There is R138bn invested in rand-denominated global equity funds. Most of the rest of the R216bn in global funds is invested into global balanced funds. Yet more than twice as much (R477bn) is invested in fully externalised funds, usually denominated in US dollars.

There is a comfort for many people in knowing their money is out of SA, though it doesn’t make it out of the reach of the Pretoria taxman. There is certainly far more choice in the foreign domiciled fund market and many more investment houses are accessible.

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