This Citywire article examined the asset management fees and investment performance, citing an actuarial report. However, throughout the 19-year relationship between the client and asset manager, neither fees nor performance were previously addressed prior to the alleged termination of the investment mandate, which has now become the subject of legal proceedings. Mergence’s response to the findings of the Caelum report via an answering affidavit is also depicted in the article as being ‘patently incorrect and misleading’. (An analysis of the fees and performance is available from Mergence on request.)
Despite some market ‘overexcitement’ about AI, Naspers is bullish about making more bets
The latest Naspers/Prosus financial results show a jump in profitability across the group’s ecommerce portfolio and Tencent growth acceleration. Commenting