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Tony Christien Benedicte Gravrand, Opalesque Geneva for New Managers:
Small and new fund managers are struggling to survive in South Africa just as much as they are in other parts of the world. But according to some of the participants at the latest Opalesque South Africa Roundtable, the high net worth market will be a key driver going forward for this segment of the market.
According to Pieter Viljoen, CIO at Edge Capital, it has become more onerous for new managers to set up business in South Africa, from an operational and an industry perspective. Indeed, over the past couple of years, he explained, most of the growth in the local industry has been asset growth and there has not been much of it, making it very difficult for new talent to raise any asset.
"A lot of the new funds that we have seen are either very small funds who want to get recognized as a hedge fund or as a fund prior to regulation, or players repositioning and restructuring their legal structure," said Genene Carse, Business Implementation Manager at IDS Fund Services, an administrator with broad capabilities across a wide product offering that spreads from collective investment schemes, securities, long-only, to private equity and hedge funds.
Tony Christien, Deputy CEO at IDS, added that Edge Capital was ...................... To view our full article Click here
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