Bifm escapes equity markets downturn :: Mmegi Online

Bifm, the asset management arm of BIHL, has escaped the major downturn in equity markets resulting from the American sub-prime crisis that hit world markets, especially in the US and Europe.

Bifm CEO Victor Senye said despite facing market volatility, inflationary pressures and limited investment products, the company's overall returns and clients were positive for the year in both real and nominal terms. Assets under management grew more than 20 percent to P15.1 billion for the year ended 31 December 2007.

Speaking at the presentation of BIHL's results for 2007, Senye said it was notable that Bifm had retained the majority of its clients and signed on new ones in spite of competitive forces. A consortium in which Bifm is a shareholder was awarded public private partnership (PPP) contracts and the contract for the construction of office space for the new SADC headquarters, while construction of the Office of the Ombudsman and the Land Tribunal has commenced.

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Bifm escapes equity markets downturn

Bifm, the asset management arm of BIHL, has escaped the major downturn in equity markets resulting from the American sub-prime crisis that hit world markets, especially in the US and Europe.

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