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Regulation 28 is intended to protect retirement fund savings by limiting exposure to any one asset class. Currently, the regulation does not define infrastructure as a specific category, although infrastructure investment is spread across several asset classes such as equity, bonds, loans and private equity. Consequently, current data from retirement funds do not record the exact investment in infrastructure. A media statement from National Treasury notes that the proposed review to Regulation 28 is informed by a “number of calls for increased investment in infrastructure given the current low economic growth climate”. In his Budget speech last week, Finance Minister Tito Mboweni said the South African economy was expected to rebound by 3.3% this year, following a 7.2% contraction in 2020, after which it should average 1.9% in the outer two years.

South africaSouth africanBasil masekoMalusi ndlovuTito mboweniAfrican venture capital association savcaNational budgetNational treasuryInfrastructure fundFinance minister tito mboweniOld mutual corporateSouth african venture capital associationதேசிய பட்ஜெட்தேசிய கருவூலம்உள்கட்டமைப்பு நிதிபழையது பரஸ்பர பெருநிறுவன