DISCOVERY
INVEST

Discovery Invest aims to deliver superior returns to investors by offering innovative investment products that are aligned to the Vitality Shared-Value Insurance model and are both tax and fee efficient.

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DISCOVERY
INVEST

OUR PERFORMANCE IN 2016

Discovery Invest experienced excellent performance over the reporting period. The business targets market leadership with continued product innovation in the investment savings industry in South Africa. The focus this year has been on launching market-leading pre and post-retirement products.

Over the reporting period, new business in Discovery Invest grew by 17% to R1 932 million. Assets under administration increased by 21% to R60.95 billion. This strong performance has seen operating profit increase by 22% to R563 million. As a consequence of efficiencies from greater scale, the income from asset management fees net related of costs, increased by 46%.

We have seen strong interest in the range of retirement products underpinned by the Vitality Shared-Value Insurance model. These products recognise increased retirement needs due to longevity and incentivise responsible investment behaviour.

Kenny Rabson

Discovery Invest,
Chief Executive Officer

Kenny Rabson
Broomberg

Discovery Insure,
Chief Executive Officer

PERFORMANCE MEASURES FOR THE FINANCIAL YEAR

SHARED-VALUE BENEFITS AND UNIQUE FEATURES OF DISCOVERY INVEST

Significant social benefits are created when clients are supported in responsible pre and post-retirement planning.

Our research has consistently indicated that a greater focus on longevity and wellness by clients supports financial responsibility and responsible retirement planning. Funds remain invested for a longer period, generating surplus profits and thus improving the profitability of our business, as well as creating benefit for clients and society.

PROGRESS TOWARDS OUR
2016 STRATEGIC
OBJECTIVES

In our previous report, we outlined strategic objectives in a number of key areas. In this section we report on our progress.

Increase market share and growth in assets under our administration through the development of innovative offerings, aligned and integrated with other Discovery business areas

During the year, assets under our administration experienced growth of 21% to reach R60.95 billion by June 2016.

We continued to look for innovative ways of encouraging saving, applying the same shared-value principles that have been successful in other businesses within Discovery.