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 Sharenet’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 Sharenet’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.
16h29 Heavily-indebted South African Airways (SAA) should be retained as a national airline but needs substantial restructuring, a top official in the governing African National Congress (ANC) party said on Wednesday.
16h38 Thailand's 3.2 trillion baht
($105.40 billion) budget for the current fiscal year, aimed at
reviving a flagging economy, faces further delay as lawmakers
seek a court ruling on the validity of the parliament vote. . .
16h35 Leading office tissue paper
supplier Essity said easing pulp prices meant it
had to cut the cost of some products, hitting first-quarter
earnings, after it reported a jump in fourth-quarter profit on
Wednesday.. . .
16h33 Fiat Chrysler's chief
executive Michael Manley said on Wednesday merger talks with
Peugeot owner PSA to create the world's No. 4 carmaker
are progressing well and he hopes to have a deal sealed within
12-14. . .
16h30 The Canadian dollar strengthened
against the greenback on Wednesday ahead of a Bank of Canada
interest rate decision, but some of the loonie's gains were
given up after domestic data showed inflation running close. . .
16h26 Chicago-based real estate
developer Hilco Redevelopment Partners is expected to pay $240
million in its winning bid for the Philadelphia Energy Solutions
refinery site, bankruptcy court documents showed on Wednesday.. . .
16h26 Lebanon's Hezbollah-backed
government will walk a political tightrope as it moves to
urgently secure foreign funding to ward off financial collapse
and could look to the International Monetary Fund (IMF) for
assistance.. . .
16h24 Reynolds Consumer Products said
on Tuesday it is looking to raise up to $1.32 billion in an
initial public offering (IPO), potentially setting up the first
$1 billion-plus U.S. listing of 2020.. . .
16h22 Shared workplace operator WeWork said on
Wednesday it sold cloud and analytics services provider Teem to
digital workplace solutions provider iOFFICE, as it offloads
non-core businesses after a botched initial public offering last
year.. . .
16h11 Belgium's financial services
and markets authority (FSMA) said on Wednesday it had opened an
investigation into suspected insider trading against the chief
executive of Mithra Pharmaceuticals.. . .
16h04 Boeing Co's bill for the 737 MAX
grounding could balloon to more than $25 billion, analysts
estimated on Wednesday, a day after the U.S. planemaker warned
of further delay in returning its once best-selling. . .
16h00 U.S. Senator
Elizabeth Warren, a contender for the Democratic Party's
presidential nomination, is asking the biggest U.S. banks for
details on their assessments of and preparations for risks
related to global warming.. . .
15h58 Indonesia's PT Bumi Resources
is looking into building a coal gasification plant
potentially worth more than $1 billion, a director said on
Wednesday, noting such a move would support Indonesian plans to
reduce its reliance. . .
15h48 Hong Kong leader
Carrie Lam said on Wednesday that the government had been very
vigilant over the coronavirus, adding that the rapid flow of
people across the border made the city highly vulnerable to. . .
15h37 A World Health Organisation panel
of experts on the new coronavirus met on Wednesday to evaluate
whether the outbreak, which has spread from China to several
countries, constitutes an international emergency.. . .
15h35 U.S. President Donald
Trump on Wednesday vowed dramatic action with the World Trade
Organization, saying the group's director general would visit
Washington as soon as next week, but giving no other details.. . .
15h34 Spanish renewables and
infrastructure firm Acciona has launched a joint bid
for a hotly contested 1.2 billion euro ($1.33 billion) project
to widen a key Slovenian railway link to its only deepwater
port, a company. . .
15h24 Marsh, one of the world's largest
insurance brokers and risk advisers, has seen a spike in
clients' enquiries for political violence cover in the Gulf
after attacks on tankers and oil installations rattled the
region. . .
15h24 Oilfield services provider Baker Hughes
Co missed analysts' estimates for quarterly profit on
Wednesday, hit by lower orders in its business that supplies
turbines and compressors to liquefied natural gas (LNG)
producers.. . .
15h22 A case of the pig disease
African swine fever (ASF) has been discovered in a wild boar in
Poland just 12 kilometres (7.4 miles) from the German border,
Germany’s agriculture ministry said on Wednesday.. . .
15h18 Airbus' shares hit
record highs on Wednesday, after U.S. arch rival Boeing
warned of further delay in returning its grounded 737 MAX
airliner to service, while Boeing customers and suppliers fell
on the news.. . .
15h08 Chicago and Paris wheat
futures extended a rally on Wednesday to set new 1-1/2 year
highs as strong export demand, tightening global supplies and
technical momentum supported prices.
Chicago soybeans were. . .
15h08 Daimler warned its
earnings halved in 2019 and it faced further charges of up to
1.5 billion euros ($1.7 billion)related to diesel pollution, in
the latest blow to the German luxury carmaker.. . .
