PSG Financial Services, a division of PSG Group founded by the South African billionaire Mouton family, has reached a significant milestone by managing more than $21 billion in assets. Despite the challenging market conditions, their full-year results show significant increase.
Total AUM for the fiscal year ended February 29, 2024, increased 15% to R406.9 billion ($21.40 billion). PSG Wealth led the climb, rising 16% to R355.1 billion ($18.69 billion), while PSG Asset Management increased 7% to R51.8 billion ($2.73 billion). PSG Insure also experienced a 13% increase in gross written premiums to R7.0 billion ($368.47 million).
The group’s robust success was fueled by sustained growth and the capacity to attract new business from both existing and new customers. This resulted in a 23.4 percent return on equity and an 11 percent increase in recurring headline earnings per share, boosted by R23 billion in net customer inflows ($1.21 billion). Core income also increased by 11 percent over the previous year.
PSG Financial Services CEO Francois Gouws attributed the group’s excellent success to its ability to obtain new business even in difficult circumstances. He noted the success of their advice-led business strategy and growing network of advisers, which has allowed them to increase market share and provide value to shareholders.
The firm remains confident in its strategic fundamentals and prospects, which are consistent with its dedication to long-term client relationships, which distinguishes it in the market from competitors.
PSG Group is a South African investment holding firm that operates in banking, education, finance, and consumer products. The South African Mouton family owns 24.5% of the company, including stakes held by family members such as Petrus and Johannes Mouton, who work as executives in the group.
By prioritizing investment in people, technology, and infrastructure, PSG Group hopes to cement its position as a top player in South Africa’s dynamic sector, ensuring the continued generation of strong cash flows that will allow the group to optimize its capital structure and shareholder risk-adjusted returns.
