Offshore retail funds are continuing to attract investors in spite of volatile world markets, says Di Turpin, chief executive of the Association of Collective Investments (ACI).
"Net inflows in these foreign currency-denominated retail funds totalled 459 million rand in the March quarter on top of the 803 million rand in the previous three months," she points out.
But institutional funds had a net outflow of just over one billion rand during the quarter – 443 million from equity funds and 602 million rand from fixed interest. This brought the total net investment for all foreign-denominated funds (institutional and retail) to a negative 586 million rand during the quarter, she adds.
The ACI figures show that foreign retail equity funds were the preferred destination the past quarter, with net inflows from this segment totalling 210 million rand. Asset allocation funds attracted 185 million rand and fixed interest 64 million rand.