Our investments are:
FirstRand Group (consisting mainly of, FNB, Rand Merchant Bank (RMB), Wesbank,
Momentum), OUTsurance, Discovery, RMB Structured Insurance
RMBH was constituted in 1987
RMBH was listed in November 1992
SHARE INFORMATION
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INVESTMENT CRITERIA

Shareholders will recognise the main investment criteria that we have developed for new investments as being classical "value investing" principles, namely:
  • RMBH will be seeking to make significant investments in established businesses with demonstrated, consistent earning power, expected to be mainly in financial services. We believe that our investments will probably not be less than R500 million at a time. It is unlikely that RMBH will invest in turn around or greenfield situations.
  • The businesses should have first class management teams, which should also hold a significant stake in the business, as we see RMBH entering into a long-term partnership with the management group.
  • It is intended that RMBH will fund its investments with debt. Only in exceptional circumstances will we revert to RMBH equity. Consequently, the investment will need to produce a good return on equity and have little or no debt.
  • Our shareholders should not readily be able to invest directly in the entity themselves. We do not believe that it would be appropriate for RMBH to have insignificant stakes in listed South African entities where a shareholder would be able to invest directly on a significant scale.