By Staff Reporter
INVESTMENT company Bard Santner Markets has been picked to take over Tetrad Financial Services’ (TFS) client’s portfolio by company liquidators Aurifin Capital.
The deal, which was reportedly finalised this week, was announced by Aurifin Capital in a statement shared with journalists Thursday.
“Clients of TFS are hereby advised that the TFS managed clients portfolio, made up of individual investors, which has been under TFS has now been transferred to Bard Santner Investors (Private) Limited (BSI), an asset manager licensed by the Securities and Exchange Commission of Zimbabwe (SECZ), with effect from 1 September 2022,” read the statement.
Companies which had also set eyes on the deal were not revealed.
The clients’ portfolio in question includes pension funds, money market investments and private companies.
Bard Santner Markets chief executive officer (CEO) Senziwani Sikhosana told journalists this move will allow access to foreign markets.
“The handing over is a stepping stone in our long-term strategy to find, build and grow a diverse asset management portfolio which is responsive to the new and prevailing economic environment,” Mthimkhulu said.
“We are excited to have this opportunity to service the investors in the book we have inherited and will be working with the liquidator, the clients and other institutions to bring out the latent dormant value for the investors.
“We see our appointment as an endorsement of Bard in investment management and asset management in Zimbabwe. This move is in keeping with our strategy to find and reactivate dormant asset portfolios in the market, similar to our recent launch of a product where we are unlocking investments in paid up offshore properties in South Africa.
“This deal is an indication of how the market trusts us and a demonstration of its confidence in our vision, mission and strategy of unlocking value in dormant assets, mobilising diaspora funds for investment locally and securing new lines of credit.”