Cape Town-based attorney Rifke Gellman examines amendments to the Pension Funds Act, which come into effect in July 2011
Amendments to Regulation 28 of the Pension Funds Act have been finalised and will come into effect on 1 July 2011. This regulation limits how a retirement fund may invest its assets. The amended regulation differs extensively from the current regulation and this article will examine what the changes mean for retirement funds that have invested in, or that wish to invest in, hedge funds.
Specific provision is made in the amended regulation for investments in hedge funds. This is a significant departure from the current regulation, which contains no specific reference to hedge funds.
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