Financial advisers have welcomed finance minister Enoch Godongwana’s budget speech announcement that pension funds will soon be allowed to invest as much as 45% of their assets outside SA.

Godongwana said on Wednesday that changes to regulation 28 of the Pension Funds Act, due to be published in March, will allow insurance, retirement and savings funds to invest 35% of their assets offshore, up from the previous limit of 30%. If one includes the 10% allocation for investment in other African markets outside SA, that takes the total international investment allocation for local investors to 45%...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.