SOUTH AFRICA - Investec Asset Management and University of Cape Town (UCT) Graduate School of Business have formed a contractual arrangement to encourage discussion among the trustees of South African retirement funds.
At the launch of Investec’s client education research centre, institutional business head, Thabo Khojane said: “Changes in retirement fund legislation and the continuous introduction of new products and players are significantly increasing the demands made on the trustees of pension funds.
“In order to fulfil their function effectively and prudently, it has become imperative for trustees to develop a thorough understanding of financial markets and all they encompass - asset classes, instruments, products and other investment vehicles, as well as the retirement industry.”
According to Eleanor Fraser, lecturer at the UCT school of management studies and the facilitator of the programme, this arrangement will take the form of two-day training programmes for trustees, complemented by an educational website. Upon completion of the course, trustees will receive a certificate of attendance from the Graduate School of Business, of the same kind awarded to those participating in the school’s short course programme.
“In the short term, the programme will help trustees to be better equipped to make decisions regarding their retirement fund, but in the long term we hope the programme will have a broader impact by educating people to also manage their own money more successfully,” Fraser said.
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