Fund manager reassures investors amid Steinhoff share crash

JOHANNESBURG – Cape Town-based fund manager, 10X Investments’ chief executive Steven Nathan on Thursday told investors that Steinhoff International’s heavy losses had not had a material impact on the financial group’s own funds.

Nathan’s assertions were meant to steady nerves of 10X’s investors as news organisation Moneyweb reports that “virtually every South African with investments in the form of retirement savings via retirement annuities or provident and pension funds, will all be poorer because of what has happened to Steinhoff”.

Moneyweb reported that the Government Employees Pension Fund (GEPF) would be hard hit.

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