SA’s black asset-management pool is still small
Report says new legislation focused on achieving parity within the sector will come into play in 2021
Transformation in SA is moving at a snail’s pace even with a host of policies aimed at speeding up black participation and pension funds under increasing pressure to allocate more of the savings pool to empowerment firms.
The number of black asset management firms in public and private markets grew to 51 on June 30, one more than in 2019, according to a report by investment manager 27Four while the black share of SA’s R7.6-trillion savings and investment pool rose to 9% from 7%. The total savings pool fell in 2020 to R7.6-trillion.