Sulliman Adam Moollan- Bramer Asset Management Ltd
Sulliman Adam Moollan (Bramer Asset Management Ltd)
(Seychelles News Agency) - Richard Ramasawmy speaks with Sulliman Adam Moollan, Chairman of Bramer Asset Management Ltd, Bramer Global Services Ltd and Bramer Capital Brokers Ltd, based in Mauritius.
This follows his participation at the Seychelles-Mauritius international trade fair and the Seychelles-Mauritius business forum held last week.
RR: Mr Moollan, how timely is this business visit to Seychelles?
Moollan: I believe this is the most appropriate time for our business communities to set a new level to our economic cooperation. This will add to the existing ties that we have developed over the years, mainly in the hospitality industry and in the trading sector. We now have to contemplate new avenues and seal a new economic framework. It also translates the political will of both President James Michel and Prime Minister Navin Ramgoolam for a sustainable development in our economic ties. We believe that it is timely now more than ever as Seychelles has brilliantly turned around its economic situation over the past five years with a forceful and courageous strategy. Your country’s economy is back on solid grounds and is showing even more possibilities for growth. We have come to Seychelles to have a deep insight of this new economic outlook and to explore ways and means to pool our resources together in the interest of our two countries with win-win intentions.
RR:: What are the challenges that Mauritius and Seychelles might face in the future?
Moollan: As Small Island Developing States (Sids), Mauritius and Seychelles are characterised by inherent vulnerabilities such as small land area, limited natural resources and environmental sensitiveness. Both have a small domestic market and are therefore export-oriented.
Over the years, the two countries have undertaken major reforms to enhance trade competitiveness, while maintaining fiscal discipline and improving investment climate, despite the difficulties usually faced by small island states in their attempt to liberalise their economies. Notably those related to intensification of competition, maintenance of sound macroeconomic policies, effective management of risks, cross-border bank supervision, modernisation of financial legislation, and adaptation to changes in the international business cycle. Mauritius and Seychelles have achieved considerable success to date.
Today, both countries wish to broaden and deepen their economic and diplomatic ties. The idea is to work together to turn both islands into international business centres for financial services and trading.
RR: You talked about a new level in our relations. Are you referring, among others, to a closer cooperation in the financial sector?
Mr Moollan: Indeed, the financial sector with its new products and services can contribute to establish a very sound axis in our relations. We can easily develop a fruitful cooperation between the private sectors of our two countries. It is the genuine desire of our company, Bramer Asset Management Ltd (BAML), to set the example in these renewed business links. BAML has been in the business of investment for more than 10 years and we are one of the region’s leading asset managers, with our asset under management (AUM) exceeding US $175M for our private clients and institutional investors. We believe we have the appropriate credentials to develop cross-border relations with Seychelles. Our company can provide a comprehensive range of financial solutions to both private clients and corporate bodies. It is part of the British American Investment conglomerate, which is one of largest groups in the Indian Ocean. The Group member companies include BAI (Mtius) Ltd, Bramer Banking Corporation Ltd and the Apollo Bramwell Hospital. The Group also has a presence in Kenya, Botswana, Madagascar and Malta. We also currently operate in the following principal areas of business: Investment management services to proprietary funds, advisory, portfolio & asset management services and distribution and marketing of investment solutions. Our two sister companies are Bramer Capital Brokers Ltd, a registered stockbroker in Mauritius with over 20 years experience, and Bramer Global Services Ltd, a management company.
RR: Is the Asset Management industry a fast growing activity?
Moollan: This industry is rapidly evolving and shifting to a model of investment management for private wealth and for mutual funds. The rise in the volume of investable assets is set to increase, and changing demographics and markets will thrust asset management to centre-stage. As the world ages, retirement and healthcare will become critical issues that only the asset management industry can solve. Further, asset managers will become more important in the capital raising required to support growing urbanisation and cross-border trade. We are today the manager of the largest real estate fund in Mauritius. We also have an ethical fund which has yielded very interesting returns to investors over the past few years. We have a reputation of being innovative in our products which have through the number of years remained very appealing to investors. In light of same we are pleased to announce that we have launched the first Pan-Africa fixed income fund to invest in more than 10 countries.
RR: Where do you perceive other avenues of cooperation?
Moollan: We definitely foresee increased joint activities in the pension sector as well as in property management. We can help clients to set up their own pension scheme for their employees, if they do not have one yet, but we also manage the assets of existing pension funds. Our advisory services ease the initial setting up process and design the pension fund with a tailor-made approach while ensuring compliance with the local jurisdiction where the pension fund is domiciled.
The other sector where we foresee positive exchanges is in the field of property management. The property market has been a sector that has shown considerable growth in the region during the past few years. We have been able to capitalise on the high potential returns in the property sector through the setting up of the Bramer Property Fund years before the recent bubble in the property sector. Our returns on the property fund have been very attractive and the demand for such investment products is increasing. The assets under management of the Bramer Property Fund stand at approximately US $170M. We are now looking for opportunities in the Indian Ocean and African regions.
Holder of a Bachelor’s Degree in Economics from Monash University in Australia and an Associate Member of the Certified Practicing Accountants of Australia,Sulliman Adam Moollan is presently the chairman of Bramer Asset Management Ltd, Bramer Global Services Ltd and Bramer Capital Brokers Ltd. He was previously the chairman and director of the Stock Exchange of Mauritius Ltd and the Central Depository and Settlement Co Ltd and sits on the board of numerous companies in Mauritius.