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South Africa’s fund industry gets net inflows of $10 billion for the first nine months of 2019, despite a volatile market

19 November 2019 Refinitiv

Refinitiv Lipper data summarises the South African Fund Market year to date

The South African Fund Market industry for the first nine months of 2019 show good inflows in a volatile market environment driven by discussions about a trade year between the U.S. and China. According to Lipper, the South African fund industry enjoyed estimated net inflows of $10 billion from January - September 2019.

Assets under management in the South African fund industry increased from $168.9 billion in December 2018 to $173.5 billion in 2019 year to date. This increase was driven by net sales which contributed to the inflows, while the performance of underlying markets contributed to a negative $0.4 billion. Mixed-assets funds were the asset type with the highest assets under management in September 2019, at $71.5 billion, followed by equity funds at $40.7 billion, bond funds at $25.3 billion, money market funds at $22.4 billion, alternative funds at $13 billion, and real estate funds at $0.2 billion.

“Generally speaking, the year 2019 has so far been a tough year, with split results for some asset managers in the South African fund management industry. Nevertheless, the year can be considered as a positive year so far as mutual funds have enjoyed net inflows of +$10 billion,” said Detlef Glow, Head of EMEA Research at Lipper from Refinitiv.

Nedgroup Investments continued to be the best-selling fund promoter by September 2019 with net sales of $3.4 billion. Investec increased its net sales from +$0.4 billion to +$1.1 billion. Stanlib remained with flat line net sales of +$0.6 billion; while as Satrix Managers (Pty) grew their net sales from +$0.3 billion to +$0.5 billion.

The ten best-selling promoters year-to-date in South Africa include Nedgroup, Investec, 10x, Stanlib, Satrix Managers (Pty), Boutique Collective Inv, Prescient Mng Co, Discovery Life Collective Investments, Sanlam, and PSG.

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