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Cape Town - Not everyone is a fan of paternalistic prescriptions that restrict investors’ choice of where to invest their money.

Regulation 28 of South Africa’s Pension Funds Act imposes limitations on the extent to which pre-tax income can be invested in equities, bonds, property and cash. More contentious is the 25% cap on a fund’s offshore investment allocation, which limits investor’s ability to hedge against slumps in the local currency.

Considering that South Africa contributes less than 0.05% to global gross domestic product and less than 1% of world stock market capitalisation, these restrictions clearly do impose limitations on your ability to invest abroad.

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