Budget 2026: why advisers should revisit every client plan
From CGT thresholds to small business tax and foreign allowances, Ronald King identifies the changes that could materially reshape financial plans.
#collectiveinvestmentschemes
Treasury signals overhaul of CIS taxation
The proposal is to reclassify all returns from collective investment schemes and retail hedge funds as capital gains.
Alexforbes named SA Manager of the Year at Raging Bull Awards
Sasfin and Sygnia were the runners-up.
Transitional delegations under the FSRA pushed to 2028/29
New end-dates extend the temporary allocation of certain supervisory duties to the FSCA and PA while regulatory frameworks are finalised.
Second-highest quarterly CIS inflows on record in Q3
For the first time since 2020, a meaningful share of the quarterly inflows came from new capital rather than reinvested income.
Treasury concedes on one CIS tax proposal, holds firm on another
National Treasury has withdrawn its proposal that would have triggered capital gains tax when fund managers merge collective investment scheme portfolios.
Treasury urged to retain tax relief for manager-initiated unit trust transactions
ASISA says further consultation is needed to avoid negative consequences for investors and the collective investment schemes market.
Treasury publishes tax changes affecting pensions, trusts, and individuals
In addition to foreign pensions and trust income, the measures affect death benefits, child maintenance, capital distributions by unit trusts, and assessed losses.
FSCA publishes comprehensive Conduct Standard for CIS managers
The Conduct Standard establishes mandatory risk, compliance and internal audit functions, plus notification and approval requirements for key appointments.
CIS industry tops R4 trillion as investors ride JSE rally
Only R23bn of the R146.13bn in annual net inflows was fresh capital, yet reinvested dividends and interest helped push AUM to R4.16 trillion.
Strengthening South Africa’s sustainable finance framework
The FSCA’s Sustainable Finance Programme seeks to harmonise local markets with global ESG standards – focusing on taxonomy, disclosure, reporting and investor education to bolster climate resilience.
Collective investment schemes post strongest quarterly inflows in years
Despite a turbulent first quarter marked by political discord and trade-tariff shocks, CIS managers attracted R48bn in net inflows – the highest quarterly figure since 2020.
Exemption clears money market portfolios to invest in Zaronia instruments
The exemption waives the requirement for known-in-advance rates, letting money market portfolios invest in Zaronia-linked overnight placements.
Levies and fees weighed as PA prepares to regulate CISs and retirement funds
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
Retail hedge funds surge as industry hits record growth
A decade after the introduction of hedge fund regulations, retail investors are driving strong growth, with RHFs attracting R11.84 billion in net inflows in 2024.
ASISA rejects proposed ‘dualistic nature’ of CIS portfolios
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
Record R35.25bn outflow marks cautious year for South Africa’s CIS market
Reinvested income and strong interest-bearing portfolio performance led to net inflows of R85.82 billion in 2024.
