FSC Chief Executive speaks at the 2nd Edition of the Pension Funds and Alternative Investment Africa Conference

Mr Harvesh Seegolam also highlighted that to ensure the sustainable growth of the pensions industry and to overcome the challenges of an evolving market environment, it is important that pension funds are properly administered and managed: “Good governance is crucial to the good management of the funds thereby impacting directly on their performance”.

Speaking about the Mauritius jurisdiction, he explained the progress made in implementing a regulatory regime which promotes good governance, fairness and transparency in the private pensions sector. “We have enacted the Private Pension Schemes Act in November 2012 to regulate and supervise our private pensions industry. The new framework is in line with the IOPS/ OECD standards and strikes the right balance between a business-friendly environment and sound regulation aiming at ensuring good governance, protection of members and financial stability”.

The Chief Executive added that a significant number of licensees of the FSC including investment advisers, asset managers and CIS managers are already investing in assets, not only in Mauritius, but also throughout Africa and in India: “These investment professionals can be instrumental for the management of pension funds’ assets to be conducted within Africa”.