The 2023 Alexforbes Manager Watch Survey of retirement fund investment managers released this week shows that Ninety One remains the largest asset manager. A 6% increase in assets has solidified its position.
In the Global Best Investment View category, a significant portion of investment managers reflected high offshore allocations. Thirty-four out of 45 increased their global exposure to exceed a 30% allocation, and 11 out of 45 surpassed the 40% mark. Three managers reduced their global exposure and two maintained it at 2022 levels.
The 2037 South African government bond also contributed strongly owing to its large weighting in the fund. “We have been incrementally tilting our portfolio back to SA Inc as we anticipate a better year ahead, primarily due to the reduced level of load shedding being factored into our projections.
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