Pension funds continue homeward drift

Latest statistics show that by September, local pension funds held P99.6 billion in assets, their highest ever level, with 36.4% of these invested locally and the balance offshore. Current rules require pension funds to invest a minimum of 30% locally and up to 70% offshore.

Finance and Economic Development minister Thapelo Matsheka has told Parliament the trend showed that the current domestic allocation was sufficient for the resources required by the local economy.