Brooks Macdonald International has announced a deal with Sanlam’s Glacier International arm that will make its investment management services available to international investors living in South Africa.
Effective immediately, customers of Glacier International’s Global Life Plan will have access to BMI’s full range of products and services, including its risk-rated, multi-asset and single strategy (bond and equity) portfolios, Brooks Macdonald said in a statement.
Brooks Macdonald International (BMI), an arm of the UK-based Brooks Macdonald wealth management group, said that offshore investors would be able to take advantage of all of the Global Life Plan’s benefits, including tax and estate-planning advantages.
BMI business development director Lindsay Bateman, pictured, said the move was part of a general commitment to South African market.
The ability of Brooks Macdonald’s range of investment products to invest “in a wide variety of vehicles across the full spectrum of asset classes”, he added, made it well suited to South African investors in particular “who are increasingly looking to diversify their asset base”.
The Brooks Macdonald Group currently manages more than £7bn in funds on behalf of investors, according to the company.
South Africa-based Glacier International was launched in 2010 by Glacier Financial Solutions (Pty), a wholly-owned subsidiary of the Johannesburg Stock Exchange-listed, South Africa-based life insurance giant Sanlam. Glacier International managing director Andrew Brotchi said Brooks Macdonald’s experience in managing multi-asset, multi-currency investment portfolios would make it a “strong fit” with Glacier’s international product range.