The Sharenet Group has over the last 30 years evolved from a pure data provision business into a fully-fledged financial services provider company, and in recent years, into two distinct business divisions:
An agnostic wealth management business with local and international focus; and an asset management business delivering risk-adjusted returns across a range of Collective Investment Scheme mandates.
Sharenet Group board of directors, as part of its continued review of Sharenetâ€™s core business activities, have determined that, given the divergent paths between market data and asset management - there is no longer strategic rationale for operating an asset management business within the Sharenet Group.
This decision reflects Sharenetâ€™s continued shift towards becoming an agnostic global platform business whereby Sharenet is recognised as the premier conduit between asset managers, financial advisors and end-user clients.
As a result, the Sharenet Board has, effective 25 June 2019, concluded a sale of Sharenet Investments to Management.
Sharenet Investments under the steady hand of CEO, JC Louw and Chairman, Kobus Louw will continue to operate under license agreement with Sharenet in South Africa, for a period of 5 years, focussing on providing Collective Investment Scheme and discretionary fund management solutions to independent financial advisors and their respective clients.
If you would like to access the Sharenet Investments website, please visit www.sharenetinvestments.co.za.
Should you require further information, please do not hesitate to contact the Sharenet Group.
10/12 Just Eat rejected a raised
takeover offer from Dutch-based technology group Prosus
on Tuesday because it significantly undervalued the company and
said it continued to back a rival all-share offer from
Takeaway.com.. . .
20/11 Unions are escalating a
crippling strike at South African Airways (SAA) after talks
broke down, leaving the state-run carrier at risk of liquidation
without a government guarantee to secure bank funding, a board
member said.. . .
29/08 South African construction
group Aveng on Thursday said its net operating loss
more than doubled in the latest financial year, highlighting the
challenges the company faces as it embarks on a turnaround
strategy.. . .
28/08 South African drugstore
chain Dis-Chem Pharmacies Ltd said on Wednesday that
its revenues rose 13.5% in the five months through July, thanks
to an increase in medicine prices and a jump in wholesale
revenues.. . .
28/08 South African food services
firm Bid Corporation Ltd (Bidcorp) said on Wednesday
the sale of its UK logistics business was back on track and
nearing completion, which would allow the group to focus on. . .
27/08 Anglo American Platinum
(Amplats) said on Tuesday its subsidiary Rustenburg
Platinum Mines (RPM) had completed the acquisition of the Kwanda
North and Central Block prospecting rights for 300 million rand
from Atlatsa Resources Corp... . .
27/08 South Africa's rand
weakened on Tuesday, with traders sceptical about comments by
President Donald Trump expressing hope for a possible
U.S.-Chinese trade deal just days after the two countries raised
tariffs against each other.. . .
27/08 Imperial Logistics Ltd
expects to wind up its loss-making consumer
packaged-goods (CPG) business in South Africa by the end of
September and is also considering disposing of its shipping unit
in Europe as it overhauls. . .
27/08 South Africa's Standard
Bank has taken a stake in local fintech firm Nomanini
to offer credit to potentially millions of small shop owners and
other informal retailers across Africa that have limited access
to banking. . .
26/08 South Africa's rand firmed
in afternoon trade on Monday as the United States and China
sought to ease trade war tensions while investors also looked to
a slew of domestic economic data later in. . .
26/08 Sasol said on
Monday it had reduced its 2020 core earnings target for its U.S.
ethane cracker project and revised the dates for the start-up of
some of the company's downstream units following technical
issues.. . .
23/08 A proposed move to universal
health coverage in South Africa will be rolled out in stages as
the budget improves, a senior presidential aide told Reuters,
forecasting the landmark reform would cost $2.2 billion. . .
22/08 South Africa's rand was
flat on Thursday, as a boost from lower-than-expected local
inflation was overshadowed by worries that further U.S. Federal
Reserve easing might take longer than expected.. . .
22/08 Shares in South African
budget clothing and furniture retailer Mr Price tumbled
on Thursday after the firm reported a slowdown in sales in the
first four months of its financial year, citing a slow. . .
21/08 South African chemicals and
fertiliser maker Omnia Holdings said on Wednesday its
chief executive officer Adriaan de Lange has resigned and will
be replaced by the current group finance director.. . .
21/08 South Africa's rand rallied
more than 1% to its firmest in nearly a week on Wednesday on
optimism the central bank has room to boost the flagging economy
after consumer inflation fell more than. . .
20/08 Shoprite Holdings
missed full-year earnings forecasts on Tuesday, hit by inventory
shortages in South Africa and currency devaluations in the rest
of Africa, which overshadowed an improved second half in its
home market.. . .
20/08 South Africa's rand firmed
early on Tuesday, pulling back from an 11-month low as long
dollar investors took some profits and awaited further clues on
the outlook for the global and local economy.. . .
20/08 South Africa's supermarket
chain Shoprite Holdings reported lower-than-expected
full-year earnings on Tuesday as inventory shortages at home and
currency devaluations in the rest of Africa weighed on profit.. . .
