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Stanlib secures ‘strategic partnership’ with JP Morgan Asset Management

Aimed at progressing the future of asset management in Africa.
Image: Moneyweb

Stanlib – the asset management group owned jointly by JSE-listed Standard Bank and Liberty – has secured a strategic partnership agreement with New York-based JP Morgan Asset Management (JPMAM), reputed as one of the world’s leading asset managers.

Announcing the move on Tuesday, the groups revealed that JPMAM will become Stanlib’s primary strategic offshore partner, providing investment management capabilities to complement the SA asset manager’s existing offshore offering.

“Stanlib will retain full ownership of the construction of the overall investment capabilities and product offerings,” it notes in a statement.

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As part of the agreement, JPMAM will in-turn exclusively partner with Stanlib to distribute the US-based asset manager’s investment product offerings into the South African market.

Stanlib says that tapping into JPMAM’s “broad range of world-class investment strategies” will provide it and clients with access to more global investment opportunities.

“The power of this partnership combines the depth, breadth and scale of JPMAM’s expertise across asset classes and products with our local capabilities to bring together complimentary skillsets,” comments Stanlib CEO Derrick Msibi.

“Together, we will progress the future of asset management in Africa,” he adds.

Stanlib, Derrick Msibi, JP Morgan

Derrick Msibi, CEO of Stanlib. Image: Supplied

JPMAM’s CEO George Gatch says the group is very excited to form a strategic partnership with Stanlib.

“The partnership will allow Stanlib and its clients to fully leverage the knowledge and research of JPMAM’s deeply resourced global network of investment professionals and JPMAM’s investment strategies. Additionally, JPMAM’s thought leadership and differentiated investment insights will be made available through events and conferences,” Gatch points out.

Read: Stanlib’s head of listed property Keillen Ndlovu resigns

Giles Heeger, Stanlib’s asset management executive, notes that the partnership “will not only bolster Stanlib’s offshore capabilities” but will also provide the group “with access to global best practice” to implement across Stanlib’s business functions “to deliver a world-class investment offering.”

As part of the strategic partnership agreement, he says new products are on the cards.

“These new products, the first of which is expected to be introduced in Q1 2022, will be designed to challenge the status quo and meet the evolving needs of our clients. This will support Stanlib’s objective to give our clients opportunities to invest for even more certainty, more returns and more impact in a fast-changing investment environment,” adds Heeger.

Read: Sanlam buys Absa’s investment management businesses in SA

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Funny there’s no talk of JPMAM’s performance relative to the US stock market. These multi-manager funds are nothing more than self-serving cash troughs for the asset management industry charging excessive fees with very little returns to speak of.

Check out the Stanlib Global Equity Feeder Fund, definitely one of the leading funds. Hopefully this deal will reduce cost for the fund and investors.

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