Regulation 28 orientation

Regulation 28 sets prudential investment limits for retirement funds in South Africa. Boards and investment professionals use it as a constraint set when designing and monitoring policy. This page is orientation vocabulary — not a portfolio compliance check.

Asset-class limits, look-through, and reporting disciplines matter operationally. Hypothetical: Fund A (hypothetical) might document a policy allocation band for illustration in a workshop pack. That label is teaching vocabulary, not a real fund investment policy.

When a pack cites Regulation 28, ask which as-at date, which look-through method, and whether breaches (if any) have remediation plans. Do not treat education copy as a breach determination.