DST International (DSTi) says that MedInvest (Pty) Ltd, a wholly-owned subsidiary of Medscheme Limited, has bought its HiPortfolio/3 portfolio administration and fund accounting solution.
Medscheme, founded in 1971, offers health fund management services to over 2.5 million South Africans. With a market share of approximately 35%, Medscheme is Africa’s largest private health fund administrator. MedInvest was established in 1994 to provide medical schemes with a specialised investment management service involving the investment of their short-term assets. MedInvest currently manages assets in excess of R2.7 billion.
“We are one of the few companies in South Africa to offer consulting services and asset investment management to medical schemes,” says Willem Smith, managing director of MedInvest. “Our approach is to outperform the benchmark set by our clients and we believe that HiPortfolio/3 will provide that platform, and even able us to expand our offerings to our clients. With HiPortflio, MedInvest has acquired a multi-faceted platform that supports the most comprehensive range of investment instruments and products that will preserve our clients’ capital investments.”
Marisa Bellini, DSTi’s South African Director, claims HiPortfolio/3 will ensure the MedInvest back office remains “futureproof.”