NEDGROUP Investments, the international asset management subsidiary of Nedbank, has announced record breaking figures for 2011, breaking through the US$1 billion barrier of investments under management and advice for the first time.
Following a diversification in its investment strategy, new business generated by Nedgroup - based in Samuel Harris House, Douglas - resulted in assets reaching $1.2 billion by the end of December.
This comes at the end of a year that also saw Nedbank being awarded South African Bank of the Year 2011 by The Banker Magazine.
Nedgroup’s figures represent an overall increase of more than 50% in investment funds under management and advice.
“The results are good news for investors,” said Nedgroup Investments managing director Andrew Lodge. “Nedgroup, has devoted a huge amount of time and expertise into creating a new investment portfolio - and these results reflect the strength of our investment strategy.
“These have been difficult times for investors and we realised some time ago that the investment market had to be approached with something new and in which professional intermediaries and private client asset managers could place their trust.”
To celebrate the results, all members of staff at Nedgroup Investments have received bottles of champagne as the company enters the new-year hoping to build on its 2011 successes.
