The local Collective Investment Schemes (CIS) industry completed the second quarter of this year with assets under management of R2.4 trillion, spread across 1 607 portfolios.
Almost half of these assets were held in South African (SA) Multi Asset portfolios (49%), with the rest in SA Interest Bearing portfolios (29%), SA Equity portfolios (19%) and SA Real Estate portfolios (3%).
Statistics for the quarter and year ended June 2019, released today by the Association for Savings and Investment South Africa (ASISA), also show that the industry recorded net inflows of R25 billion for the second quarter of this year, bringing the total net inflows for the 12 months to the end of June 2019 to R143 billion.
Sunette Mulder, senior policy adviser at ASISA, says SA Interest Bearing portfolios (Short Term and Variable Term) attracted the bulk of the net annual inflows (R59 billion), followed by Money Market portfolios (R43.8 billion). SA Multi Asset – Income portfolios were also popular with investors, drawing net annual inflows of R38.7 billion.
“The statistics tell us that investors continue to favour the perceived safety of interest bearing portfolios, which is not surprising given the market volatility and political uncertainty over the past year.”