Why the local asset management industry needs to change
Despite a number of boutique asset management firms entering the market over the past few year, the industry remains heavily concentrated. According to the latest figures from the Association for Savings and Investment South Africa, the seven largest firms in the collective investment schemes industry have a market share of 56% by assets under management. FundCraft believes this is because of ‘systemic failures’ that make it difficult for investors to explore other options. Alishia Seckam discussed this in detail with FundCraft's chief strategy officer, Gandy Gandidzanwa.