<\/p>\n
Challenging stock market conditions resulted in a 74% drop in performance fees at PSG Asset Management, as financial services group PSG Financial Services reported 5% growth in headline earnings in its interim results for the six months to the end of August.<\/p>\n
PSG Financial Services has three divisions: PSG Wealth, which offers financial planning, investment, stockbroking and insurance services; PSG Asset Management, which manages local and global unit trusts for individual and institutional investors; and PSG Insure, which provides personal and commercial non-life insurance.<\/p>\n
The group reported headline earnings per share of 60.9 cents against a challenging operating backdrop, with stock market performance considerably weaker in 2026 than in 2025.<\/p>\n
PSG noted that performance fees accounted for 1.9% of headline earnings, down from 7.3% in the corresponding interim period.<\/p>\n
PSG Wealth nevertheless performed in line with historical trends, while PSG Insure\u2019s investment income was much lower than the previous equivalent period, as it paid higher claims due to Western Cape storms.<\/p>\n
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Total assets under management increased by 15% to R594.1 billion. PSG Wealth accounted for R504.9 billion, an increase of 12%, while PSG Asset Management\u2019s assets under management rose by 30% to R89.2 billion. PSG Insure\u2019s gross written premiums increased by 5% to R4.2 billion.<\/p>\n
Performance fees constituted 1.9%.<\/p>\n
Weak economic growth affecting business<\/p>\n
PSG Financial Services chief executive Francois Gouws said the group remained cautiously optimistic about South Africa\u2019s prospects, while recognising that short-term volatility and uncertainty were likely to persist.<\/p>\n
\u201cWhile we remain constructive about South Africa\u2019s prospects, we recognise that short-term volatility and uncertainty are likely to persist,\u201d he said.<\/p>\n
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Domestically, Gouws said the South African Reserve Bank and National Treasury continued to provide an important anchor of macroeconomic stability.<\/p>\n
\u201cInflation and fiscal outcomes have been generally well managed.\u201d<\/p>\n
However, he noted that economic growth remained too weak to address unemployment, reduce poverty and meaningfully improve living standards.<\/p>\n
\u201cProgress has been made in several reform areas, but infrastructure constraints, uneven service delivery and policy uncertainty continue to weigh on investment and economic activity.\u201d<\/p>\n
PSG Financial Services share price<\/p>\n
#PSG #Financial #Services #lifts #earnings #performance #fees #fall #sharply<\/p>\n","protected":false},"excerpt":{"rendered":"
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