Earlier this year, the ANC’s Economic Transformation Committee published a proposal outlining changes to Regulation 28 of the Pension Funds Act. Regulation 28 controls the extent to which retirement funds may invest in particular asset classes.
This is intended to ensure that members’ retirement annuities are protected from poorly diversified investments.
Currently, the regulations require that no more than 15% of member benefits are invested in alternative investments including hedge funds, private equity and unlisted property and limits investments in equities to 75%, offshore exposure to 30% and listed property to 25%.
An interview with Stephen Katzenellenbogen, Senior Executive, Private Wealth Manager, NFB Private Wealth Management, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing an article penned by Andrew Duvenage, Managing Director, NFB Private Wealth Management, apropos the ANC’s Economic Transformation Committee proposal outlining changes to Regulation 28 of the Pension Funds Act.