14h51 European buyout fund
Eurazeo has hired Citigroup and Evercore to
prepare the sale of its payments business Planet in a deal that
could value the Irish firm at up to 2 billion euros ($2.22
billion),. . .
14h50 South African miner
Samancor Chrome said it could cut close 2,500 jobs in response
to weak chrome prices and power supply problems, according to a
letter to unions seen by Reuters on Wednesday.. . .
14h44 Optimism in British factories hit
its highest in almost six years in the three months to January,
according to a survey that added to signs of a post-election
boost, prompting investors to trim bets. . .
14h37 Italy's tax police seized and
destroyed 9.5 tonnes of pork from China which was banned by the
Health Ministry after African swine fever broke out in the Asian
country, police in the northeastern city. . .
14h34 Singapore on Wednesday started
screening all passengers arriving on flights from China to avoid
transmission of the flu-like coronavirus, and advised travellers
against non-essential travel to Wuhan, the Chinese city at the
epicentre of the. . .
14h33 United Arab Emirates'(UAE) largest
lender First Abu Dhabi Bank (FAB) is in talks to
potentially acquire the Egyptian subsidiary of Lebanon's Bank
Audi, two sources familiar with the matter told
Reuters.. . .
14h13 Sainsbury's has picked
retail and operations director Simon Roberts to succeed CEO Mike
Coupe, the architect of the British supermarket group's failed
bid for rival Asda who will step down in May after six. . .
14h06 Companies across
China are handing out masks and warning staff to avoid the
central city of Wuhan amid fears that the new flu-like
coronavirus will rapidly spread with much of population
embarking on travel for. . .
14h05 Financial regulators across
Asia are creating new rules for online-only banks as they seek
to shake up often staid markets, helped by technology companies,
which can operate at lower costs without needing physical
branches.. . .
14h04 Financial markets saw a lower
chance on Wednesday that the Bank of England will cut interest
rates next week, after the Confederation of British Industry
reported a pick-up in manufacturers' sentiment.. . .
14h00 Most Wall Street banks
announced their fourth quarter profits beat industry
expectations last week. But by the end of this week, bank
sources and compensation experts told Reuters, most of their
staff will be underwhelmed. . .
14h00 Change is afoot at BP. Incoming
Chief Executive Bernard Looney plans to expand the company's
climate targets and is considering overhauling the structure of
the oil and gas major in one of the biggest. . .
13h48 Lebanon should restructure its
Eurobonds, including a $1.2 billion issue maturing in March, and
secure a multi-billion dollar IMF bailout to stave off economic
meltdown, its former labour minister said.. . .
13h34 European Union member states lose
170 billion euros ($188.38 billion) a year due to tax avoidance
and evasion, a Polish state think-tank said in a report due to
be discussed later on Wednesday at. . .
13h21 London-based asset manager CQS,
founded by billionaire investor Michael Hintze, said on
Wednesday that Xavier Rolet is to step down as chief executive
in February and take up a position as strategic adviser.. . .
group Grab, gaming firm Razer, AirAsia,
telecoms firm Axiata and lender CIMB are
among companies looking to apply for digital banking licences in
Malaysia, sources told Reuters.. . .
13h13 Asian investors with money in
the U.S. equities market are unwilling to cash out their bets
just yet - but some are beginning to buy insurance against a
correction, according to a quant fund. . .
13h07 Britain's impending decision on
whether to allow Huawei to supply equipment for 5G
mobile networks comes at a delicate time, with debate raging in
European capitals over the security implications of reliance on
Chinese technology.. . .
13h03 Asian refining margins for 10 ppm gasoil plunged on Wednesday
to their weakest since mid-2017, while cash premiums for the transportation fuel lingered near
their lowest levels in over a month.. . .
13h01 Italy's bond yields rose on
Wednesday, widening the gap over safer German peers, on reports
that Luigi Di Maio will step down as the 5-Star movement's
leader, but sentiment stabilised as an imminent collapse. . .
13h00 Stress testing of banks in the
European Union to check their ability to withstand market shocks
without taxpayer help should be eased to cut bank costs, the
EU's banking regulator proposed on Wednesday.. . .
13h00 Canadian prosecutors are
expected to defend on Wednesday their case to extradite Huawei
Chief Financial Officer Meng Wanzhou to the United States saying
Meng was arrested on charges of bank fraud, which is a. . .
12h58 The Swiss franc fell on Wednesday
on signs the central bank may be intervening to stop it rising
further, outweighing the impact of concerns about the spread of
a new coronavirus that have driven. . .
12h54 The chief
executive of semiconductor equipment supplier ASML on
Wednesday said the company has received an order for one of its
most advanced machines from a Chinese customer but could not
deliver it because it. . .
