Stanlib
Encyclopedia
STANLIB is an asset manager based in Johannesburg
with a footprint in 7 Africa
n countries. The company was formed in 2002 when Liberty Life and Standard Bank
’s asset management and wealth businesses merged. It is the biggest unit trust
company by market share
, managing capital for over 400 000 clients. It runs the oldest existing unit trust in South Africa
. As of 2010, STANLIB had over R317.8 billion in assets under management
.
interests to form STANLIB.
STANLIB's roots go back to 1862 when the Standard Bank of British South Africa was founded in London
. It became a South African bank in 1962. Life assurer Liberty Life was launched in 1957. The first unit trust was launched by Guardbank Management Corporation Ltd in 1970. Operations were expanded to Uganda
and Botswana
in 1992, Namibia
in 1994, and Swaziland
and Kenya
in 1999. Lesotho
followed in 2001.
STANLIB (a merger of seven Standard Bank and Liberty Life businesses) was launched in May 2002. The amalgamation of various unit trust ranges followed in 2004. The Safika BEE consortium acquired a 25% stake in STANLIB in 2003 and Saki Macozoma
became the chairman. Another BEE grouping (Quantum Leap Investments) bought a further 12.6% a year later. Effective BEE ownership had reached 33% by 2004. Constant product innovation
, in South Africa and across Africa, contributed to sustained growth after 2002. In June 2006 corporate reinvention transformed STANLIB: 15 investment franchises were formed, each run by autonomous team responsible for best-of-breed solutions and superior performance. That year the wealth business (the unit trust ‘product factory’) was integrated with asset management functions. Later in 2006, a distribution and client support function was established in the UK, paving the way for the development of products targeted at international investors.
offices on the continent has achieved the objective of delivering local product to meet the demand of local conditions and investment
needs.
Johannesburg
Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa...
with a footprint in 7 Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
n countries. The company was formed in 2002 when Liberty Life and Standard Bank
Standard Bank
The Standard Bank of South Africa Limited is one of South Africa's largest financial services groups. It operates in 30 countries around the world, including 17 in Africa.-History:...
’s asset management and wealth businesses merged. It is the biggest unit trust
Unit trust
A unit trust is a form of collective investment constituted under a trust deed.Found in Australia, Ireland, the Isle of Man, Jersey, New Zealand, South Africa, Singapore, Malaysia and the UK, unit trusts offer access to a wide range of securities....
company by market share
Market share
Market share is the percentage of a market accounted for by a specific entity. In a survey of nearly 200 senior marketing managers, 67 percent responded that they found the "dollar market share" metric very useful, while 61% found "unit market share" very useful.Marketers need to be able to...
, managing capital for over 400 000 clients. It runs the oldest existing unit trust in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
. As of 2010, STANLIB had over R317.8 billion in assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
.
History
STANLIB was acquired in 2007 by Liberty Life. They are core contributors to the Liberty Wealth vision of complementary financial solutions across a single platform. Wealth products are designed to meet diverse needs in South Africa, Africa and beyond. Full Liberty control completed a process that began in 2002 when Liberty Life and Standard Bank merged their asset and wealth managementWealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...
interests to form STANLIB.
STANLIB's roots go back to 1862 when the Standard Bank of British South Africa was founded in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. It became a South African bank in 1962. Life assurer Liberty Life was launched in 1957. The first unit trust was launched by Guardbank Management Corporation Ltd in 1970. Operations were expanded to Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
in 1992, Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
in 1994, and Swaziland
Swaziland
Swaziland, officially the Kingdom of Swaziland , and sometimes called Ngwane or Swatini, is a landlocked country in Southern Africa, bordered to the north, south and west by South Africa, and to the east by Mozambique...
and Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
in 1999. Lesotho
Lesotho
Lesotho , officially the Kingdom of Lesotho, is a landlocked country and enclave, surrounded by the Republic of South Africa. It is just over in size with a population of approximately 2,067,000. Its capital and largest city is Maseru. Lesotho is a member of the Commonwealth of Nations. The name...
followed in 2001.
STANLIB (a merger of seven Standard Bank and Liberty Life businesses) was launched in May 2002. The amalgamation of various unit trust ranges followed in 2004. The Safika BEE consortium acquired a 25% stake in STANLIB in 2003 and Saki Macozoma
Saki Macozoma
Sakumzi J. Macozoma is a South African businessman, politician, and former political activist.Sakumzi Macozoma was born in Port Elizabeth on 12 May 1957....
became the chairman. Another BEE grouping (Quantum Leap Investments) bought a further 12.6% a year later. Effective BEE ownership had reached 33% by 2004. Constant product innovation
Product innovation
Product innovation is the creation and subsequent introduction of a good or service that is either new, or improved on previous goods or services of its kind...
, in South Africa and across Africa, contributed to sustained growth after 2002. In June 2006 corporate reinvention transformed STANLIB: 15 investment franchises were formed, each run by autonomous team responsible for best-of-breed solutions and superior performance. That year the wealth business (the unit trust ‘product factory’) was integrated with asset management functions. Later in 2006, a distribution and client support function was established in the UK, paving the way for the development of products targeted at international investors.
African operations (outside of South Africa)
STANLIB Africa has been operational since 1997. Since its inception, STANLIB Africa has secured retail and institutional mandates in 8 countries outside South Africa, the hub of the group's investment and technical expertise. The establishment of 6 STANLIB subsidiarySubsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
offices on the continent has achieved the objective of delivering local product to meet the demand of local conditions and investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
needs.