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.
15h06 Chief Executive Chris Griffith said on Monday he will step down in April from the helm of Anglo American Platinum (Amplats), which on Monday reported a doubling in annual earnings, driven by higher metals prices.
17h46 Oil prices were little changed on
Monday as concerns over the economic fallout from the
coronavirus outbreak in China were offset by hopes that
potential output cuts from major producers could tighten crude
supply.. . .
17h46 Establishing a single
record of trading data from the dozens of separate national
exchanges and trading venues is a priority in its current review
of markets rules, the European Commission said on Monday.. . .
17h36 French transport infrastructure company
Alstom is in talks over a potential $7 billion
acquisition of Canada's Bombardier’s train business,
marking the latest attempt by Western rail companies to bulk up
in the face of Chinese. . .
17h35 The Italian government is holding
off on responding to an offer by Atlantia to cut its
holding in motorway unit Autostrade per l'Italia below 50% to
resolve a dispute over its operating licence and. . .
17h30 A regional court in Spain
has upheld the suspension of broadcaster Mediaset's plan
to merge its Italian and Spanish units under a Dutch holding
company after rejecting Mediaset's appeal, three sources told
Reuters on Monday.. . .
17h27 An annual International
Exhibition of Inventions held in Geneva has been postponed by
six months due to the coronavirus epidemic, its organisers said
on Monday, saying that half of its exhibitors come from Asia.. . .
17h26 German conglomerate
Thyssenkrupp said on Monday it has shortlisted two
private equity consortia in the sale of its 16 billion euro
($17.3 billion) elevator division, dealing a blow to Finland's
Kone, which withdrew from the. . .
17h25 Brazilian truck drivers were
protesting since early hours of Monday at Latin America's
largest port in Santos, demanding a reduction of ICMS tax on
gasoline and diesel, the port's management said, adding that no
roadblocks. . .
17h24 The euro struggled near 3-year
lows on Monday as investors worried about weakening growth in
the region, while Chinese efforts to limit the damage from a
coronavirus outbreak appeared to calm markets, with the. . .
17h22 Greece's biggest oil refiner,
Hellenic Petroleum, said on Monday it will finance and
operate a 204 megawatt solar energy plant in northern Greece to
tap into the country's shift from coal to renewables.. . .
17h14 Stocks in Latin America edged higher on
Monday as investor anxiety around the impact of a coronavirus
outbreak was soothed by China's stimulus measures, but Brazil's
real looked shaky after a gloomy outlook on. . .
17h10 German battery maker Varta
said on Monday it had significantly exceeded its
guidance for 2019, posting a 34% increase in revenue, driven by
lithium-ion batteries for consumer products such as premium
wireless headsets.. . .
17h10 Albania recorded a trade deficit
of 19 billion leke ($169 million) in January, 7.1% narrower than
in the same month last year and 44.1% narrower than the
shortfall in December, the Institute of Statistics. . .
17h02 Investors managing $37 trillion
in assets urged Japan to slash the country's carbon emissions,
saying on Monday that a strong signal from Tokyo could help
galvanise international climate action ahead of a U.N. summit. . .
16h55 Euro zone finance ministers
will discuss on Monday a document that calls for a more
growth-friendly fiscal policy, a move that could lead to
Germany's spending more as fears of a downturn grow amid
uncertainty. . .
16h53 More than 300 U.S. citizens including 14
infected with the coronavirus were in the United States and
under quarantine on Monday after spending two weeks stuck on a
cruise ship off Japan that had. . .
16h50 Euro zone banks had
combined shortfalls in their loss-absorbing buffers of up to 200
billion euros ($216 billion) at the end of 2018, according to
estimates on Monday from the bloc's watchdog that deal. . .
16h45 Economists at Barclays have cut
their Brazilian growth forecasts, the latest in an expanding
clutch of observers to say the spillover from disappointing data
late last year means growth this year will now be. . .
16h35 Thyssenkrupp on
Monday said it has shortlisted two private equity consortia in
the auction of its prized elevator division, dealing a blow to
Finland's Kone, which withdrew from the closely
watched deal.. . .
16h26 Ample rainfall last week in some
of Ivory Coast's cocoa-growing regions brought welcome relief
following a dry spell that had threatened to deplete the
upcoming mid-crop harvest, farmers said on Monday.. . .
16h09 Brazilian food processor BRF
SA said on Monday that two of its plants have been
temporarily suspended from exporting poultry to Saudi Arabia due
to alleged irregularities in feed production revealed by a probe
conducted. . .
15h41 BR Shetty on Monday stepped down as the
joint non-executive chairman of NMC Health, a company he
founded in 1975 and built up into the largest private healthcare
company in the United Arab Emirates.. . .
