Old Mutual still on top

Roadwin Chirara

OLD Mutual Asset Management (Omam) has retained pole position as the biggest asset manager in the country with over $2 trillion under management, according to a survey released by Comarton Co

nsultancy as of September 30.

The latest results show a marked increase of over 100% for Omam whose asset book was at $993 billion as of June 30.

Imara Asset Management (Imara) is now in second position with $1,6 trillion, taking over from CBZ Holdings’ asset management firm, Datvest, which has $1,4 trillion under management.

Imara’s asset book has grown 140% to $1,6 trillion, up from $556 billion recorded as of June 30 this year. Datvest, which has had to settle for third position in the sector with $1,4 trillion, records an increase of 162% in its asset book from its previous levels of $645 billion.

African Banking Corporation’s ABC Asset Management retains its fourth position with $776 billion under management, representing a marked increase of 147,62% from its previous asset book of $328 billion. Tetrad Asset Management remains at the bottom of the survey with $142 billion under management despite its book recording an increase of 143,91%.

The survey also shows Omam with the largest number of pension funds under management with 64 while Imara has 58, Datvest 46 ABC (27) and Tetrad (21).

Over a period of 24 months from September 30, 2003 to September 30 2005 Datvest recorded the highest increase in performance growth of 1 657,51% followed by ABC at 1 456,25%, Imara at 1 345,25%, and Omam at 837,27% increase while Tetrad managed to increase by 646,06%.