However, the majority of investments made in the year ended March 2021 missed out on the strong stock market recovery as most of the money went into interest-bearing portfolios.
Majority of local investors miss out on strong stock market recovery
By Opinion
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The local Collective Investment Schemes (CIS) industry reported net inflows of R13.69 billion in the first three months of this year, taking to R203.83 billion the total net inflows for the 12 months to the end of March 2021.
The CIS industry statistics for the quarter and year ended March 2021, released today by the Association for Savings and Investment South Africa (ASISA), show that while net inflows in the first quarter of this year tapered off from last year’s high levels, the total annual net inflows of R203.83 billion are the highest ever achieved by the local CIS industry over a rolling 12 month period.
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A record year for unit trust inflows in 2020
The latest statistics from Asisa show that collective investment schemes took in their highest ever annual inflows last year. Hedge funds, however, saw money trickle out.
By Patrick Cairns, Citywire
10 Mar 2021 10:20
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The local collective investment scheme (CIS) industry took in net inflows of R213bn in 2020. This is the highest annual net inflow in the industryâs 55-year history, according to the Association for Savings and Investment South Africa (Asisa).
It also took the total assets under management (AUM) in rand-denominated CIS funds to a record level of R2.73tn at the end of December.