15h28 Indian solar power projects
worth $2.24 billion are at risk of higher costs, including
fines, due to the coronavirus outbreak in China -- a major
supplier of modules, the local arm of ratings agency. . .
15h16 Copper prices climbed to
three-week peaks on Monday after top consumer China cut interest
rates to offset the economic damage from the coronavirus, though
worries over demand for industrial metals capped gains.. . .
15h02 A team of IMF experts will begin
consultations with the Lebanese government in Beirut on
Thursday, a source familiar with the matter said, as the heavily
indebted state seeks the Fund's help in addressing. . .
14h59 Hedge funds continued selling
petroleum last week as fears about a coronavirus-driven
recession centred on China gripped the market, but the rate of
sales slowed compared with the previous fortnight.. . .
14h55 Miners at Poland's
biggest coal producer, state-run PGG, staged a two-hour strike
early on Monday, warning they will not renounce demands for a
12% pay rise and a clear national energy plan guaranteeing a
future. . .
14h49 Biotechnology company Novacyt
said on Monday that it had launched a
'CE-Mark' molecular test to help detect the coronavirus
afflicting China, marking a step forward in Novacyt's plans to
commercialise a product for the virus.. . .
14h45 Growth of global trade in goods
is likely to remain weak in early 2020, the World Trade
Organization (WTO) said on Monday, adding that the below-trend
performance could become even worse due to the. . .
14h42 Italy's fifth-biggest bank UBI
Banca aims to nearly double its net profit in the next three
years despite near flat revenues by cutting costs and reducing
losses from problem loans, it said.. . .
14h32 EU competition regulators on
Monday widened their investigation into additional incentives
granted by Spanish authorities to Ryanair and other
airlines operating at two airports in Catalonia, concerned that
they may have an unfair advantage.. . .
14h25 Romania is considering an
offer from the European Bank for Reconstruction and Development
(EBRD) to buy a 5% stake in state-owned power firm
Hidroelectrica ahead of an initial public offering this year,
the interim economy. . .
14h11 Sterling was slightly weaker on
Monday, though it maintained some gains above $1.30, after
having its best week in two months as investors priced in
looser financial conditions under Britain's new finance
minister.. . .
13h26 Britain's financial watchdog on Monday
imposed a fine of 2.8 million pounds ($3.65 million) on
Provident's vehicle-financing arm Moneybarn, which has
paid more than 30 million pounds in redress to borrowers who
were treated unfairly.. . .
13h10 Top oil traders have
rented millions of barrels of crude storage in South Korea this
month to hold excess supplies, betting on a demand spike after
China recovers from the effects of the coronavirus. . .
13h08 Government bond yields in the
euro area were mostly steady on Monday, reflecting a strong
degree of caution as markets assess the damage inflicted on the
world economy by the coronavirus outbreak.. . .
12h46 Philippine shares ended higher on Monday,
helped by last-minute buying in large caps after a sharp decline
last week, while most other Southeast Asian markets were subdued
as China's stimulus measures countered weak economic. . .
12h40 Swiss drug contract
manufacturer Lonza is preparing to mandate banks for a
stock market listing of its chemicals unit as it focuses on the
faster-growing pharmaceutical and biotech companies business,
two people close to the. . .
12h20 Africa-focussed miner Petra Diamonds
said the coronovirus outbreak had hit Chinese demand for
diamonds, forcing it to push back targets for cashflow and debt
reduction, sending its shares more than 20% lower.. . .
11h48 Macau, the world's biggest
gambling hub, will allow casinos to resume operations from Feb.
20, after authorities imposed a two-week suspension to curb
spreading of the coronavirus, public broadcaster TDM reported on
Monday, citing authorities.. . .
11h47 China's southern province of Hainan has
launched the first specially-designed insurance product to cover
losses incurred by businesses as a result of the coronavirus
outbreak in the country, the banking and insurance regulator
said.. . .
11h37 Tullow Oil said it will plug and
abandon its Marina-1 well in offshore Peru after drilling
reached maximum depth without finding oil, in another sign of
trouble for the British oil and gas explorer. . .
11h37 1/CHINA ON SICK LEAVE
A leap in coronavirus cases in Hubei gave markets pause, for all
of 24 hours. Then attention shifted back to the global
case-count and the rally resumed. But while investors. . .
11h35 The United Arab Emirates has
issued an operating licence for the Arab world's first nuclear
power plant, a senior official at the nuclear regulator said on
Monday, paving the way for it to start. . .
11h25 Thailand's economy grew at its
weakest pace in five years in 2019 as exports and public
investments slowed, adding pressure on the central bank to cut
rates to shield Southeast Asia's second-largest economy from. . .
