Transformation a growing thorn in big asset managers' side

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Alexforbes says pension funds want to know that the investment teams managing their monies are more representative of SA's population.
Alexforbes says pension funds want to know that the investment teams managing their monies are more representative of SA's population.
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The pressure to transform and hire more black investment professionals is probably more intense than it's ever been in SA currently. According to Alexforbes, which published its annual retirement fund survey on Wednesday, most retirement assets in the country are now managed by asset managers with BEE Level 1 and Level 2 scores - but mostly Level 1.

Of the top 10 asset managers in SA, 70% now have a BEE Level 1 rating. The other 30% are at BEE Level 2.

Alexforbes' head of investment consulting, Janina Slawski, said it's clear that there's a major commitment from asset managers to transform and get to BEE Level 1.

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