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Infinity indemnifies clients

Staff Writer

HARARE-BASED Infinity Asset Management (Infinity) says it has arranged professional indemnity cover to cushion investors from possible losses associated with collapsed financial institutions, ma

inly caused by unprofessional conduct of fund managers.

The company, which was among the first asset management companies to be licensed under the Reserve Bank of Zimbabwe (RBZ)’s new measures to regulate the financial sector, this week said it had put in place insurance cover to “ensure its clients are not prejudiced in the event of unprofessional conduct by its officers”.

“This, therefore, means that our clients are not prejudiced in the event that any of our fund managers acts unprofessionally,” said a spokesman for the company.

With Zimbabwe’s financial markets still smarting from events of the first half of the year, most investors — now demanding the best in terms of practice and earnings — are careful about investment-house choices and things that add up to security as well as knowledge and experience on the part of financial advisors.

Zimbabwe’s financial sector has undergone major changes since January this year, when Reserve Bank of Zimbabwe governor Gideon Gono ushered in new and stringent operational measures that included licensing requirements and shareholding structures.

Infinity, therefore, is seeking to consolidate the confidence it has created in the market and among its investors.

In just two years, the company has emerged one of the more solid asset managers with a client base spanning individuals, institutional investors and large corporates.

The firm offers investment advisory services, fund or portfolio management and investment research.

Said the company: “Our strategy has been to harness the wide financial, banking and industrial experiences that exist in the company and turn that into a product that offers incisive, responsive and rewarding returns to the investor.”

Plans are at an advanced stage to introduce unit trust products which will be tailor-made to suit investors with relatively small amounts of money to invest.

To encourage more small investors to participate on the money or equities markets, Infinity has introduced a debit order system under which clients can build up the minimum investment amount in five monthly installments.

“We decided to take this route after realising that some of our clients can not raise the minimum investment amount at once. We have, therefore, created this facility so that more people invest in our products,” said Infinity.

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