Financial PlanningInvestment

NMG Benefits extends investment abilities with Sequoia stake

JB Smith

Johannesburg-based advisory and intermediary firm NMG Benefits has acquired a stake in boutique discretionary fund manager Sequoia Capital Management as it looks to expand its ability to manage and execute client investments.

The deal will see Sequoia founder and director JB Smith joining the NMG executive team to head up Asset Execution in NMG’s investment consulting business. 

Sequoia was founded at the end of 2018 with an initial focus on retail portfolio management and fund management services. The NMG partnership will give the business a platform to enter the institutional multi-manager space as well.

Geoff Baars, Chairman of NMG Benefits, said the partnership would enhance the capabilities of both firms, to the ultimate benefit of their clients. 

Geoff Baars

“NMG’s clients will benefit from a greater ability to design and implement bespoke investment portfolios, faster and at lower cost. For Sequoia’s clients, it means the business has access to more resources and broader capabilities than before,” said Baars.

NMG was established in 1992, and today has a presence in 18 cities across the world, in countries like the United Kingdom, Australia, Singapore and Canada. The Group’s South African operation, NMG Benefits, focuses on employee benefits such as Healthcare Consulting, Retirement Fund Consulting, Retirement Fund Administration, Investment Consulting and Actuarial Consulting. 

Sequoia’s Smith said the two firms were ‘a perfect fit’. “NMG brings to the table investment consulting, retirement fund administration services, and its own umbrella fund, where Sequoia has strong discretionary investment management and execution capabilities. Together, we’ll be able to provide a far wider portfolio of services, and drive ongoing growth in our respective businesses.”

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