Liberty’s Stanlib to Shut Some Funds as Munro Revamp Takes Shape
- CEO’s team is working with money manager to improve returns
- Of 19 equity funds, only one consistently beat its benchmark
The Central Business District in Johannesburg.
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Stanlib, the South African money manager owned by Liberty Holdings Ltd., plans to close down some of its 19 equity funds to boost returns as part of a restructuring.
“We’re going to rationalize the product suite and are assessing which equity funds still have demand and relevance,” Herman van Velze, Johannesburg-based Stanlib’s head of equities, said on Monday. Some funds will close early 2018 and the range of mandates will be narrowed without any job losses, he said.