Asset managers expect further growth in tax-free savings accounts after a successful first year
After the first year of tax-free savings accounts (TFSAs) becoming available in South Africa, it is clear that the products have been successful in encouraging new investors to save money in investments. As more and more investors become aware of the benefits of tax-free investments, it is expected that uptake of the products will grow exponentially in the next year, particularly for use as a medium-long term savings account.