Sanlam acquires Caerus' discretionary arm

Sanlam UK has acquired Caerus Portfolio Management as part of a deal which will see it take a 20% stake in the Caerus adviser network.

The deal, which is awaiting regulatory approval, also gives Sanlam the option to buy the remainder of the network in three years' time. Caerus Portfolio Management will outsource investment to Sanlam FOUR following completion of the deal. Salam CEO Lukas van der Walt said the acquisition was part of Sanlam's expansion drive and will create a vertically integrated distribution model. He said: "Caerus operates an integrated wealth management model that suits us perfectly. Financial advice of the highest standard delivered through its network of restricted and independent members with...