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Economic, market and regulation challenges mean the future is likely to be more difficult than the past.
2019 has been a challenging year for asset managers and their clients. Confidence in South Africa remains dismal, and global macro risks have risen amid trade wars and a slowing global economy. This has seen a very aggressive sell-off in parts of the global equity market, and especially in the case of out-of-favour stocks and sectors.
With countries across the world grappling with how to fund important issues such as climate change and financial inclusion, the need for private capital to play its role has never been more important.
The tough local environment is a challenge for most companies, and many local investors are feeling the pain after a somewhat demoralising third quarter.
The strongest deterrent against FSP compliance missteps is or should be: