Before Covid-19 shut down the country, SA’s economy was already grappling with significant structural issues that dampened returns from domestic investments. A strong rationale already existed for local investors to increase offshore allocations to realise better returns and protect their wealth through diversification.

"SA was in recession before Covid-19 hit, with a weak fiscal position," says Reyneke van Wyk, head of investments at Stonehage Fleming Investment Management in SA.

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