The company said it is committed to establishing and building a permanent distribution in South Africa, and has also appointed Adam Benzimra as business development manager for the area.
Benzimra has 16 years’ experience in the financial services industry and joins VAM funds from Jersey-based Ashburton Investments in South Africa.
Significant wealth
Nigel Watson, VAM sales director, said: “South Africa is a major hub for high quality fund managers and we are delighted to have the full backing and support from the Financial Services Board (FSB) to offer our range of funds to this important and growing market.
“We are finding that well-regulated international funds, such as those we provide through our Luxembourg UCITS IV range, are increasingly in demand and being sought by advisers and investors in South Africa and in other key international markets.
“Quality and simplicity are back in fashion with advisers seeking better-regulated, ‘cleaner’ products, with clear, fair and transparent charging structures that invest in mainstream asset classes.”
Watson said the company’s FSB licensing has been so far well recieved, adding an extra layer of “comfort and credibility” for both IFAs and platforms.
“In South Africa people are starting to invest significant amounts of wealth offshore as there are no longer any restrictions,” he said.
He added that the company would be offering further funds for sale in the region over the coming months, as well as strengthening its position in existing jurisdictions.
