Integration a key future focus for Efficient Group Limited


The group recorded an increase in revenue to 45.8 million rand for the six months ended 28 February 2014, from 36.8 million rand in the comparative period. 

Financial services income also took a similar turn by increasing to 20.4 million rand for the period under review from 14.3 million rand in 2013.

“The implementation of best market practices at Efficient Select resulted in the restructuring of the fee structures of a number of investment portfolios,” the group said in a statement.


“The change in fee structures resulted in lower performance fees but supports more sustainable base fees when the portfolios perform at benchmark.”

Efficient group Limited is a South Africa-based financial services firm specialising in the provision of financial services to private clients, financial advisors and institutional investors. The group is also a holding company of Efficient Advise, Efficient Select, Efficient Invest and Efficient Capital.

(WATCH VIDEO: Efficient Group 2013 FY revenue up 43%)

Within its asset management fees section, base fees increased to 19.2 million rand from 11.8 million rand in the previous year, but performance fees however decreased to 5.7 million rand from 10.4 million rand in the previous comparative year.

The group also reported an operating loss of 1.1 million rand from two million rand in 2013. Operating expenses for the six months ended 28 February 2014 increased to 44.7 million rand from 34.8 million rand.

Efficient group’s Investment business segment in particular reported revenue a 13 per cent increase in revenue to 32 million rand for the period under review, as a result of the new investment consulting activities and synergies from the Verso Investment Services (VIS) acquisition.

The group acquired all of VIS’s shares for a cash price of 45.7 million rand in December 2013.

Similarly, revenue for the group’s asset management, consultation and administration segment increased to 31.9 million rand for the period under review from 28.3 million rand in the previous comparative period in 2013.

Revenue for the financial services segment also increased to 18.7 million rand from 12.8 million rand in the previous year, and revenue for Efficient’s asset management segment increased to 1.9 million rand from 1.5 million rand in the previous year.

“A key focus for the group for the next six to 12 months will be to ensure the successful roll out of Efficient Invest and the integration of VIS into the Efficient Group,” Efficient explained.