PSG - PSG Group - Voluntary Announcement: PSG Group to streamline its asset

PSG - PSG Group - Voluntary Announcement: PSG Group to streamline its asset     
management business                                                             
PSG GROUP LIMITED                                                               
Incorporated in the Republic of South Africa                                    
Registration number 1970/008484/06                                              
JSE share code: PSG & ISIN:  ZAE000013017                                       
("PSG Group")                                                                   
VOLUNTARY ANNOUNCEMENT: PSG GROUP TO STREAMLINE ITS ASSET MANAGEMENT BUSINESS   
The PSG Group has embarked on a restructuring process to streamline the holding 
company of its various asset management businesses, PSG Fund Management. The aim
is to provide for a focused and simplified asset management business to pave the
way for future growth opportunities.                                            
PSG Fund Management to date followed a strategy of growing various asset        
management boutique teams, independently from one another. This structure is now
to be abridged for more focus.                                                  
The key executives that will drive the process are Ross Breedt who will head the
marketing and sales, Adrian Clayton the equity centric asset management, JP     
Matthews the fixed interest and hedge fund asset management, Rene Miles the     
retail investment platform with Mike Smith as chief operating officer of the    
whole combined business.                                                        
Making the announcement, Jaap du Toit, PSG Fund Management chairman and co-     
founder of PSG Group, said PSG Fund Management has now reached critical mass    
with assets of more than R24 billion under administration and close to R12      
billion under management.                                                       
"To realise opportunities for future growth, we now need a more focused approach
to benefit from synergies that have developed from these successful boutique    
businesses. This will entail a simplified product range with a specifically     
branded PSG range of funds, clearly differentiated business units and combined  
research capabilities.                                                          
"The restructure of PSG Fund Management is in line with PSG Group`s strategy for
growth and is a concerted effort to create a significant player in the domestic 
asset management industry", Du Toit said.                                       
Breedt said investors want and need simplicity, not unwieldy products. The key  
is a simple and easily understandable range of products. Complexity and brand   
confusion weaken the impact for investors.                                      
PSG Fund Management distributes its products to various independent financial   
advisors including that of PSG Group`s own independent financial advisor force. 
Through this, PSG Group has acquired an enviable asset base of approximately R96
billion in retail assets, which is managed largely by various external asset    
managers.                                                                       
Testimony to the good equity fund management capability within PSG Fund         
Management is the performances of the PSG Tanzanite Flexible Fund and PSG Alphen
Growth Fund. According to 31 May 2010 Morningstar Rankings, PSG Tanzanite       
Flexible Fund was ranked top decile over 1, 3 and 5 years and ranked first in   
its sector over 2 and 3 years. The PSG Alphen Growth Fund have attained Standard
& Poors awards in 2004 and 2006 and further won a raging Bull Award in 2005 and 
was the top performing equity fund in the general equity sector in 2009.        
A refocused asset management strategy means that PSG Fund Management will be    
ideally positioned to capitalise on its existing asset management expertise,    
thereby growing its market share within the bigger PSG Group as well as in the  
wider investment market.                                                        
Issued by MediaVision on behalf of PSG Fund Management                          
Media enquiries                                                                 
Ross Breedt                                                                     
Tel: 021 799 8000                                                               
Cell: 083 627 5955                                                              
E-mail: rossb@psgis.co.za                                                       
Gerhard Cloete                                                                  
MediaVision                                                                     
Cell: 083 300 6850                                                              
E-mail: gerhard@mediavision.co.za                                               
Stellenbosch                                                                    
14 June 2010                                                                    
Sponsor to PSG Group                                                            
PSG Capital (Pty) Limited                                                       
Date: 14/06/2010 14:50:01 Supplied by www.sharenet.co.za                     
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