There will be no “prescribed” or mandatory investments by retirement funds in infrastructure projects, and it is being left to retirement funds to decide for themselves when and how they should invest in infrastructure, says Bruce Cameron.
The retirement fund industry can breathe a huge sigh of relief as National Treasury significantly relaxed its approach for infrastructure development, allowing funds to be invested in private sector initiatives, ruling out direct or indirect prescribed investments and allowing funds to apply the UN Principles for Responsible Investment (UNPRI), which means funds will be able to reject investment in corrupt institutions.
