The sale of its active asset management business in South Africa and the UK to Anglo-South African asset manager Ninety One, allows Sanlam to fine-tune the group’s active single-manager capabilities, says Carl Roothman, CEO of Sanlam Investments.
The South African leg of the deal became effective on Monday, adding about R400bn to Ninety One’s assets under management as it marches towards the R4-trillion mark.
The deal establishes Ninety One as Sanlam’s primary active asset manager for single-managed local and global products, with the added advantage of preferred access to Sanlam’s extensive South African distribution network.
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“After the transaction, Sanlam Investments remains one of the largest asset managers in South Africa and on the continent with more than R1-trillion in assets under management and we are now operating from a position of renewed strength,” Roothman said.
“The future belongs to multiskilled asset managers who develop customised solutions that offer investors deeper diversification, more access points and purposeful outcomes. By combining our in-house expertise with that of our specialist partners, Sanlam Investments is perfectly positioned to meet this demand.”
The Sanlam group has received an equity stake of about 12.3% in Ninety One through a combination of Ninety One Ltd and Ninety One Plc shares establishing Sanlam as a long-term shareholder of Ninety One.
Ninety One CEO Hendrik du Toit said the strategic relationship enables Sanlam Investments to focus its resources on the areas where it is building distinctive leadership.
“The completion of this transaction marks the beginning of a long-term partnership built on complementary strengths and a shared commitment to clients, who stand to benefit from the proven capability and resources of South Africa’s leading globally integrated active investment manager.
“This is a considered, future-focused relationship and a meaningful investment in South Africa’s savings and investment landscape,” he said.
Sanlam, the largest nonbanking financial services provider on the continent, said in 2025 it was well-positioned to grow earnings via its wealth and asset management business in India.
Indian financial services conglomerate Shriram Group launched Shriram Wealth, in partnership with Sanlam. The 50:50 joint venture brought together more than 150 years of combined wealth management acumen.
The relationship between Sanlam and Shriram started in 2004. At the time the Cape Town-based group was eager to expand its presence outside Africa and the two countries that came out on top were China and India.
Shriram Finance has grown to be India’s second-largest retail nonbanking financial company, with a loan book of about R550bn, and a dominant position in the pre-owned commercial vehicle and two-wheeler financing market.
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