South Africa to allow fund managers 100% foreign assets under new framework
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South African regulators introduced a new framework for fund managers. Qualifying vehicles are now exempt from a long-term 45% offshore investment cap. Under ring-fenced mandates, managers can hold 100% of portfolios in foreign assets.
South African fund managers will be able to hold 100% of portfolios in foreign assets under ring-fenced mandates, regulators said on Friday, in a new framework that exempts qualifying vehicles from a longstanding 45% offshore investment cap.