Leading financial services industry company, Stanbic Investment Management Services (SIMS), has rebranded to STANLIB Investment Management Services.
In a few short years, the business has grown from an extension of Stanbic’s offering in the Botswana market, to a fully-fledged investment firm proclaiming its place as a leader within the market. Its assets under management have swelled from P120 million at inception 2002 to P6.5 billion today.
Lanz Zulu, STANLIB’s executive head, asset management for Africa, said at the launch of the re-branded company this week that the move is a bold reaffirmation of STANLIB’s long-term commitment to investing in Botswana.
“SIMS was established through a strategic collaboration between Stanbic Bank Botswana and STANLIB to manage pension, institutional, public sector and private assets,” he said. “Although our name is changing, our goals are not. Now is an exciting time as our financial services industry continues to develop and mature.”
He highlighted the company’s objective to keep helping people fulfil their savings goals and dreams through a suite of four unit trust products. “Although we leverage the support and expertise of a global organisation, we are truly local,” he stated.
Starting modestly with just 500 retail clients in 2002, the company now has over 5000 clients. Zulu said the main priority is to increase the retail book as Batswana start appreciating the need to save. In recognition of the growth potential and strategic advantage of Botswana,
“Differentiating ourselves in the minds of our clients and the industry is a key aspect of our strategy, “Zulu said. “It is important that we create a clear distinction between STANLIB and Stanbic Bank Botswana in order to build our brand within this market.”
STANLIB, now with more than 290 years collective experience within its investment team based in its Johannesburg head office, was founded as a tie-up between Standard Bank Asset Management and Liberty Asset Management.
SIMS itself hit the ground running in Botswana a decade ago the joint venture between Stanbic Bank Botswana and STANLIB Asset Management. Initially one of the first unit trust providers in Botswana’s nascent unit trust industry, SIMS now commands over 80 percent market share.
In an earlier interview with Sunday Standard, Leonard Siwawa, CEO of SIMS, said from the initial focus on unit trusts, the company has diversified its portfolio within the money market. He stressed that since emerging on the Botswana market, it has transformed the asset management industry.
Siwawa said being part of the STANLIB stable creates comfort for SIMS that a global brand has its back. “This has stood us in good stead,” he said.
He added that SIMS was now looking to leverage its skills set to further corner the Botswana market by tapping into private equity and increase its mandate to cover the property market.
Thabo Dloti, CEO of Liberty Investment, said the STANLIB is as a group among the top three pension fund managers in South Africa. He added that the tie up with local business has created a partnership that has brought morale that runs deep.
Meanwhile, Minister of Transport and Communications, Nonofo Molefhi, said at the launch that the rebranding of Stanbic Investment Limited is a clear testimony of the Bank’s commitment to improve its services and contribute towards the economic growth of the country.
“By investing funds on behalf of the Public Officers Benefits Fund, and attaining positive returns, the firms are playing a direct part in ensuring the prosperity of hard working government employees,” said Molefhi.