confidence - Investing In Africa

Management Discussions & AnalysisOperation Review (cont’d) SBM Mauritius Asset Managers LtdSBM Mauritius Asset Managers Ltd(SBMMAM) is the fund managementarm of SBM Group. The companyprovides investment solutions toinstitutional investors, pension fundsand private clients and its goal is todeliver superior results through itsinvestment expertise and superiorinvestment platforms. SBMMAMaims to provide the appropriatesolutions based on the clients' needsand objectives by continuouslyputting its clients at the heart ofeverything it does.96Following SBMMAM's continuouscommitment towards its customers, acooperation agreement was signedwith the Union Bank of Switzerland(UBS) at the beginning of 2005.Through the full range of 175 UBSfunds, SBMMAM can now offer itsclients the opportunity to invest inforeign markets and benefit fromprofessional research, which constantlyseeks out attractive securities in thevarious investment universes.SBMMAM had Rs1,925M funds undermanagement as at June 30 2005compared to Rs1,551M at June 302004 and recorded a profit of Rs12.2Mfor the year ended June 2005,compared to Rs6.85M last year anincrease of 78%.“Our clients have the opportunity to invest inforeign markets and benefit from professionalresearch, which constantly seeks out attractivesecurities in the various investment universes”SBM Securities LtdSBM Securities is the stock brokingarm of SBM Group. It ranked thirdamongst the domestic stock brokingcompanies in terms of market shareand profitability. SBM Securities assists