The ASISA Enterprise and Supplier Development (ESD) Fund, managed by specialist ESD firm Edge Growth, introduced the Stockbroker Development Programme in August 2016.
The programme, now in its second year, was made possible by funding from Coronation Fund Managers, Investec Asset Management, Old Mutual Investment Group, Prudential Investment Managers, STANLIB and Sanlam Investment Management. The funding received from these sponsors provided sufficient capital for five black-owned stockbroking businesses to participate in the three-year programme.
Following the successes achieved in the first year, the programme attracted two additional sponsors, namely Futuregrowth Asset Management and Taquanta Asset Management. With additional funding secured the Fund is now in a position to launch a second phase later this year, which can accommodate all interested black-owned stockbroking businesses.
