SA’s largest pension fund administrator, Alexander Forbes, which is sitting on nearly R4bn in cash, is ready to pounce on distressed companies, a rare sight in corporate SA as firms focus on building their cash buffers to withstand the coronavirus economic shock.
The company, which counts Patrice Motsepe-backed African Rainbow Capital as a major shareholder, is forging ahead with a strategy reset aimed at sharpening its focus on pension and wealth management after selling its capital-heavy insurance business in 2019.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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