PSG Financial Services, part of PSG Group led by the South African billionaire Mouton family, has hit a milestone with over $21 billion in assets under management (AUM). Despite tough market conditions, their full-year results reveal strong growth.
Total AUM for the year ending Feb. 29, 2024, jumped 15 percent to R406.9 billion ($21.40 billion). PSG Wealth led the surge with a 16 percent increase to R355.1 billion ($18.69 billion), while PSG Asset Management rose seven percent to R51.8 billion ($2.73 billion). PSG Insure also saw a notable 13 percent climb in gross written premiums to R7.0 billion ($368.47 million).
PSG Financial Services reports robust performance
The group’s strong performance was driven by its consistent growth and ability to attract new business from both existing and new clients. This led to a 23.4-percent return on equity and an 11-percent increase in recurring headline earnings per share, fueled by net client inflows of R23 billion ($1.21 billion). Core income also rose by 11 percent compared to the previous year.
PSG Financial Services CEO Francois Gouws attributed this impressive growth to the group’s ability to secure new business even in challenging conditions. He emphasized the success of their advice-led business model and expanding network of advisors, which has helped them gain market share and deliver value to shareholders.
The firm remains confident about its strategic fundamentals and prospects which align with its commitment to long-term relationships with clients which differentiates it in the markets from competitors.
PSG Group: Versatile investments, family legacy
PSG Group is a South African investment holding company, with positions in banking, education, finance, and consumer goods. The South African Mouton family owns 24.5 percent of the company, which includes stakes held by family members like Petrus and Johannes Mouton, who serve as executives in the group.
By prioritizing investment in people, technology, and infrastructure, PSG Group aims to solidify its position as a top player in South Africa’s dynamic sector, ensuring the continued generation of strong cash flows, which will enable the group to optimize its capital structure and shareholder risk-adjusted returns.
