At the 2021 Morningstar Investment Conference, I had the privilege to sit down with Tamryn Lamb, head of retail distribution at Allan Gray and Joanne Baynham, wealth manager and AssetTV Presenter to discuss the evolution of the local and global investment landscape. The industry has evolved to include an array of different investment options, structures, vehicles and providers.
It is actually surprising that there hasn’t been more consolidation within the boutique space in South Africa. The consolidation we’ve seen recently does also pose its challenges – in many cases, consolidation is convenient in terms of the numbers and the monetary appeal but not necessarily an alignment of investment interests. With that said, this isn’t an issue that is unique to South Africa. The trick here is to find a good match in terms of resource, investment philosophy and product.
MorningstarInc South Africa can jump start its economy if it does the following: 1-Remove the race based BBBEE laws! 2-Remove all labour law red tape! 3-Reduce Corporate Income Tax to 22%! (This will be lowered to 27% next year tho)