Sensible offshore strategies reined in by regulation and asset managers’ onshore bias
The recent noise about prescribed assets has brought regulatory restrictions on where retirement savers are allowed to invest back into the spotlight. It would appear that a growing number of asset managers and financial advisers are realising that being overweight local assets restricts them in structuring optimal portfolios, regardless of the risk appetites and desired financial outcomes of their clients and investors. Magnus Heystek, a director at Brenthurst Wealth Management, has been outspoken on the need to diversify assets offshore as far back as 2011.