12h48 Most Southeast Asian markets were subdued
on Wednesday ahead of a World Health Organisation meeting on a
virus outbreak in China - the region's biggest trading partner,
while Malaysian stocks dropped after the central. . .
12h41 Bank of America Corp
will recruit about 50 bankers for its investment banking team in
Asia this year, as it pushes to bolster its dealmaking business
and shore up revenues from the unit, three. . .
12h35 Turkish competition
officials made surprise visits to several private, state and
foreign banks late on Friday to analyse computers as they opened
a wide-ranging probe of trading in the financial sector,
according to three bankers.. . .
12h20 Japan's most prominent activist
investor on Wednesday demanded Toshiba Machine Co hold
an extraordinary shareholders meeting to discuss its plans to
introduce defence measures against a hostile takeover.. . .
12h16 Aircraft lessor Air Lease Corp
, which has ordered 150 of Boeing's grounded 737
MAX, remains confident in the jet's long-term value, Chief
Financial Officer Greg Willis said on Wednesday after Boeing
announced a new. . .
12h14 The United States' economy would be
growing at a pace near 4% if wasn't for the lingering effect of
Federal Reserve rate hikes, President Donald Trump told CNBC in
an interview on Wednesday.. . .
12h03 Indian utilities' coal imports
jumped 21% last year, rebounding after a three-year slide mainly
due to increased purchases by an Adani Power plant in
western India, government data showed on Wednesday.. . .
11h40 Housebuilder Berkeley plans to
more than double investor returns to 1 billion pounds ($1.3
billion) over the next two years while ramping up output,
signalling increased confidence in the UK market and lifting its
shares. . .
11h39 European shares rose on Wednesday,
boosted by a clutch of positive earnings updates and China's
effort to contain a virus outbreak, with trade-sensitive German
shares hitting record levels for the first time in two. . .
11h34 Emerging market stocks regained footing
on Wednesday after China's response to contain a virus outbreak
eased fears of a global pandemic, while the South African rand
treaded water after a reading on inflation.. . .
11h32 Hyundai Motor Co
turned in its best quarterly operating profit in over two years
and said it was on track for higher profit margins in 2020,
powered by more sales of sport-utility vehicles (SUVs). . .
11h31 Hong Kong's Cathay Pacific
Airways Ltd will allow all crew members and frontline employees
to wear surgical masks due to concerns over a new coronavirus,
and said passengers to and from Wuhan, China, could. . .
11h31 London's FTSE 100 rebounded from its
worst day in two weeks on Wednesday, as housebuilders gained
after Berkeley increased planned shareholder returns and
promised to ramp up deliveries, and worries over the spread of. . .
11h22 Brazil will start discussions
on joining the Organization of the Petroleum Exporting Countries
during a visit to Saudi Arabia in July, its energy minister
Bento Albuquerque said on Wednesday.. . .
11h13 French investment fund HLD Europe
has entered into exclusive negotiations with London-based IK
Investment Partners to buy a majority stake in Exxelia, a
manufacturer of components in the space and defence industries,
the companies said. . .
11h05 Shares in French train
manufacturer maker Alstom jumped 2% on Wednesday,
hitting their highest in almost two years, after a report of a
potential approach by its Canadian peer Bombardier to
combine the firm's rail. . .
11h02 Steady supply and a lack of buying interest have pushed Asian
refining margins for gasoil to their lowest in more than 2-1/2 years, and an expected demand
boost following a switch to cleaner. . .
10h55 Vital Materials Co, the world's
biggest minor metals producer, said it has bought several
batches of inventory previously held by China's Fanya Metal
Exchange, including around five years' global supply of indium,
in online auctions.. . .
10h48 Britain's pound rose to its
strongest level against the euro in almost two weeks on
Wednesday as investors debated whether or not the Bank of
England will cut interest rates when it meets next. . .
10h40 French energy major Total has
appointed Alexis Vovk as president of the group's marketing and
services business segment and member of its executive committee,
replacing Momar Nguer who has reached the firm's age limit,. . .
10h19 Japan's government cut its
assessment of capital spending in January for the first time in
eight months due to softer global demand but said its overall
view of the economy was unchanged from December.. . .
10h14 Hong Kong's
government is on high alert to deal with a new flu-like
coronavirus that has killed nine people in mainland China, the
city's commerce secretary, Edward Yau, said on Wednesday.. . .
Complete the form below to recieve your daily selected share information straight to your inbox every evening. You only have to complete the form once. Data Privacy: We do not divulge your details to any third party service or product providers. All our emails provide unsubscribe options at the bottom.
Subscribe to get a summary of the day's market data and news sent straight to your inbox. Data Privacy: We do not divulge your details to any third party service or product providers. All our emails provide unsubscribe options at the bottom.