South Africa’s Financial Services Board has revised a pension funds act that will allow funds to invest 10% of their portfolio in hedge funds, HFMWeek reports. The revision of the act will enable the $14.5 billion industry to invest in hedge funds, both local and offshore, by private pension plans in South Africa. Private pension funds will be able to join government plans in South Africa for investing in hedge funds. So far, hedge funds were not recognized under South African regulation.
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