Vunani subsidiary to merge with Sentio Capital, forming new fund manager

Vunani Fund Managers Proprietary Limited (VFM), a 78% owned subsidiary of Vunani Capital Proprietary Limited, has agreed to merge with Sentio Capital Management Proprietary Limited. Following the transaction, VFM will own 100% of Sentio, creating Vunani Sentio Fund Managers with combined funds exceeding R60 billion. This consolidation aims to enhance offerings to clients by integrating complementary skills, experience, and investment products. As consideration, VFM will issue 44,754 ordinary shares to Sentio’s shareholders and provide a cash consideration.

Following the transaction, the shareholding of VFM will be restructured, with Vunani Capital owning 63%, current VFM management 15%, and current Sentio management 22%. Investment Managers Group (IMG), a 30.05% shareholder in Sentio, will exit its holding.

The transaction is subject to several suspensive conditions, including the agreement becoming unconditional by 3 October 2025, and the entry into new employment agreements by Sentio's key executives with VFM. The effective date of the agreement is set for 1 October 2025.