Discovery partners with BlackRock on global fund management company

South African insurer Discovery has announced a groundbreaking partnership with global asset manager BlackRock to launch a fund management company that aims to revolutionize the fast-growing multi-billion-rand local discretionary fund management industry. Kenny Rebson, CEO of Discovery Invest, recently appeared on CNBC Africa to provide insights into this innovative venture. Rebson explained that the discretionary fund management service is designed to assist financial advisors in navigating the complexities of the investment market and creating tailored asset management solutions for their clients. With a diverse range of investment options available globally, financial advisors require expert guidance in constructing optimal portfolios for their clients. The new partnership with BlackRock will leverage their global expertise in asset allocation and fund selection to enhance the services offered by the fund management company, named Co-gents. Additionally, local firm Riskura will provide advice on South African asset managers to ensure comprehensive portfolio construction for clients. The collaboration will also introduce advanced technology from BlackRock-owned Aladdin Wealth to streamline financial planning processes for advisors, integrating insights from Discovery's vitality behavioral science to enhance client outcomes. Discovery's unique approach includes incentivizing clients to make wise financial decisions throughout their investment journey, leveraging incentives such as boosts on investments and additional income during retirement to promote long-term financial security and healthy living. By combining expertise in asset management, technology, and behavioral science, Discovery and BlackRock are poised to reshape the fund management landscape in South Africa and empower clients to achieve their financial goals with confidence.