INVESTMENT INDUSTRY INITIATIVES
SOUTH AFRICA - REGULATION 28

  • Retirement funds investment limits are set by national legislation and regulated by the regulator, the Financial Services Board, to ensure retirement savers and beneficiaries' assets are invested in their best interests: Regulation 28.  
  • REGULATION 28 of Pension Funds Act 24/1956
    • Revision of Reg 28 has placed South Africa at the forefront of bets practice in sustainable investment globally. The ASISA RI Prudential Assets Working Group were instrumental in developing the concepts and text of the regulations. 
    • Notably the Preamble to the regulations enforced in the investments by retirement-funding organizations such as Pension Funds, states:
      • PREAMBLE  "A fund has a fiduciary duty to act in the best interest of its members whose benefits depend on the responsible management of fund assets. This duty supports the adoption of a responsible investment approach to deploying capital into markets that will earn adequate risk adjusted returns suitable for the fund’s specific member profile, liquidity needs and liabilities. Prudent investing should give appropriate consideration to any factor which may materially affect the sustainable long-term performance of a fund’s assets, including factors of an environmental, social and governance character. This concept applies across all assets and categories of assets and should promote the interests of a fund in a stable and transparent environment."


    • Regulation 28 and stakeholder engagement 2009 - 2011 documents (below):


2011_NT_reg28_Reg 28 Comments Matrix.pdf 2011_NT_reg28_Reg 28 Comments Matrix.pdf
Size : 209.069 Kb
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2011_NT_reg28_Reg 28 for Budget 2011.pdf 2011_NT_reg28_Reg 28 for Budget 2011.pdf
Size : 70.133 Kb
Type : pdf
reg 28 Public forums rev 2.pdf reg 28 Public forums rev 2.pdf
Size : 1191.541 Kb
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20110223_NT_reg28_Reg 28 EM.pdf 20110223_NT_reg28_Reg 28 EM.pdf
Size : 78.599 Kb
Type : pdf
 
 
 
 
 


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"Graham brings energy, ideas and networks for solutions to complex challenges linking good business practice with good development practice. He is an exceptional facilitator of expert panels and groups of diverse stakeholders." Manager, international financing facility, international organization, Geneva.



"
Graham is as passionate about sustainability as he is about emerging markets and the African continent in particular. He is a very hard worker who sets about his taskas with enthusiaism and creativity.Those qualities were instrumental in ensuring a sizeable contingent of signatories to the Initiative in South Africa within a relatively short space of time. His skills and drive will be sorely missed."
CEO, PRI signatory organization.



“Graham is passionate and committed to Responsible Investment. I first became aware of Graham in his UN PRI role. More recently I have worked with Graham on the ASISA Prudential Assets Working Group. The group is working to improve collaboration and consensus in the investment industry on material Responsible Investment issues. A recent important result was the South African Treasury accepting and integrating into Regulation 28 of the Pension Funds Act, a recommendation from the work group that trustees of Pension Funds should consider material ESG issues for all asset classes. It has been a pleasure to work with Graham.” - Senior Investment Analyst, active ownership ESG asset management firm and colleague, ASISA, Cape Town, South Africa.

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