Asset managers to dig in heels as spectre of prescribed assets returns
ANC plans to introduce legislation to compel pension fund managers to invest in government stock
26 February 2024 - 05:00
The ANC plans to introduce legislation to compel pension fund managers to invest in government stock as part of its plans to grow the economy and put greater investment into infrastructure development.
This would require an amendment of regulation 28 of the Pension Funds Act, which sets the maximum level that pension funds and life insurers can hold in the various asset classes, such as property, government bonds and listed shares, but does not prescribe minimum investments in asset classes...
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