investor services (AIS
Once the global financial markets started to expand and develop, together with
initiatives towards the centralisation and immobilisation of safe custody of
scrip, the need for a specialised place of safe keeping and administration of
financial securities was identified by Absa Bank.
this void, AIS was established in 1991, drawing expertise from specialist staff
who performed custody and settlement on a smaller scale and on an in-house basis
in the banks out of which Absa Bank was formed. Where custody and settlement
used to be a peripheral service provided by banks and trust companies in the
past, a dedicated operation with experienced staff was created to afford clients
service and guidance of the highest order.
its clients from local and foreign pension funds, insurance companies asset
managers, brokers, global custodians etc.
In 1995 Absa
Bank became the first South African Bank to enter into a strategic alliance
with a global custodian, Bankers Trust Company (BTC) at the time.
alliance with Deutsche Bank A.G., who has taken over BTC, is tried and tested
and has proven to be functional, reliable and a big asset in the array of services
provided by Absa Investor Services.
AIS provides the full range of settlement, custodial and sub-custodial services.
It acts as settlement agent in the current physical scrip environment, interacting
with the Johannesburg Stock Exchange Clearing House, and is a leading participant
in the de-materialisation of equities process currently being implemented under
the auspices of STRATE. AIS is an accredited Settlement Agent for bonds traded
on the Bond Exchange of South Africa (BESA), as well as for trades executed
on the South African Futures Exchange (SAFEX). The team also provides custodial
services for money market instruments. The full range of custodial services
The core services provided by AIS include the following -
Since 95%+ of the local issued bonds have
been immobilised in a central depository, the bulk of the securities held in
custody by AIS is made up by equities and money market instruments.
AIS is responsible for the settlement of its clients transactions concluded
on the local money, equity and bond markets.
Complete records of the client's securities under custody by AIS is kept and
maintained. Various reports are furnished to clients to provide them with the
necessary management information.
Interest and dividends on bonds, money market
instruments and equities are collected on behalf of clients and distributed
to their nominated accounts.
Since AIS's clients are required to register their financial securities,
where possible, in the name of one of AIS's nominee companies, it is possible
to advise all clients of corporate events taking place in companies inwhich
they have an interest.
the ABSA investor services route?
Specialised and dedicated staff are concentrated under one roof.
is committed to rendering sublime custody and settlement services to its clients
in the South African market.
links with its global custody alliance partner, Absa Bank affords its clients
access to more than 70 markets world-wide.
AIS has a
proven track record as a preferred custodian and settlement agent in the South