ECONOMY - Government looking to apply BEE scorecard to asset managers

BUSINESS LIVE / 03 DECEMBER 2020 - 17:03 / GARTH THEUNISSEN

The state will engage with the pension funds industry over black asset managers, who oversee just 9% of the SA savings pool

Deputy finance minister David Masondo says the government is looking at ways to ensure that retirement funds adhere to the financial sector’s BEE scorecard requirements when appointing asset managers, which he says are not acting fast enough to ensure more balanced racial and gender representation.​

Masondo also said that while the government will not introduce prescribed assets, it will amend regulation 28 of the Pension Funds Act to make it easier for pension funds to invest in infrastructure. ..

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Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER