EDITORIAL: Solving skewed asset management sector not black and white
10 December 2020 - 05:09
Black asset managers have come out swinging in recent weeks, arguing it’s unfair that 26 years since the advent of democracy they oversee just 9% of SA’s total savings and investment pool.
Deputy finance minister David Masondo cited the 9% figure in a December 3 speech to the Black Business Council, in which he said the Financial Sector Conduct Authority would be scrutinising more closely the transformation efforts of asset managers, responsible for overseeing the savings of SA workers...
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.