The new business, called Morningstar Investment Management South Africa will be based in Cape Town and forms part of Morningstar’s Investment Management group which had $170bn (£110.6bn) in assets under advisement and management as of 31 December 2014.
“We are pleased to expand our proprietary asset allocation, manager selection, portfolio construction, and investment advisory services to South Africa,” Tal Nieburg, managing director for Morningstar South Africa, said.
“There is growing demand among investors in South Africa for investment solutions that cross the full range of investment advisory services. These licenses enable us to leverage Morningstar’s global capabilities to deliver investment solutions that help investors achieve better financial outcomes,” he said.
Morningstar’s Investment Management group provides retirement, investment advisory, and portfolio management services for financial institutions, plan sponsors, and advisers around the world.
Morningstar also announced that Victoria Reuvers has been named a director and senior investment consultant for Morningstar Investment Management South Africa. Before joining Morningstar, Reuvers had founded Trivium Capital, an investment consulting and research firm in Cape Town, and had previously held several management and research positions at Investec Asset Management.
“Vicki is a proven leader with expertise in fund analysis, quantitative research, and portfolio construction and management,” Simon Ewan, head of Morningstar’s investment advisory and portfolio management services for the EMEA region, said.
“Our experience working with asset managers to deliver sub-advisory and asset allocation services, and with advisers for managed portfolios, is a natural extension of our business and will transition well to South Africa’s open-architecture environment,” he said.
