There were real returns for the JSE in 2019 after 2018’s losses, yet no less than R13.5bn was withdrawn from the general equity unit trust sector last year.

For most financial advisers it is far easier to put clients into one-stop multi-asset funds. They can pass the responsibility for asset allocation to a fund manager or multimanager. And individual investors who want to make regular savings would be foolish not to make use of the tax deduction from a retirement annuity, which has a 75% equity ceiling.

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