We are pleased to announce that RECM and Counterpoint Asset Management have reached an in principle agreement to merge their operations. Importantly, the two firms have complementary skills and investment philosophies, and share a similar culture.
The asset management industry in South Africa is highly fragmented. Intense competition and an onerous regulatory environment has resulted in increasing margin pressure. We believe that the even greater depth and reach resulting from our integrated teams, when added to the current compelling performance history in many of the fund offerings, will be of great benefit to all clients.