Liberty launches offshore products as low JSE returns frustrate investors
The global portfolio will give its investors exposure to companies in the US’s S&P 500 and European Euro Stoxx 50
As the JSE continues to decline and SA’s growth forecast get revised downward in every budget speech in recent times, investment companies are increasingly looking offshore to deliver returns to their customers. The JSE is down 14% so far in 2018. On Tuesday, Liberty — after more than a decade of not offering any new offshore products — launched a global portfolio that will give its investors exposure to companies in the US’s S&P 500 and European Euro Stoxx 50. The insurer has a traditional global portfolio but it is the first time since before the global financial crisis that it is offering investors exposure to other asset classes. “When it comes to products that gave our clients exposure to offshore markets, we tended to get in at a wrong time.… We are getting back into the space by taking alternative type investments,” said Liberty’s director for the investment propositions division, Vimal Chagan. He said the single-digit returns delivered by the JSE in the past five years has i...
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