SOUTH African asset managers are turning to infrastructure investments as pension funds at last develop an appetite for funding public infrastructure.Funding infrastructure through pension money has been a long-held wish of the government, which has periodically threatened legislating for investment in prescribed asset classes unless funds do so voluntarily. It is also generally acknowledged that the government will be unable to fund its ambitious infrastructure programme out of debt alone.At the annual Association for Savings and Investment South Africa (Asisa) assembly in Cape Town on Wednesday, fund managers, life assurers and bankers expressed enthusiasm for the government’s Renewable Energy Independent Producers Programme (Reipp), saying it provided a world-class model for private sector investment in public infrastructure.By giving institutional investors a clear line of sight of the risks and returns and providing the necessary certainty through complex contracting, the Reipp...
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