The asset manager has reported continued growth of its retail business and continued strong demand for exchange-traded funds
Sygnia, the asset manager cofounded by Magda Wierzycka, says it turned in a record financial performance for its half-year to end-March, with profits up almost a third amid continued interest in its exchange-traded funds as well as growth in its retail business.
Assets under management and administration fell slightly during the six months, but grew 6.1% year on year to R295.3bn, the group reported on Tuesday. Profit rose 31.5% to R139.1m, allowing the wealth manager to raise its dividend 45.5% to 80c. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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