A WEE DRAM
CHRIS GILMOUR: Sector could do more to tackle SA’s cruel ovarian lottery
Is the investment industry doing anything to change SA for the better?
Is the investment industry doing anything to change SA for the better? At the recent CFA South Africa Annual Investment Conference, Delphine Govender of Perpetua Investment Managers tackled this thorny subject, leaving one with the distinct impression that she believes the sector could be doing a lot more. Govender provocatively emphasised the high degree of inequality in SA, using aerial imagery of the obvious divide between the well-off and those surviving in poverty. Two of her examples were Cape Town’s Hout Bay and its neighbouring squatter camp, and Johannesburg’s Sandton and Alexandra. "Such inequality in South African society is not sustainable if prosperity and growth is our vision," she said. Her key message was that investment should be a means to an end rather than simply an end, especially in a developing economy. Its fundamental purpose should be to contribute to all through an increase in societal wealth and wellbeing. But she reprimanded the investment industry as str...
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