Ninety One's R10bn investment fund to help some of the businesses hardest hit by the Covid-19 and a lockdown that's into its third month will focus on companies not covered by existing rescue schemes.

The Ninety One SA Recovery Fund, set up with private equity company Ethos, will steer cash towards businesses that are too big to benefit from initiatives such as the credit guarantee scheme the government launched in May, but do not have the market power to raise finance independently like the country's corporate heavyweights.

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