The sector’s exposure to cash also increased, from 11,68% to 17,22%. The sector’s exposure to bonds decreased from 11,82% to 6,65%. The sector’s exposure to foreign assets declined by 10,92 percentage points, from 17,57% to 6,65%. The sector’s exposure to domestic assets increased by 10,92 percentage points, from 53,25% to 64,17%.
The investment in listed equities also saw a minor increase, moving from 16,49% to 16,59%. The investment in property remained stable at 10,39%. The investment in cash and cash equivalents saw a slight decrease, going from 10,95% to 10,85%. The investment in fixed income securities decreased from 25,95% to 25,75%. The investment in alternative investments rose from 1,90% to 2,00%. The investment in hedge funds increased from 0,40% to 0,50%.
The FUM has grown by 12.5% over the past year, driven by a 15% increase in assets under management (AUM) and a 10% increase in net new assets. The growth in AUM was primarily due to the successful performance of the fund’s investment portfolio, which saw a 17% increase in returns. The fund’s asset allocation strategy, which focuses on diversification across various asset classes, has also contributed to the growth.
The concern comes after securities investment managers recorded a 1 311% jump in operating costs to management fees which the capital markets regulator rated as critical.
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