BlackRock has been given the nod by regulators to offer a range of offshore funds to South African investors.

It means local asset managers, retirement funds and insurers will have access to 26 iShares ETFs.

Retail investors can also gain exposure as financial advisers in the country have been given a range of 17 funds to choose from.

The world’s largest money-manager opened an office in Cape Town in 2012 but has been investing in South African companies for more than two decades. 

BlackRock's iShares unit and rival heavyweights Vanguard and State Street control two-thirds of the global ETF market.

In a statement on Tuesday, BlackRock's managing director for South Africa, Barbara Vintcent, said the newly registered fund offering will give local fund managers exposure to a broader range of sectors and geographies.

Funds tracking the global infrastructure sector and developed market property will be on offer and form part of BlackRock’s ‘beta’ investment offering.

“Offshore diversification has become increasingly important to South African investors,” added Vintcent.

Global Investor/ISF hosting its second South Africa Securities Finance Masterclass in Cape Town on 7th April.

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