Regulatory Alerts2018-03-31
Information Circular No. 3 of 2018: Regulation 28 Increased Foreign Portfolio Investment Limits
The South African Financial Services Board issued this circular to update retirement funds on increased foreign portfolio investment limits under Regulation 28 of the Pension Funds Act. Pursuant to the South African Reserve Bank’s Exchange Control Circular No. 7/2018, funds may now allocate up to 30 percent of their assets to foreign investments, plus an additional 10 percent specifically for African markets. This regulatory amendment raises the previous aggregate foreign exposure cap, allowing South African retirement schemes to pursue broader international diversification.
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