STEPHEN CRANSTON: Funds our minders in SA find too spicy, may be the tastiest
The world’s mainstream investments have become more correlated and only alternative strategies can provide genuine diversification
One of the perks of going overseas used to be watching films banned in SA. Some of these, such as Bonnie & Clyde and Midnight Cowboy, are now acknowledged to be classics. The Financial Sector Conduct Authority — you may remember it as the Financial Services Board — has exactly the same paternalistic attitude as the film censors used to adopt. It believes the SA public is not mature enough to cope with certain foreign mutual funds, so they are banned. Going to the Schroders conference in London there was so much banned material they should have been handing out raincoats and dark glasses. I had to send a note confirming that I was a consenting adult looking for access to banned material as part of his own academic research. The Schroders multi-asset total return funds might not be as shocking as A Clockwork Orange but they are still considered too spicy for the SA public. I shouldn’t really name the fund, nor confirm or deny that it uses the phrase “diversified growth”. It does fit i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.