SA asset management industry hits new high
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GUEST - Sunette Mulder, senior policy advisor at Association for Savings and Investment South Africa [ASISA]
The local Collective Investment Schemes (CIS) industry reported assets under management of R3.64 trillion at the end of the second quarter of 2024, a growth of 2% from the end of the first quarter of 2024 when assets stood at R3.57 trillion. Over the 12 months to 30 June 2024, assets grew by 8.3%, driven primarily by stock market performance.
The CIS industry statistics for the quarter and year ended June 2024, released by the Association for Savings and Investment South Africa (ASISA), show that despite delivering consistent and steady growth in assets under management, the local CIS industry recorded net outflows of R30 billion (excluding reinvestments) in the second quarter of this year.
The local Collective Investment Schemes (CIS) industry reported assets under management of R3.64 trillion at the end of the second quarter of 2024, a growth of 2% from the end of the first quarter of 2024 when assets stood at R3.57 trillion. Over the 12 months to 30 June 2024, assets grew by 8.3%, driven primarily by stock market performance.
The CIS industry statistics for the quarter and year ended June 2024, released by the Association for Savings and Investment South Africa (ASISA), show that despite delivering consistent and steady growth in assets under management, the local CIS industry recorded net outflows of R30 billion (excluding reinvestments) in the second quarter of this year.