INVESTORS WITH­DRAW FUNDS

Finweek English Edition - - THE WEEK -

South African gen­eral eq­uity funds saw a net out­flow of R3.25bn over the course of 2016, demon­strat­ing that, in gen­eral, the ap­petite for pure eq­uity funds was weak, Mon­ey­web re­ported. The Allan Gray Eq­uity Fund, the largest fund in this cat­e­gory, also saw the big­gest out­flow, los­ing a net R3.84bn, more than 10% of the fund’s to­tal as­sets, it re­ported, cit­ing data from the As­so­ci­a­tion for Sav­ings and In­vest­ment SA (Asisa). The Allan Gray Eq­uity Fund re­turned 9.91% last year, com­fort­ably out­per­form­ing the FTSE/JSE All Share In­dex, which re­turned just 2.6% (in­clud­ing div­i­dends) last year, Mon­ey­web re­ported.

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