We’re sure by now you would have heard the news about Absa closing down its Money Market Fund.

According to this article on The Citizen’s website Something amiss about Absa Money Market closure | The Citizen, Absa tried to explain the fund closure “with references to research about what consumers want, saying the bank is simply responding to that. There were also hints that customers were using it as a bank account instead of an investment account and therefore the fund had to go.”

Investors have been given 90 days from the date on the notice from Absa (7 April 2021) to decide what they would like to do with their funds invested in the Absa Money Market Fund.

Should you or anyone you know require any assistance regarding this matter please call us on 011 486 2500 or email info@globallocal.co.za.