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Nedgroup is flying high

Nedgroup Investments, which is headquartered in Douglas, has announced a major landmark in its fortunes.

The firm, the international asset management subsidiary of Nedbank, says it now has more than $1 billion of investments under management and advice for the first time.

The actual figure is $1.2 billion by the end of December, according to Nedgroup an overall increase of more than 50 per cent in funds it is overseeing.

The company says the $1 billion barrier was broken through after a diversification in its investment strategy.

Nedgroup Investments was established in the Isle of Man in 1992, and is part of the South African Nedbank.

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