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SOEs already talking to Futuregrowth

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Cape Town - It is important to see the decision by Futuregrowth Asset Management to halt any further loans to certain key SA state-owned enterprises (SOEs) as an investment decision, Dave Macready, chief executive of Old Mutual SA, told Fin24 on Thursday.

Futuregrowth is SA's biggest private fixed-income money manager with about R170bn in assets. It is one of a number of so-called asset management boutiques owned by Old Mutual.

Futuregrowth decided earlier this week to halt further loans to six key SOEs, namely Eskom, Transnet, the SA National Roads Agency (Sanral), Landbank, the Industrial Development Corporation (IDC) and the Development Bank of Southern Africa (DBSA).

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