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Own Correspondent
DIVERSIFIED life and funeral services concern, Nyaradzo Group, has been licensed to operate an asset management company.
The new subsidiary will operate as the investment arm of the group.
By diversifying into new territories, Nyaradzo hopes to be able to broaden the range of services available to their clients.
At the same time, it offers their investment team the platform to sweat clients’ contributions to guarantee them continuous improvement in the quality of service available to them.
“We are excited to have been licensed by the Securities and Exchange Commission to operate such a complimentary service.
“When customers walk into any of our service centres, they must get solutions to all their financial needs under one roof.
“This new business represents another step towards making our group a truly composite financial services group,” a senior company official said.
Asked when the new venture would come to life, the official said they were putting together a solid team to manage the new baby while also attending to its equipment needs.
“Now that we have the licence, the market will be kept informed once everything has been put in place,” said the official.
The Securities and Exchange Commission of Zimbabwe (SECZ) has also confirmed the setting up of the new business unit. Before this latest development, there were 16 securities or investment managers in Zimbabwe.
Asset management companies take investor capital and put it to work in different investments including stocks, bonds, real estate, private equity, and more.
They handle investments according to an internally-formulated investment mandate, or process.
Simply put, they manage funds for individuals and companies.
Working with a group of several investors, asset management firms make well-timed investment decisions on behalf of their clients to grow their finances and portfolios in order to deliver attractive investments returns while managing risk.
Nyaradzo is one of the dynamic group of companies that was formed in 2001 and has grown into a dominant force in Zimbabwe.
The team has pushed the brand beyond the country’s borders.
The group runs Nyaradzo Life Assurance Company, which operates two divisions namely the Life Assurance Division and Nyaradzo Funeral Services, which commands more than 60 percent of the market share in the funeral services industry.
Online Reporter