11h07 Over two dozen large trade fairs and
industry conferences in China and overseas have been postponed
due to travel curbs and concerns about the spread of the 2019
coronavirus, potentially disrupting billions of dollars'. . .
10h57 Emerging market equities kicked off the
week on firm footing on Monday as China's move to cut its
medium-term lending rate soothed investors' anxiety around the
economic blow from a coronavirus outbreak.. . .
10h50 British money manager Jupiter
Fund Management has agreed to buy rival Merian Global
Investors for an initial 370 million pounds ($483 million) in
shares, in a deal that will make it Britain's second-largest
retail funds. . .
10h50 London's FTSE 100 recovered from two
sessions of losses on Monday, as China's moves to counter the
economic impact of the coronavirus epidemic soothed some of the
nerves which have dominated the past fortnight's. . .
10h49 China has approved the import of
all poultry products from the United States, the Ministry of
Agriculture and Rural Affairs said on its website on Monday,
including breeding birds in addition to poultry meat. . .
10h42 Japan's economy shrank at the
fastest pace in almost six years in the December quarter as a
sales tax hike hit consumer and business spending, raising the
risk of a recession as China's coronavirus. . .
10h10 Clothing and furnishing retailer Laura
Ashley said on Monday its main banking lender and
majority shareholder were in talks regarding the company's
immediate funding needs, as it reported a drop in half-year
revenue.. . .
10h08 Nearly half of the U.S.
companies in China say their global operations are already
seeing an impact from business shutdowns due to the coronavirus
epidemic, according to a poll by Shanghai's American Chamber of
Commerce. . .
10h01 China stocks ended
higher on Monday, reversing all of their early plunge triggered
by the coronavirus outbreak, as policymakers ramped up support
for the economy and companies that have been hit by a slump. . .
10h00 Britain's 1,100-year-old Royal
Mint said on Monday it will launch an exchange-traded product
this week backed by physical gold held in its vault in Wales,
which will trade on the London Stock Exchange.. . .
09h53 General Motors Co
said it would wind down its Australian and New Zealand
operations and sell a Thai plant in the latest restructuring of
its global business, costing the U.S. auto maker $1.1 billion.. . .
09h52 Switzerland-based language
tutor Education First (EF) has entered exclusive talks with
global private equity firm Permira to sell its China operations,
in a deal valuing the business at $1.6 billion, said two people
with direct. . .
09h39 Japanese stocks slid to a
1-1/2-week low on Monday, hurt by a worse-than-expected economic
contraction in the December quarter, while worries about the
business impact of the coronavirus epidemic continued to weigh
on the market.. . .
09h34 Round-up of South Korean financial
** South Korean shares closed flat on Monday as China's move to
cut a key interest rate offset worries about the economic damage
from the rapidly-spreading coronavirus outbreak. The. . .
09h04 Most Asian currencies eked out small
gains against the dollar on Monday as China's central bank cut a
key interest rate to support an economy jolted by the
coronavirus outbreak, helping counter a string. . .
08h38 Australian shares ended lower on Monday
as losses in the country's leading four banks eclipsed strong
corporate earnings, while investors weighed the near-term hit on
global growth from the coronavirus outbreak.. . .
08h28 Bank of Japan Governor Haruhiko
Kuroda said the central bank would consider additional rapid
easing if the coronavirus outbreak significantly threatened
Japan's economy and price trends, the Sankei newspaper reported
on Monday.. . .
08h25 Shares of loss-making Vodafone
Idea rose as much as 12%, after media said the
distressed Indian telecom operator would pay some of its
staggering government dues of $3.9 billion on Monday, to avoid
violating court. . .
08h20 Ukraine, the world's top exporter
of sunflower oil, increased its seaborne exports of the
commodity by around 61% so far in the 2019/20 season,
preliminary data from the APK-Inform consultancy showed on
Monday.. . .
08h13 Ukrainian grain exports from sea
ports rose to 1.17 million tonnes in the week of Feb. 8-14 from
755,000 tonnes a week earlier, preliminary data from APK-Inform
consultancy showed on Monday.. . .
07h14 Australia's QBE Insurance Group
said on Monday climate change could make some premiums
unaffordable, especially for customers exposed to extreme
weather events, and was a "material risk" for its operations
across the globe.. . .
07h01 Iranians vote on Friday in a
parliamentary election likely to reinforce Supreme Leader
Ayatollah Ali Khamenei's authority, as the country faces
mounting U.S. pressure over its nuclear programme and growing
discontent at home.. . .
07h00 Fast-growing British digital bank
Monzo plans to hire up to 500 people and forecasts it will get
5.5 million users this year, as it prepares to have another
crack at charging some customers to. . .
06h59 The yuan firmed slightly on
Monday as China's policymakers signalled more support for the
economy and businesses to offset some of the impact from the
The central bank. . .
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