South African PSG Investment Services Moves Into Mauritius

by Carla Johnson, Investors Offshore.com

24 May 2001

The South African investment arm of the independent financial services group, PSG, has linked up with Mauritius-based Intercontinental Trust Limited (ITL) to extend its presence in the offshore jurisdiction. Deputy chief executive of PSG Investment Services, Martus Claassen, told news resource zafinance that the alliance will open up opportunities for clients to gain access to financial services advice not only on Asian but worldwide markets.

'When viewed against a backdrop of highly favourable Mauritian financial legislation and an excellent degree of confidentiality, these services are sure to prove invaluable to PSG Investment Services' clients,' said Mr Claassen.

PSG caters to all investment requirements of high net worth individuals. ITL, licensed by the Mauritius Offshore Business Activities Authority, provides a wide range of financial services to the international business sector.

According to managing director of ITL, Ben Lim, the alliance will benefit both companies, particularly with regard to back office support activities and the exchange of services between Mauritius and South Africa. He claimed: 'ITL is already providing back office services to numerous international and South African businesses. Our ability to tailor the back-office support functions, combined with the benefits of our favourable positioning in terms of worldwide time zones, is proving attractive.'

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