If the festive season seemed a little less festive, and the cheers on old year’s night a little more cheery, then with good reason. In many ways, 2019 was an abysmal year, the exclamation mark to a dreadful decade that saw our country regress in almost every way. Not even winning the Rugby World Cup could lift the broad sense of malaise.

Who then would want to save in a pension fund that is legally required to invest at least two-thirds of its money locally? Surely, that was going to end badly, especially in 2019?..

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