HomeBusiness DigestZimnat takes over FML unit trusts

Zimnat takes over FML unit trusts

ZIMNAT Asset Management Company, which trades as Zimnat Wealth Managers (ZWM), had taken over the management of the FML Unit Trusts portfolio from the now liquidated First Mutual Asset Management Company.

ce=”Verdana, Arial, Helvetica, sans-serif”>The assent by the unit trust holders will see ZWM take over a portfolio that is currently worth over $100 billion.

The new development was announced at a unit holders special meeting that was convened by the FML Asset Management Company liquidators KPMG, at their offices at Mutual Gardens in Harare this week.

The liquidator, Teri Grimmel, stated at the meeting that ZWM was chosen as the most suitable manager off the Unit Trusts fund, ahead of other fund managers who were also vying for the management contract.

She also said the transaction had the support of the regulatory authorities, who amongst other things view Zimnat Wealth Managers’ prudent business philosophy, adherence to corporate governance principles, consistent positive investment track record and a strong capital base as positive factors that resulted in the capital base as positive factors that resulted in the company’s selection.

ZWM has continued to create real financial returns that are above current inflation rates, for both its shareholders and clients making it one off the most sought after fund managers in Zimbabwe.

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