FNB is this year’s winner for Africa's best bank for discretionary portfolio management. Not only did the regional lender’s discretionary solutions deliver a strong performance compared with its peers, but the bank also continued to innovate to meet new client needs in 2023.
Importantly, the bank’s managed portfolios recorded a remarkable performance during the judging period. FNB’s multi-asset solution outperformed the local multi-asset high equity peer group, delivering 15.5% over the review period, compared with 13%. In addition, returns on the private client house-view portfolio, FNB Wealth Solutions, stood at 15.52%.
The outperformance was mainly thanks to its equity portfolio, which delivered returns of 17.7%, and its Global Select exchange-traded note (ETN), which delivered 40.5% over the period. Clients like this product for its complementary exposure to direct holdings.
FNB’s managed portfolios recorded a remarkable performance during the judging period
A key contributor to the bank’s success was its work to make its discretionary portfolio management services more efficient overall.