Morningstar, an independent investment research firm, has launched an investment management business in South Africa branded as Morningstar Investment Management South Africa.
The Financial Services Board (FSB) of South Africa has licensed the new unit under Category I and Category II to provide investment advisory and discretionary investment management services to South Africa-based financial institutions and financial advisers.
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The firm, to be based in Cape Town, will provide research-driven investment services to the local market, including asset managers, wealth managers, family offices, and advisers.
Morningstar has also appointed Victoria Reuvers, the founder of Cape Town-based investment consulting firm Trivium Capital, as a director and senior investment consultant for its new business in South Africa.
Morningstar South Africa managing director Tal Nieburg said: "There is growing demand among investors in South Africa for investment solutions that cross the full range of investment advisory services.
"These licenses enable us to leverage Morningstar’s global capabilities to deliver investment solutions that help investors achieve better financial outcomes."
