Old Mutual flags outflows as investors take more assets offshore
Changes to regulation 28 behind increase in foreign exposure — with trend likely to continue
30 September 2024 - 05:00
Financial services group Old Mutual says it expects more outflows from SA’s asset management as investors increase their offshore exposure after the implementation of changes to regulation 28 last year that allow retirement funds to invest 45% of their members’ money outside SA, from 30% previously.
Old Mutual, whose asset management unit has more than R200bn in assets under management, said the implementation of the change had led to an increase in offshore flows...
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