Furthering financial inclusion through retail asset management in South Africa
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Date
2018
Authors
Steppe, Grant Michael
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Abstract
This study looks to increase the level of financial inclusion in South Africa by
providing insight around the local savings environment and in particular the unit
trust industry. The study therefore looks to asses the determinants of unit trust
investment in South Africa.
Although a large quantity of research has been done in order to better
understand savings and financial inclusion in South Africa, relatively little
research has been conducted on the role that collective investment schemes
play in engendering savings and creating a more financially inclusive
environment. Collective investment schemes, such as unit trusts, are an
effective way of exposing savings to higher rates of compound interest and
should form an integral part of any savings portfolio. The study has found that
various elements such as education and the nature of bank account usage have
a direct impact on the rate of unit trust investment in the country. This presents
an initial step towards better understanding the determinants of unit trust
investment in South Africa, but there is still much to be done.
The research follows a mixed method approach and used an anonymous
survey to gather data from banked South African citizens.
It is hoped that the research will go some way towards aiding financial service
providers to better understand their customer base in South Africa.
Description
MBA
Keywords
Financial institutions -- South Africa. Microfinance -- South Africa. Financial literacy -- South Africa.