Japanese Investors Access South African Rand Through New Shinsei Fund
LONDON, Jan. 22 /PRNewswire-AsiaNet/ --
Investec Asset Management today announced an agreement with
Japan's Shinsei Bank Limited which allows Japanese investors access to a
South African Rand-denominated Money Market Fund advised by Investec Asset
Management. The Horizon Trust - South Africa Rand Money Market Fund which is
launched by Shinsei Bank Group is registered in the Cayman Islands and will
be distributed by various distributors in Japan.
The Fund, which has a similar mandate to the Investec Money
Market Fund, targets Japanese investors who are attracted by the high yield
in the South African money market, given that the yield is close to zero in
Japan. Japanese investors will, however, take on the full currency risk, so
they will need to be confident that the yield they earn in the SA money
market will not be eroded by currency movements.
Shinsei Bank Group appointed Investec Asset Management to
manage the Fund after conducting an extensive on-site due diligence.
Richard Garland, Managing Director of International Distribution,
Investec Asset Management commented:
"We are delighted to be partnering with an important
international investment player like Shinsei Bank, as their decision to
choose Investec Asset Management endorses the successful track record we have
built in managing South African assets over the past eighteen years. Our
global reach and established international profile have undoubtedly assisted
us in the bidding process. We look forward to a long and successful
partnership with Shinsei Bank in Japan."
Notes to Editors
Investec Asset Management is a specialist investment manager,
providing a premier range of products to institutional and individual
investors.
Established in 1991, the firm has been built from start-up
into an international business managing approximately $55bn* on behalf of
third party clients. We have grown from domestic roots in the UK and Southern
Africa to a position where we proudly serve a growing international client
base from the Americas, Europe, Asia, Australia, the Middle East and Africa.
We employ 100 investment professionals.
The firm seeks to create a profitable partnership between
clients, shareholders and employees, and to exceed expectations for both
client service and performance.
Investec Asset Management is an independently managed
subsidiary of Investec Group.
*As at 30th September 2008.
Any information contained in this communication is believed to be
reliable but no warranty is given as to its accuracy or completeness. While
opinions stated are honestly held, they are not guarantees and should not be
relied on. Phone calls may be recorded to confirm your instructions.
For further information, please contact:
Vian Sharif
Investec Asset Management
+44(0)20-7597-1834 or +44(0)7826-911669
Kotie Basson (Cape Town)
+27-214-161-812
SOURCE: Investec Asset Management
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