Old Mutual shareholders proposed to the firm should venture into offshore investments, to which the firm has approved. The investment, which involves keeping money in a jurisdiction other than one’s country, was requested from unit holders to benefit from its global reach by tapping from much larger markets outside Malawi.

Old Mutual Managing Director James Mhura, confirmed that after looking at its balanced fund, it was revealed that the firm had finally reached a stage where it can venture into offshore investments. “We proposed to the trustees of the fund that we take a portion off the fund to invest in other developed markets through our Old Mutual Investment Group in South Africa,” said Mhura.

He also revealed that the firm, from immediate effect, will invest 10% of their balanced fund in developed markets outside Malawi, mainly in South Africa.

In other news, Old Mutual has partnered with TNM Mpamba, a development that will see premium payments for Old Mutual being paid using TNM Mpamba. This service is available to all Old Mutual retail products holders with the following policies; Tsogolo Savings Plan, Timba Family Plan and Timba Plus.