Financial services group Peregrine is looking to make more acquisitions for its wealth management division following the purchase of Pretoria-based Purpose Wealth.
Commenting on the company's latest acquisition of the wealth management company, Peregrine CEO Rob Katz said “Purpose Wealth, which has assets of just over R1bn, is exactly the kind of business we should be buying and integrating into Citadel.” The group, which comprises divisions such as Peregrine Capital, Stenham Asset Management and Java Capital, announced a decline in headline earnings per share of 40% to 77.8c per share for the six months ending September.
“Everything is working well. The weak Rand boosted assets under management, the business enjoyed strong client retention and controlled expenses well, and redemptions were lower than expected,” Katz said.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Peregrine’s earnings fall as JSE activity declinesThe group, which includes Citadel, Peregrine Capital and Stenham, says its outlook remains constrained by US-China uncertainty
Källa: BDliveSA - 🏆 12. / 63 Läs mer »
Telkom eyes potential acquisitionCompany has previously made a bid for embattled mobile operator Cell C
Källa: BDliveSA - 🏆 12. / 63 Läs mer »
Telkom eyes potential acquisitionCompany has previously made a bid for embattled mobile operator Cell C
Källa: BDliveSA - 🏆 12. / 63 Läs mer »
Telkom acquisition plan points to Cell CDeal may enable landline operator to break stranglehold of mobile giants MTN and Vodacom
Källa: BDliveSA - 🏆 12. / 63 Läs mer »