Johannesburg - South African investors channelled R2.5bn into offshore collective investments in the March quarter with total assets of these foreign currency denominated funds reaching R70.3bn, the Association of Collective Investments (ACI) said on Tuesday.
The net inflows into the 347 foreign funds was nearly double the previous quarter's R1.3bn, with the bulk - R1.9bn - from retail investors. Institutional inflows were R571m.
ACI chief executive Di Turpin says there was greater emphasis by institutions and retail investors on investing in equity funds the past quarter with net inflows of some R2bn.
Of this R1.6bn was invested by retail investors bringing their total for the past six months to close to R3bn.
"Assets have benefited from the continued strengthening of the rand against the dollar and returns have found positive gains at last," Turpin added.
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