OFFSHORE INVESTMENT
Magda Wierzycka again accuses rivals of lobbying Treasury
The Sygnia founder insists change of heart came after Asisa wrote to the regulators asking for clarity on rules
09 December 2020 - 05:10
Magda Wierzycka, founder and joint CEO of Sygnia, has repeated her criticism of the active asset management industry for allegedly lobbying the National Treasury and the Reserve Bank to reverse a decision that would have seen a broader range of instruments listed on the JSE classified as domestic assets.
A debate erupted in the investment industry after a note accompanying the October medium-term budget policy statement that some players interpreted as an effective removal of prudential limits on how much of their assets can be invested offshore...
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