DailySun
Vunani Limited, a financial services group listed on the JSE and A2X, has successfully merged its asset management division, Vunani Fund Managers (VFM), with Sentio Capital Management. This merger has created a consolidated fund management entity overseeing more than R60 billion in assets under management (AuM).
The merger was officially completed on 1 October 2025, following the fulfillment of all stipulated conditions.
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The newly formed entity will operate under the name Vunani Sentio Fund Managers, merging the strengths and investment capabilities of both brands.
VFM, which is 70% owned by Vunani Capital (a wholly owned subsidiary of Vunani Limited), now holds 100% of Sentio’s shares through a combination of a share exchange and cash payment. Additionally, Sentio’s shareholders will obtain equity interests in the newly unified VFM entity.
Post-merger, Vunani Capital owns 63% of VFM, while Sentio’s management retains 22%, and VFM’s management holds 15%.
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Investment Managers Group (IMG), which previously owned a 30.05% stake in Sentio, supported the merger but chose to divest its holdings, citing that its investment strategy was incompatible after its stake diluted to 9.29%. IMG is part of the JSE-listed Momentum Group.
‘Consolidator’
Vunani CEO Ethan Dube highlights that the merger strengthens the group’s role as a consolidator within the local asset management industry.
“Vunani is strategically positioned as a consolidator among domestic fund managers. With Sentio’s strong brand recognition, this merger will unite two significant fund management operations effectively,” stated Dube.
Dube added that this combined entity advances Vunani’s strategic focus on mergers and acquisitions, emphasizing the need for increased scale and improved shareholder value.
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This merger represents another critical corporate development for Vunani, which earlier this year announced the divestiture of a 30% interest in Fairheads Benefit Services and Fairheads Financial Services to Old Mutual Corporate Ventures.
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