BMI wins PTI mandate in South Africa

RNS Number : 2857Z

Brooks Macdonald Group PLC

17 September 2015

 

17 September 2015

BROOKS MACDONALD GROUP PLC

Brooks Macdonald International wins Personal Trust International mandate in South Africa

Brooks Macdonald International (BMI), a subsidiary of Brooks Macdonald Group plc, today announces that it has won a mandate to manage half of all South African based Personal Trust International's (PTI) existing offshore portfolios, which are registered under PTI Guernsey Limited.

The mandate, totalling US $40 million, will be split across Personal Trust International's two offshore registered funds. BMI will be responsible for managing half of the circa $80 million assets of each of the US dollar-denominated funds.

The Funds will invest in a diversified range of asset classes. BMI will use a range of both active and passive investments to achieve the funds' objectives.

Chris Macdonald, Chief Executive of Brooks Macdonald Group commented: "This appointment recognises BMI's international capabilities and our expertise in managing over $10 billion of multi-asset, risk-rated, multi-currency portfolios. This is an important step for BMI following the granting of our license to operate in South Africa and the creation of our dedicated Africa team, and further cements our commitment to partnering with local financial services providers in the region."

Brooks Macdonald International was granted a category 1 license to provide advisory and intermediary services in South Africa by the Financial Services Board (FSB) in May 2015. The license means that BMI can offer its discretionary investment management, security and dealing services to South African investors from its Channel Islands base. Lindsay Bateman and Gary Hill, Senior Investment Manager, have been approved as Key Individuals by The FSB.

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Enquiries:

MHP Communications

Charlie Barker/ Giles Robinson                                                                            020 3128 8540

Notes to Editors:

About Brooks Macdonald International

Brooks Macdonald International (BMI) is a specialist, independent investment manager with offices in Jersey and Guernsey, providing discretionary management services for professional advisers, private clients, trusts, charities and pension funds.

Brooks Macdonald International is a subsidiary of Brooks Macdonald Group plc. Brooks Macdonald Group plc is an AIM-listed, integrated wealth management group with offices in Jersey, Guernsey, London, Manchester, Hampshire, Tunbridge Wells, Edinburgh, Hale, Taunton, York and Leamington Spa and as at 30 June 2015 had £7.41bn in funds under management.

Brooks Macdonald International is a business name of Brooks Macdonald Asset Management (International) Limited. Brooks Macdonald Asset Management (International) Limited is licensed and regulated by the Guernsey Financial Services Commission. Brooks Macdonald Asset Management (International) Limited, Jersey Branch is licensed and regulated by the Jersey Financial Services Commission. Brooks Macdonald Asset Management (International) Limited is an authorised Financial Services Provider, regulated by the South African Financial Services Board. Registered in Guernsey No 47575.  Registered office: Yorkshire House  Le Truchot  St Peter Port  Guernsey  GY1 1WD.

About Personal Trust International Group

Personal Trust International (Pty) Ltd  is a South AfricanTrust and Investment Management company providing financial planning and investment advice and services to clients planning for, or already in their retirement years. 

Personal Trust International (Pty) Limited is a licensed financial services provider under licence number 707. 

Personal Trust offers a full range of financial services including: Investment & Portfolio Management, Offshore Financial Services, Trustee Services, Retirement Planning, Local & Offshore Money Market, Estate Planning, Tax Services and Wills

Originating in 1980, the Group manages R13 billion worth of assets and has offices in Cape Town, Somerset West, Knysna and the UK.

PTI Guernsey Limited (GFSC  Ref No 2001972 is a wholly owned subsidiary of Personal Trust International (Pty) Ltd (1951/002859/07).

 

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