An "unprecedented" three years in local investment markets has left many balanced or multi-asset investors wondering just what exactly their advisers and asset managers are doing for them, according to financial planners and asset managers who addressed the Financial Planning Institute's recent annual conference. Craig Gradidge, an independent financial planner at Gradidge Mahura Investments, says it is increasingly difficult for investors to accept the message that they need to remain invested for the long term after many South African multi-asset funds failed to meet their investment growth targets. Advisers typically recommend high equity multi-asset funds for retirement annuity or retirement fund investors as these target returns of inflation plus 5%. But many of these funds have failed to meet this target over the past three years. Pieter Koekemoer, head of personal investments at Coronation, says it has been a very unusual three-year period of grinding equity returns and a con...
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