Bank Windhoek Acquires Capricorn Asset Management

BANK Windhoek Holdings has acquired Capricorn Asset Management with effect from 1 January.

Bank Windhoek said yesterday that all regulatory approvals for the transaction have now been obtained and all conditions precedent has been met.

“The transaction is seen as a key enabler towards achieving Bank Windhoek Holding’s aim to diversify its business interests. The key motivations for the transaction are to drive synergies between the value offering in the Bank Windhoek Holdings Limited group and CAM the diversification of Bank Windhoek Holding’s income streams and growth potential”, said Christo de Vries, Managing Director of Bank Windhoek.

CAM is one of Namibia’s leading asset management companies in the capital and money market industry with N$10,4 billion under management as at 31 December 2013. CAM was officially launched in July 2006, as a fully fledged and licensed local and independent asset management company. The company currently manages and administers 13 unit trust funds and a number of segregated portfolios which amongst others include pension fund mandates.

Source : The Namibian