The two most significant challenges we face as SA is to solve the desperate levels of poverty and massive inequality. That is why black economic empowerment (BEE) and transformation are such pivotal conversations for us to have. These conversations are particularly relevant in the asset management industry, not only because the industry should transform for its own sake, but because it plays such a pivotal role in the allocation of capital, which is essential for the growth, development and evolution of the economy. In recent times the conversation around transformation in the asset management industry has been narrowly focused on the portion of assets that are managed by black firms. This is an important yardstick because it tells you the extent to which businesses founded and managed by black people have come to play a more meaningful role in the industry and, therefore, the economy at large. If we look at data from the 27FOUR annual 2017 Transformation in South African Asset Mana...

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