Asset managers celebrate 10 yrs

NAMIBIA Asset Management Limited (NAM) celebrated its 10th anniversary at an event held in Windhoek last week.

The company says it has grown significantly since its establishment in 1996 to become one of the largest independent fund managers in Namibia, growing from N$1,1 billion at the end of July 1996 to N$7 billion in July 2006. NAM, then known as Namibian Harvest, listed on the Namibian Stock Exchange in 1998 and is the only locally listed asset management company.The company has a local shareholding of 52 per cent.NAM Chief Executive Officer Albert Bertolini said his company cherished the challenges and experiences it had learnt in the last 10 years, and was looking forward to the next decade in business.”Our main aim is to preserve the core of our business and to stimulate progress around the core …and the core purpose for existence of NAM is to guard and grow the wealth of the Namibian people,” said Bertolini.The guest of honour at the event, Finance Minister Saara Kuugongelwa-Amadhila, congratulated NAM on its achievements.She took the opportunity to once again call for a Financial Services Charter, which would regulate the industry and involve Namibians from all sectors of society, and in turn boost business development and economic growth.The first draft of the FSC is expected to be completed and handed over to the Government by year-end.Said Kuugongelwa-Amadhila: “If the industry works hard to promote good corporate practices, this will promote mutual trust and co-operation between the industry, the supervisory authority and Government.”I have no doubt that Namibia Asset Management Limited strives towards these ideals and I want to assure you of the support of the Government in all your endeavours.”NAM, then known as Namibian Harvest, listed on the Namibian Stock Exchange in 1998 and is the only locally listed asset management company.The company has a local shareholding of 52 per cent.NAM Chief Executive Officer Albert Bertolini said his company cherished the challenges and experiences it had learnt in the last 10 years, and was looking forward to the next decade in business.”Our main aim is to preserve the core of our business and to stimulate progress around the core …and the core purpose for existence of NAM is to guard and grow the wealth of the Namibian people,” said Bertolini.The guest of honour at the event, Finance Minister Saara Kuugongelwa-Amadhila, congratulated NAM on its achievements.She took the opportunity to once again call for a Financial Services Charter, which would regulate the industry and involve Namibians from all sectors of society, and in turn boost business development and economic growth.The first draft of the FSC is expected to be completed and handed over to the Government by year-end.Said Kuugongelwa-Amadhila: “If the industry works hard to promote good corporate practices, this will promote mutual trust and co-operation between the industry, the supervisory authority and Government.”I have no doubt that Namibia Asset Management Limited strives towards these ideals and I want to assure you of the support of the Government in all your endeavours.”