THE UGLY

Finweek English Edition - - THE WEEK -

SA’s in­vestors have been mov­ing net cash abroad for the 16th con­sec­u­tive quar­ter in the fi­nal three months of 2015, the long­est streak of quar­terly out­flows since the five years through Septem­ber 1999, Bloomberg re­ported. A Lon­don-based fund man­ager at­trib­uted the con­tin­u­ing out­flow to “poor de­ci­sions” by Pres­i­dent Ja­cob Zuma and the ANC, with Zuma fac­ing mount­ing pres­sure to re­sign af­ter the Con­sti­tu­tional Court ruled in March that he failed to up­hold the Con­sti­tu­tion and his oath of of­fice. In­vestec Asset Man­age­ment has seen 60% of do­mes­tic flows shift into its off­shore funds in the first quar­ter of 2016, com­pared with 40% in the prior quar­ter, Bloomberg re­ported.

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