Local asset managers hope to hold their own against foreign funds
Global companies are increasing their activity in SA as more locals want to take their money offshore
The Financial Sector Conduct Authority (FSCA) has given UK asset manager Schroders the green light to offer four more funds in the SA market. Edinburgh-based Baillie Gifford is getting three more of its funds approved by the FSCA, and US Franklin Templeton, which opened its office in the country 24 years ago, recently got approval to launch two retail hedge funds.
These are just a few examples of global asset managers that are increasing their activity in SA.