Our asset management business had a humble start back in 1964 and has evolved over the years, changed ownership a number of times (at some stage forming part of Mercantile Bank) and became part of the JSE listed Indequity Group in 2001. Over the next few years a lot of development work was done and the asset management division converted their existing wrap funds into more tax efficient unit trusts in December 2004. Itransact Fund Managers was also officially established at this time under the Indequity brand, becoming an integral part of the asset management division.
Following the restructuring of the Indequity Group in 2010, IFM became an independent Collective Investment Scheme Manager and in time became jointly owned by the international Heiden Grimaud Group and the well respected AOS Group. AOS, a local fund administration company, had always performed the underlying back office administration of initially the wrap funds and then the CIS portfolios (unit trusts). Additional capital was introduced into the business during 2014 when AOS acquired its stake, further strengthening our balance sheet.
We adopted the Itransact brand, which has been a part of the AOS business for a number of years towards the end of 2015. This was done in order to further distinguish and position our collective investment scheme business for the future.
IFM currently has a small offering of its own CIS portfolios that we hope to expand in the near future as well as utilising the expertise within AOS to provide tailor made passive portfolios and offering co-branded portfolios within the fund management industry.
Board of Directors
Mark qualified as a CA (SA) in 1996 after completing his articles at Deloittes. After working in various banks in London for 3 years, he returned to South Africa and joined Automated Outsourcing Services in 2000 where he has held various positions over the years. He is a director of AOS, its Nominee Company and its Guernsey domiciled Protected Cell Company. Mark is currently the managing director of IFM.
Johan qualified as a CA (SA), passing the IRBA board examination in 1988, and after completing his articles at Deloittes started his own audit and consulting practice. He is a director of Heiden Grimaud (Africa) and Heiden Grimaud Asset Management. Johan is currently the independent chairman of IFM.
Mark has a Bachelor of Accounting and has passed Part 1 of the PAAB qualifying exam. Prior to joining Automated Outsourcing Services in 1999 as Group Financial Manager, he spent 4 years at Standard Bank Properties as a Financial Accountant. He was Operational Director prior to becoming Managing Director of AOS in 2011. He is also a Director of AOS’s Nominee Company and its Mauritian subsidiary. Mark is currently an executive director of IFM.
Chris qualified as a CA (SA) and holds a Masters degree from the University of Johannesburg. He is founder and managing director of Heiden Grimaud (Africa). He is a Key Individual at Heiden Grimaud Asset Management and actively manages the IFM portfolios. He was the co-founder and chairman of the Indequity Group until 2012 when he retired from the position to focus exclusively in the development and growth of the Heiden Grimaud Group. Chis is a non-executive director of IFM.
Justin holds a BSc in Engineering and a Master’s Degree in Electronic Engineering from Stellenbosch University. He started his career life in the aerospace industry before moving to the asset management industry. He is the founder and chief investment officer of Sunstrike Capital. He is a director of AOS’s Guernsey subsidiary as well as Heiden Grimaud Asset Management. Justin is an independent director of IFM.