New owners for M Cubed

The Fidentia Group gets FSB approval to change the shareholding of the m Cubed Unit Trust Management company.

The Fidentia Group today received FSB approval to change the shareholding of the m Cubed Unit Trust Management Company, signalling the final step in administrative process, following Competition Commission approval in September

Speaking from her office in Cape Town, the recently appointed head of the Fidentia unit trust business, Angelique Tostee, said: “Through the approval process we worked closely with the FSB and have established a good working relationship. We are impressed with their efforts in expediting the approval process and look forward to fostering a long lasting relationship.”

Tostee also confirmed that the approval means that the business can now move into the next phase of their strategy.

“Through the joint management process, since Competition Commission approval, we were able to gain insight into the current business operations. We will now focus on refining the product and service offering through upgrading the existing infrastructure and capability to take an exciting and compelling value proposition to market in 2006.”

“We want to become known as a management company that delivers top performing portfolios and outstanding services,” says Tostee.

“As part of our drive to refine the existing portfolios and service offering, we will be canvassing our client base in January. There will also be a rebranding exercise that will commence in the new year, and we are currently finalizing our new look and feel.”

According to Tostee the Fidentia Group is excited about the prospects of the Management Company. “The Fidentia Group is an enablement company that has identified the collective investment scheme license as a key enabler of financial solutions for our customers.” At a group level Fidentia believes the existing capability in the Fidentia Group will provide significant leverage in the growth of the business, especially when it comes to providing state of the art technology and infrastructure.