19/08 Russia's Norilsk smelter
complex and a town in South Africa's eastern coal mining
province have the highest sulphur dioxide (SO2) emissions in the
world, according to satellite data from U.S. space agency NASA.. . .
19/08 South Africa's rand weakened on Monday as
traders and investors continued to weigh heightened global
growth risks against local uncertainty, while equities rose in
line with global stock markets.. . .
16/08 Sasol Ltd delayed
the release of its annual financial results on Friday due to
possible "control weaknesses" at its U.S. ethane cracker
project, sending shares in the chemicals and energy company down
by more than. . .
16/08 South Africa's rand was
firmer early on Friday, adding to the previous session's gains
in a recovery driven mainly by investors covering their short
positions in anticipation of sharper falls as local and global
growth. . .
15/08 South Africa's Truworths
International Ltd is considering closing loss-making
stores of its UK-based shoe chain Office, joining the growing
ranks of retailers to be hit by Britain's gloomy trading
environment.. . .
15/08 South African fashion
retailer TFG will decide next year whether to continue
trading in Kenya and Ghana where it has at least six stores in
each market, Chief Executive Officer Anthony Thunstrom said on
Thursday.. . .
15/08 Clothing retailer Truworths
International Ltd on Thursday reported a 57.5% fall in
full-year profit before tax due to the 97 million pound ($117.44
million) impairment charge related to its Office shoe chain in
Britain.. . .
15/08 South African bullion
producer Harmony Gold full-year profits are expected to
rise by as much as 32% boosted by increased production and
profit from its from Moab Khotsong and Hidden Valley operations
and lower impairments.. . .
15/08 South Africa's Impala Platinum (Implats)
said on Thursday it expects to swing into profit this
year boosted by higher sales, rhodium and palladium prices and
improved performance at its Rustenburg operations.. . .
15/08 The South African rand
firmed early on Thursday, pulling back from a slide to its
lowest in nearly 11 months as investors digested signs of global
economic recession and looked to buy the currency. . .
14/08 South African stocks
slipped to a near six-month low on Wednesday after the U.S.
Treasury bond yield curve inverted for the first time since
2007, reflecting concerns over the outlook for the world's
biggest economy.. . .
14/08 South African private
education firm Curro Holdings will invest 223 million
rand ($14.66 million) in opening four new campuses, it said on
Wednesday, after reporting a 44% rise in half-year headline
earnings.. . .
13/08 South Africa's rand firmed
on Tuesday, helped by improved risk appetite on signs of easing
trade friction after the United States said it would delay
tariffs on some Chinese products and both sides agreed. . .
13/08 A drop in earnings at
Absa's South African corporate and investment bank took
the shine off progress at its core domestic retail business as
the lender reported a 5% rise in first-half profit on. . .
12/08 South Africa's rand
weakened on Monday, stretching losses to a new 11-month low as
political uncertainty and a bleak economic outlook was worsened
by uncertainty over the chances of a resolution to the trade
standoff. . .
12/08 Clough USA has been awarded
a petrochemical engineering, procurement and construction (EPC)
project in the United States worth $620 million, South African
parent firm Murray & Roberts said on Monday.. . .
08/08 South Africa's rand steadied
in late trade on Thursday, after slipping to a new 11-month low
in the session as concerns about the outlook for domestic growth
and fears over a sovereign credit rating. . .
08/08 South Africa published its draft
National Health Insurance (NHI) bill on Thursday, with one
senior official estimating universal healthcare for millions of
poorer citizens would cost about 256 billion rand ($16.89
billion) to implement by. . .
08/08 South Africa's Standard Bank
the bank could look at entering new markets in Africa, Chief
Executive Sim Tshabalala said on Thursday, as the bank's focus
on the continent continues to pay off.. . .
07/08 South Africa's rand fell to
touch an 11-month low on Wednesday, rocked by deepening concerns
about the outlook for domestic growth against a backdrop of
uncertainty for emerging markets more broadly.. . .
07/08 South Africa's Blue Label
Telecoms said on Wednesday Douglas Craigie Stevenson
had been appointed permanent CEO of mobile carrier Cell C,
citing its improved finances since he took the position on an
interim basis.. . .
06/08 South Africa's rand weakened
to two-month lows in late afternoon trade on Tuesday, giving up
gains earlier in the session, after ratings agency Moody's said
power utility Eskom urgently needs a turnaround plan as. . .
02/08 South African sugar producer
Tongaat Hulett will delist its shares from the London
Stock Exchange to cut costs and streamline its shareholding
structure amid low trading volumes in the London-listed stock,
the company said on. . .
02/08 South Africa's Gold Fields
Ltd expects interim earnings to have fallen by as much
as 15% despite an increase in metal output after the inclusion
of its joint venture with Asanko Gold, it said. . .
01/08 Clothing retailer Truworths International
Ltd on Thursday forecast lower annual core earnings and
took a 97 million pound ($117.81 million) impairment charge
related to its Office shoe chain in Britain.. . .
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