The recent amendment to Regulation 28, which sets certain limits for retirement funds on how to invest, has far-reaching effects on investors. The main change was an increase in the maximum offshore exposure from 30% to 45%. This can impact their retirement savings for the better.Regulation 28 is applicable to all “retirement” vehicles such as pension, provident, preservation funds and retirement annuities.
Most of these funds have historically only invested in local shares, but over the past couple of years, some of them have changed their mandate to include up to 30% of their fund in offshore markets. Examples are Allan Gray Equity and 36One Equity. These funds are not Regulation 28 compliant, but others follow the “trend” of maximum offshore allowance within Regulation 28.
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