Monika Kraushaar highlights why stronger capability in unlisted investments is essential if retirement funds are to make fuller use of available infrastructure capacity. 

South African retirement funds have room to allocate far more to infrastructure, yet most remain in the single digits. In a recent Citywire South Africa article, RisCura’s Monika Kraushaar, Head of Investment Advisory, addressed the gap between regulatory capacity and actual implementation, pointing to a broader challenge for trustees, consultants and institutional investors. 

One of Monika’s key points was that regulation is no longer the main constraint. While the infrastructure limit has increased to 45%, many funds are still far from using that capacity. She noted that progress depends on whether consultants have the skills and confidence to assess the opportunities available in unlisted markets and understand the risks involved. 

It’s critical for us as asset consultants to really get to grips with the unlisted space.

She also highlighted the changing investment landscape. With fewer listed shares available, private markets may offer an additional source of diversification, provided liquidity and risk are managed carefully. 

The discussion points to a broader industry challenge: translating regulatory capacity into meaningful allocations will require the right advice, stronger implementation capability and a clear understanding of unlisted investments. 

Read the full article on Citywire South Africa here.