South Africa Proposes 100 Percent Offshore Fund Cap Lift
South African regulators introduced a draft framework allowing licensed fund managers to hold up to 100 percent of portfolios in foreign assets. The proposal aims to boost the competitiveness of the domestic financial sector.
South Africa will allow fund managers to hold 100% of portfolios in foreign assets under ring-fenced mandates, exempting qualifying vehicles from a 45% offshore investment cap. Regulators briefed investors on Friday on the draft Synthetic Financial Centre framework, which could attract 10 trillion rand in investment over time. The regulatory overhaul aims to modernize decades-old exchange controls and position Johannesburg as a competitive global asset management hub.
