In a letter to his shareholders, Anchor Group CEO Peter Armitage said Cobus Kellermann, the alleged mastermind behind the scheme, was the controlling shareholder of Clarus Asset Management.
"We have managed two equity funds and a property fund on an outsourced basis, which is disclosed on the fact sheets of these funds. I believe Coronation, Efficient, Contego and Atlantic have performed similar outsourced services to ourselves," Armitage said.
He said allegations against Kellermann related to offshore activities and there had been no accusations or inferences regarding these local investment funds, which are regulated under the auspices of the Financial Services Board.
"My name was listed on the Clarus website, which they did when we started managing their funds, for their marketing purposes. Unfortunately I agreed to this. I have never been involved in Clarus, other than Anchor managing some of their funds, and have never met any of the other Clarus individuals other than Cobus," he said.
Armitage told Business Day that Anchor Group administered about R300m of Clarus's unit trusts out of a total of R1.35bn worth of funds that Clarus had under its belt.
"The funds we manage are 100% okay. There is just no room for impropriety," he said.
Armitage said Momentum Asset Managers and Standard Bank were trustees of the funds administered by Clarus.
A spokesperson for Momentum Asset Managers said the company would issue a statement.
A Standard Bank response to Business Day queries stated it was still determining exactly what the relationship was, if any, with Clarus.
Kellermann did not respond to calls and messages. The Clarus website appeared to have been taken down.
Kellermann was singled out as the mastermind behind the scheme by internet site offshorealert.com that reported that a number of companies he was involved with were being investigated by the Mauritian and British police concerning irregular dealings and criminal activity.
Offshorealert.com reported that the Belvedere Asset Management that is owned by Kellermann and his Irish business partner. David Cosgrove, had about R200bn under its control. Cosgrove did not return any calls.
Source: Business Day
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