David Masondo heeds black asset managers’ calls for bigger slice of retirement fund sector
A compulsory BEE scorecard for the sector is close
Black asset managers, who oversee just 9% of assets under management in SA, are becoming increasingly strident in their calls for a greater slice of the country’s savings pool. What’s more, they have a powerful ally in their corner in the form of the National Treasury.
Deputy finance minister David Masondo said in a keynote speech on December 3 that the government is working with the Financial Sector Conduct Authority (FSCA) to ensure that the country’s 100 biggest retirement funds bolster their transformation efforts...