Lanson to manage South African fund

Lanson Financial, a UK expatriate independent financial adviser, has been appointed to manage a fund of offshore funds for pensioners in South Africa. The open-ended fund, known as a multi-manager 'wrap fund' in South Africa, has been designed to use the '750' rand foreign exchange allowance. This allowance means that individuals can invest R750,000 offshore each year and married couples can invest R1.5m. It is thought this fund will appeal to South African pensioners because of the stop-loss/start-gain mechanism. Lanson Financial will be using the allowance to limit downfalls i...