CHAMWE KAIRA
Namibia Asset Management (NAM) has announced that assets under management (AuM) increased by 19.5% to N$20.2 billion (September 2023: N$16.9 billion) for the year ending 30 September 2024.
“The operating environment has been volatile and challenging for several years. During this time, NAM’s long-term investment approach and track record, together with prudent expense management, have delivered value to clients and shareholders. We remain excited by the return prospects available to active managers,” the company said.
Looking ahead, NAM said it remains confident and has positioned the company for continued success in a demanding landscape.
“We believe that investors who embrace a long-term perspective will be well rewarded while we continue to create value for the benefit of all our stakeholders,” NAM said.
The company said Namibia stands at a pivotal moment in its economic journey, particularly following recent oil discoveries that highlight significant potential.
NAM said retail AuM grew by 13% to N$2.6 billion (September 2023: N$2.3 billion), while institutional AuM increased by 20.5% to N$17.6 billion (September 2023: N$14.6 billion).
Strong market performance and net inflows of N$284 million contributed to the N$3 billion increase in total AuM.
The revenue increased by 3.7% to N$81.3 million (September 2023: N$78.5 million).
“This was primarily a result of most of our AUM growth being recorded in the latter part of the year. While revenue increased, total operating expenses also increased due to heightened investments in key resources,” the company said.
NAM said it is prioritising the upcoming regulatory changes associated with the Financial Institutions and Markets Act (FIMA). As of October, the Namibia Financial Institutions Supervisory Authority has finalised and communicated the relevant standards.
“We anticipate that FIMA will come into effect in early 2025, with a 12-month transition period granted by the regulator. We will collaborate closely with all stakeholders to ensure full compliance within this timeframe,” the company said.
In terms of social responsibility, NAM said as a responsible corporate citizen, it is committed to making a meaningful positive impact on society through its Corporate Social Investment (CSI) programmes, with a strong focus on training and education.
The company said its bursary scheme, administered in partnership with the University of Namibia Foundation, and its Certificate in Theory of Accounting (CTA) program, in partnership with Deloitte Namibia, underscore its commitment to supporting eligible undergraduate students pursuing finance-related degrees.
“The operating environment has been volatile and challenging for several years. During this time, NAM’s long-term investment approach and track record, together with prudent expense management, have delivered value to clients and shareholders. We remain excited by the return prospects available to active managers.“
