QUES­TION­ABLE AC­TION

Finweek English Edition - - INVESTMENT -

So Old Mu­tual* is fi­nally com­ing home, in a sense. Since list­ing the com­pany, it spent the bet­ter part of a decade un­de­cided about whether it was a global com­pany or an emerg­ing mar­ket African-fo­cused com­pany. In re­cent years it has worked that out (with the lat­ter be­ing the an­swer) and it is now un­bundling its US As­set Man­age­ment busi­ness. The scep­tic in me won­ders if it is un­bundling its US As­set Man­age­ment busi­ness be­cause it can’t sell it, es­sen­tially leav­ing share­hold­ers car­ry­ing the can.

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