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Johannesburg - Foreign currency-denominated fund assets
in South Africa rose to R53bn in the first quarter of 2005, compared with R46bn in the previous quarter, according to the latest statistics from the Association of Collective Investments (ACI).
Unveiling the latest foreign fund inflows, ACI CEO Di Turpin
commented: "Net inflows at R1.8bn remain strong, with more than R1.0bn being invested by institutions in the three months.
"Retail investments, however, fell to R482m after the previous R1.3bn inflow - probably reflecting the weaker tone of world markets," she observed.
"With the rand still strong, investors should diversify
offshore - thus lowering both their country and investment risk."
ACI statistics show that there are now 322 offshore funds registered with the Financial Services Board (FSB) to conduct business locally.