Ruling party ditched idea at national conference after pressure from fund managers and administrators
The SACP will put the issue of prescribed assets, which forces pension funds to invest in government stock, back on the table at the ANC’s policy conference scheduled for end-July.
With Cosatu, the SACP is part of an alliance with the ruling party, and its voice is largely considered in ANC policy decisions. But the SACP should expect fierce pushback on the issue from the ANC, which rejected the idea at earlier conferences. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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