Ninety One Launches AMCs
South Africa’s investment landscape is evolving, and Ninety One, the country’s largest asset manager, is leading the charge. The firm has introduced Actively Managed Certificates (AMCs) – a move that promises to give investors and advisers more flexibility, transparency, and speed in accessing active strategies.
What Are AMCs?
An AMC is a listed security that mirrors an actively managed portfolio. Think of it as a bridge between traditional unit trusts and exchange-traded instruments. Unlike conventional funds, AMCs can be launched quickly, tailored to specific themes, and traded on an exchange – making them ideal for investors who value liquidity and customization.
Why Price Them Like Traditional Funds?
Ninety One has chosen to price AMCs at the same cost as its existing funds. This is deliberate. The message is clear: you’re paying for active expertise, not the wrapper. The AMC structure isn’t about being cheaper; it’s about offering new channels of access without compromising quality or governance.
The ISIN Connection – Familiarity Matters
One subtle but important feature of AMCs is their International Securities Identification Number (ISIN). Just like a traditional equity or bond, an AMC carries an ISIN, making it recognizable and easy to integrate into brokerage systems. For investors and advisers, this means:
- Operational simplicity: AMCs settle and clear like shares.
- Portfolio familiarity: They appear alongside equities in custody accounts.
- Ease of reporting: ISIN-based instruments fit seamlessly into existing compliance and reporting frameworks.
This similarity reduces friction for advisers and clients who are used to listed securities, while still delivering the benefits of active management.
The Advantages for Investors and Advisers
- Speed to Market: AMCs can be launched in weeks, enabling rapid response to market trends.
- Broader Distribution: Listed instruments appeal to stockbrokers, family offices, and high-net-worth investors who prefer exchange-traded solutions. But now easily accessible from platforms like https://alta-x.com
- Transparency & Liquidity: AMCs trade on regulated exchanges, offering visibility and ease of exit.
- Customization: Advisers can access thematic or bespoke strategies without waiting for a new fund structure.
Why Does This Matter Now?
Global investing is shifting toward flexible, listed solutions that combine active skill with modern accessibility. For South African investors, AMCs represent an opportunity to diversify beyond traditional unit trusts without sacrificing professional oversight. They’re not a discount product – they’re a premium innovation for a changing market.
As Ninety One positions AMCs alongside actively managed ETFs, the message is clear: active management is adapting to new investor channels. For advisers, this means more tools to deliver tailored solutions. For investors, it means choice, liquidity, and innovation – all backed by the same trusted expertise.
