FINANCE NEWS: South African fund manager gears up for assault on UK

South African fund management firm io investors is preparing to break into the UK charities market.

The asset management arm of South African financial services group Sanlam, which has £13 billion under management, has made several new appointments.

Deon Gouws joins as chief investment officer from Old Mutual Asset Managers in South Africa, while Danny Vassiliades becomes business development manager.

Institutional business development manager Gillie Tomlinson said the firm's approach of using external investment managers while retaining control of portfolio construction would be attractive to charities.

"We are not just talking about bonds or equities but also hedge funds," she said.

The firm plans to contact charity-sector investment consultants and employ direct marketing.

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