Since March 2022, local unit trusts have been able to allocate up to 45% of their portfolios anywhere outside South Africa. The increase in offshore limits is a significant positive for local investors, who now have greater potential to diversify across different markets, sectors and businesses. The South African equity market is concentrated and subject to emerging market, Chinese and commodity risks. Maximising the increased flexibility effectively requires a holistic view of the portfolio, which allows one to balance the opportunities and risks derived from its positioning. We believe that we are well positioned to do this, together with our sister company, Orbis.

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