SOUTH AFRICA - South Africa's more than R1trn (US$130bn) institutional pension system suffers from service providers' conflicts of interest, inadequately educated pension fund trustees and an insufficient distinction between the financial interest of asset owners and asset managers and consultants, according to a recently released report by independent consultant Rob Rusconi.
"About every area [in the institutional pension industry] appears to be affected to the extent that it seems to me that honest service providers might be battling to survive in this market," Ruscon...
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