Fund sees future in Land Bank
27 September 2016 - 08:46
South African fixed-income asset manager Futuregrowth has lifted a suspension on buying the bonds of state-run Land Bank subject to amendments, it said yesterday. Futuregrowth, which manages client assets of about R170-billion, halted buying the debt of six state-owned firms - including power utility Eskom and logistics firm Transnet - last month, citing political uncertainty following investigations into Finance Minister Pravin Gordhan.
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