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New foreign investment regulations to be reviewed

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The controversial Reserve Bank ruling on "inward listed" investments, allowing, among other things, for retirement funds to increase its offshore investment from 30% to 75% in equity, is under review.

The announced change of last week followed the permission given by Finance Minister Tito Mboweni in his medium term budget policy statement (MTBPS).

In effect, the circular allowed local retirement funds to invest in all listed securities, including Exchange Traded Fund (ETFs) and Exchange Traded Note (ETNs) that invested offshore.

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