Comarton Managed Pension Funds Investment Consortium
Creation of Comarton Managed Pension Funds Investment Consortium (“Consortium”) in 2007 made up of Pension Funds under the management of Comarton, with the general aim of:
Securing common and strong capital base for participants and hence mastering both negotiating power and influence in both listed and unlisted entities;
Pursuit of direct property investments using the muscle of the consortium to negotiate competitive purchase prices and also obtain capital and rental growth in such investments;
Secure better returns on investments based on bulk conglomeration of net monthly investable resources as a block;
Negotiate and launch a common custodial service programme, en-block, at a lower cost to Pension Funds;
Death-in-service financing and funeral services programme through the Consortium Self-Insurance Pool; and
Post-Retirement Healthcare programme for pensioners.
Investor Protection Fund
Comarton was, in 2012, appointed as Fund Administrator to the Investor Protection Fund (IPF).
The IPF was established through the Zimbabwe Securities Amendment Act number 2 of 2013;
The IPF was primarily set-up to protect the investing public from malpractice and insolvency of Zimbabwe Securities and Exchange Commission regulated entities;
The IPF had assets worth US$4.8 million as at 30th June 2023.
Unclaimed Shares Portfolio
3.In 2013, Comarton was further awarded by the Zimbabwe Securities and Exchange Commission the additional mandate of managing the Unclaimed Share Portfolio.
The Unclaimed Share Portfolio is made up of shares which were bought by the investing public which were left in the custody of registered Stockbrokers;
In order to protect these investors, the Zimbabwe Securities and Exchange Commission directed that all the shares under custody of Stockbrokers be surrendered to a registered custodial service provider;
The value of the portfolio was approximately US$2.7 million as at 30th June 2023 with about 31,000 share certificates.
Private equity partnership
Arden Enterprises Limited
Comarton took leadership in introducing private equity investments as alternative asset class to Pension Funds under management, through a the then private equity management firm, Arden Enterprises Limited to achieve the following:
Take advantage of investment opportunities as they occur;
Deal with internal distortions in terms of market exposures;
At formation, the major shareholders of Arden Enterprises Limited were Comarton managed Pension Funds represented by the Consortium. Arden Enterprises Limited has investments in the hospitality and real estate sectors with the major asset being African Sun Limited, Zimbabwe’s premier hotel management group.
Arden Enterprises Limited successfully listed on the Johannesburg Stock Exchange in October 2017 creating more value to Pension Funds under our management.
The company has since delisted from the JSE and its major asset African Sun Limited is now listed on the Victoria Falls Stock Exchange. www.africansunhotels.com