SA’s savings pool is shrinking
Asisa stats show both life and unit trust assets have declined in the past six months thanks to market volatility and the rising cost of living
SA’s savings pool is shrinking thanks to a combination of financial market volatility, the lingering effect of the Covid-19 pandemic and the rising cost of living that is eroding household income.
The Association for Savings and Investment SA’s (Asisa’s) latest statistics for the long-term insurance industry released on Monday show that assets held by local life offices declined from R3.71-trillion at end-December 2021 to R3.51 trillion at end-June 2022. Over that same period the total assets held by the country’s collective investment scheme (CIS) or unit trust sector declined from R3.14-trillion at end-December 2021 to R2.98-trillion at end-June...
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