South Africa edges closer to retail distribution

South Africa has moved a step closer to licensing hedge funds for retail distribution by passing its Collective Investments Scheme legislation.The new rules took effect on 10 March, forcing fund providers to give greater transparency, single pricing and greater disclosure to investors.David Stronach, head of products for Investec Asset Management Personal Investments in South Africa, said the legislation regarding hedge funds was separate from the non-hedge related laws. While the legislatio