National pension fund opts for positive engagement

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SOUTH AFRICA - The R786bn (US$83.2bn) Public Investment Corporation (PIC), which manages pension fund assets on behalf of the South African government, has announced it is to shift R65bn to black African fund managers.

The measure will see US$6.7bn of assets transferred to black owned and run asset management firms with good track records, and emerging black management firms, as part of the South African governme...

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