Ashburton Investments and FNB Wealth and Investments have formed a partnership with international investment powerhouse Morgan Stanley Investment Management Limited (MSIM) to strengthen its global capabilities.
The partnership will result in enhanced international capabilities for both Ashburton’s and FNB Wealth and Investments’ South African clients. Both brands will benefit from MSIM’s research and portfolio management in global equity markets. The partnership will allow MSIM to gain access into new Sub-Saharan African markets where FNB currently operates.
“As a business, we have been preparing for a partnership of this magnitude for a while. We have strengthened our distribution capabilities and cemented a stable Ashburton investment team that is focused on investment excellence. Our investment team under Patrice Rassou’s guidance, has established a credible local equity and multi-asset track record to add to our successful fixed income and credit range. This partnership is the next step in enhancing our solutions to better meet clients’ needs,” said Duzi Ndlovu, Ashburton’s CEO.
“Our key criteria in selecting the right global investment partner included a disciplined investment process underpinned by strong research and analysis which is congruent with ours. They need to be a leader in the field of sustainable investing and ESG innovation, display expertise across a range of global asset classes including alternatives and have a strong long-term performance track record of global portfolios. I believe that MSIM has these attributes,” commented Patrice Rassou, Ashburton’s Chief Investment Officer.
According to Bheki Mkhize, CEO of FNB Wealth and Investments, “through this strategic initiative the company will be able to enhance its sustainable investment solutions in the market. This partnership will not only help us to strengthen our global capabilities but also ensure that we provide our clients with sustainable solutions aligned to their long-term goals.”
Rassou further explained that the ground was set for a fruitful working relationship between Ashburton, FNB Wealth & Investments and MSIM’s teams, and that he looked
forward to Ashburton and FNB Wealth & Investments leading in terms of global investment solutions to the South African market.
Ruairi O’Healai, Co-Global COO for MSIM said: “Morgan Stanley has worked closely with Rand Merchant Bank (RMB) for many years, developing a strong and successful partnership. We are therefore pleased to further expand our relationship with the broader FirstRand group through a new partnership between MSIM, Ashburton and FNB, which will provide local investors access to our market-leading investment solutions.”
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