Prescient Administration Services, which has become an important profit centre in its own right and not only a supplier to Prescient Investment Management. It’s currently in the business of taking on third party administration and mandates.
“The nuance is that we don’t think of administration as a commodity,” says Millerd. “We recognise it as a unique skill set that we have and are looking to more leads coming out of it.”
In Windhoek the company has established EMH Prescient Investment Management, a joint venture with EMH Capital, a private equity firm. The business is looking to secure institutional and individual mandates and wants to use this business as a springboard into other parts of the continent, particularly the SADC region.
“We regard Africa as a major opportunity and EMH is well positioned to help us achieve our objectives,” says Millerd.
In Dublin, Prescient is creating a springboard into Europe and the US. A registered UCITS management company and two registered schemes with four unitised portfolios are already in place. The plan is to expand the offshore investment management capability over time.
A representative office has also been established in Shanghai and once Prescient has been granted a Qualified Foreign Institutional Investor licence, it will manage both inward driven and outward driven money. This will be one of the first major thrusts by a South African investment company into China.
