 |
Friday, 12 January 2001
Standard Bank Unit Trusts achieves record sales
Standard Bank Unit Trusts achieved record sales totalling R12,7 billion in 2000.
Total sales for the fourth quarter from October 1 to December 31 totalled R2,7 billion. Equity sales amounted to R2.4 billion for the year and R528 million for the final quarter. Assets under management at year-end exceeded R11.8 billion.
Says Standard Bank Unit Trusts Managing Director, Anthony Katakuzinos: "Our sales have been at an all time high for both equity and money market funds. Local equity sales have been fair, considering the increased demand for international funds, and we are still seeing demand for the local funds particularly those which have an offshore flavour. Our funds of funds have also been popular this year.
"The figures show that despite the disappointing year for local and international equities and the tighter conditions consumers experienced, there is still a lot of interest in the unit trust industry. Investors are becoming increasingly aware of the long-term benefits unit trust investments offer."
Standard Bank Unit Trusts' market share has also increased to over 8% in 2000.
"Now that our market share has increased, we plan to keep the upward trend going. We will be adding products to our asset swap range during the first quarter and will expand our range further where we see the need, and we will continue to offer quality products and good service."
Katakuzinos attributes the success to a combination of good people, products and client support.
"We have done a lot of work to get the mix right, and we are starting to reap the benefits. People who buy our products are aware of what they are buying and recognise the quality and comprehensive range of products we offer. Our alliance with Fidelity has also been a contributing factor to our success."
|
|
|
|
