Pension Funding 2017
Price
R 1 900.00(ZAR) estimated $ 119.89 (USD)*
Report Coverage
The detailed Pension Funding report focuses on currents conditions as well as developments in the industry, including National Treasury’s pension reforms that could stimulate the development of innovative retirement products. Included are profiles for 27 companies ranging from well-known companies such as Coronation Fund Managers Ltd and Allan Gray (Pty) Ltd, to relative newcomer Truffle Asset Management (Pty) Ltd which was recently nominated for the 2017 Morningstar Fund Awards as one of South Africa’s top three fund houses with a smaller fund range.
The South African Pension Funding sector
Members of the Association for Savings and Investment South Africa (ASISA) managed total assets worth R8.6-trillion in 2015, according to the Association’s latest Annual Review published in 2015. The South African retirement industry today manages assets of around R1.8-trillion. This excludes the Government Employees Pension Fund (GEPF) with assets under management of more than R1.6-trillion.
A Well-Regulated Sector
A key stakeholder in the pension funding sector is Government which, through National Treasury, the South African Revenue Service (SARS) and the South African Reserve Bank (SARB), seeks to promote a stable macroeconomic environment through the implementation of sound fiscal and monetary policies. The Financial Services Board (FSB) is another important stakeholder with the Registrar of Pension Funds who oversees compliance with legislation that regulates non-banking financial institutions.
A Challenging Environment
Despite the sound regulatory environment and the active promotion of good governance, analysts believe that only 6% of the population will have enough money to retire comfortably, without having to change their standard of living. Financial illiteracy remains a challenge that prevents citizens from preparing adequately for retirement and the worsening economic climate seems set to make saving even more difficult. The issue of transformation, which has been hampered by a shortage of skilled professionals, and of effective corporate governance to ensure the implementation of sustainable and responsible investment, are also important developments in the pension funding sector.
Table of Contents
| PAGE | ||
|---|---|---|
| 1. | INTRODUCTION | 1 |
| 2. | DESCRIPTION OF THE INDUSTRY | 1 |
| 2.1. | Industry Value Chain | 2 |
| 2.2. | Geographic Position | 2 |
| 3. | SIZE OF THE INDUSTRY | 3 |
| 4. | STATE OF THE INDUSTRY | 8 |
| 4.1. | Local | 8 |
| 4.1.1. | Corporate Actions | 12 |
| 4.1.2. | Regulations | 13 |
| 4.1.3. | Enterprise Development and Social Economic Development | 15 |
| 4.2. | Continental | 17 |
| 4.3. | International | 19 |
| 5. | INFLUENCING FACTORS | 21 |
| 5.1. | The National Social Security Fund | 21 |
| 5.2. | Economic Environment | 22 |
| 5.3. | Retirement Reform | 24 |
| 5.4. | Technology, Research and Development (R&D) and Innovation | 25 |
| 5.5. | Labour | 25 |
| 5.6. | Complaints and the Office of the Pension Funds Adjudicator | 27 |
| 5.7. | Fraud | 28 |
| 5.8. | Environmental, Social and Corporate Governance | 29 |
| 6. | COMPETITION | 30 |
| 6.1. | Barriers to Entry | 31 |
| 7. | SWOT ANALYSIS | 31 |
| 8. | OUTLOOK | 32 |
| 9. | INDUSTRY ASSOCIATIONS | 32 |
| 10. | REFERENCES | 33 |
| 10.1. | Publications | 33 |
| 10.2. | Websites | 34 |
| APPENDIX 1 | 35 | |
| Kinds of funds subject to the Pension Funds Act | 35 | |
| APPENDIX 2 | 37 | |
| Top 100 FSB-registered Funds in 2015 Ranked in Order of Number of Members | 37 | |
| APPENDIX 3 | 40 | |
| Top 100 FSB-registered Funds in 2015 Ranked by Total Assets | 40 | |
| COMPANY PROFILES | 43 | |
| ABSA ASSET MANAGEMENT (PTY) LTD | 43 | |
| ALLAN GRAY (PTY) LTD | 45 | |
| ALUWANI CAPITAL PARTNERS (PTY) LTD | 48 | |
| ARGON ASSET MANAGEMENT (PTY) LTD | 50 | |
| CADIZ ASSET MANAGEMENT (PTY) LTD | 52 | |
| CORONATION FUND MANAGERS LTD | 54 | |
| FOORD ASSET MANAGEMENT (PTY) LTD | 58 | |
| FUTUREGROWTH ASSET MANAGEMENT (PTY) LTD | 60 | |
| INVESTEC ASSET MANAGEMENT (PTY) LTD | 62 | |
| INVESTMENT SOLUTIONS LTD | 65 | |
| KAGISO ASSET MANAGEMENT (PTY) LTD | 68 | |
| MARRIOTT ASSET MANAGEMENT (PTY) LTD | 70 | |
| MAZI ASSET MANAGEMENT (PTY) LTD | 72 | |
| MERGENCE INVESTMENT MANAGERS (PTY) LTD | 73 | |
| MOMENTUM OUTCOME-BASED SOLUTIONS (PTY) LTD | 75 | |
| NBC HOLDINGS (PTY) LTD | 77 | |
| OASIS GROUP HOLDINGS (PTY) LTD | 80 | |
| OLD MUTUAL INVESTMENT GROUP (PTY) LTD | 82 | |
| PRESCIENT INVESTMENT MANAGEMENT (PTY) LTD | 87 | |
| PRUDENTIAL PORTFOLIO MANAGERS (SOUTH AFRICA) (PTY) LTD | 90 | |
| PUBLIC INVESTMENT CORPORATION SOC LTD | 93 | |
| SANLAM MULTI MANAGER INTERNATIONAL (PTY) LTD | 101 | |
| SESFIKILE CAPITAL (PTY) LTD | 103 | |
| STANLIB ASSET MANAGEMENT (PTY) LTD | 105 | |
| SYGNIA ASSET MANAGEMENT (PTY) LTD | 109 | |
| TAQUANTA ASSET MANAGERS (PTY) LTD | 111 | |
| TRUFFLE ASSET MANAGEMENT (PTY) LTD | 113 |
