Wealth Feature: Record net inflows for the local CIS industry despite Covid-19 woes

Quite remarkably ASISA released research, which shows that South African investors committed R57 billion in net inflows to local Collective Investment Schemes (CIS) in the third quarter of this year, bringing to R165 billion the total net inflows for the 12 months to the end of September 2020. R23bn in Q1, R88bn in Q2, and then R57 billion in the third quarter, which was the third highest achieved over the past five years and what it shows is that investors didn’t panic, which is what Michael Avery has been trying to educate investors about, and hopefully this also means financial advisors are doing their job. Sunette Mulder, senior policy advisor at ASISA, shares the results.