South Africa turns an eye to offshore funds

There is increasing interest in offshore investments among South African residents, according to intermediaries in the country. This follows the completion of the Foreign Exchange Amnesty and a weakening of the rand. Professor Sakkie van de Merwe, chief executive officer of the Financial Planning Institute of Southern Africa (FPI), said: "Investors have realised it is time to think about diversifying their investments again. This is because of the risk reduction benefits of diversification, the weakening of the rand and the increased attractiveness of overseas equities. "Now that the amn...