Investment house managing securities portfolios & mutual & provident funds.
Mor Investments has already become a full-scale asset-management group, but 2025 showed that the key question is no longer how many assets it gathers, but how much of that scale actually turns into profit and cash at the parent-shareholder level.
What More bought in Mor Credit was not a ready-made, consolidated lending business, but a young platform that is still accounted for as an associate while already leaning on More's own capital, guarantees, and funding support. The risk entering the balance sheet is less a fully…
More's 2025 funding profile did improve, but the improvement was driven mainly by a sharp move from bank debt to public bonds. The new flexibility is real, only it rests more on refinancing than on cash surplus generated by the business itself.
More's pension franchise is past the build-out stage and has clearly proved it can grow, but the move to clean profitability now depends on three things at once: continued asset growth, a slowdown in net fee-yield erosion, and better translation of operating profit into economic…
