Emmerson Njanjamangezi, Group Features Editor 
IMARA Asset Management (Imara) says rising inflation is piling pressure on local pension funds and insurance companies as money market assets are no longer an option.
In a recent note, Imara chief executive John Legat said local pension funds and insurance firms are particularly restricted because they cannot convert their ZWL cashflows into US$ for investments offshore or on the Victoria Falls Stock Exchange.
“With interest rates set at around 20 percent in ZWL, money market assets are not an option, with inflation now rising again from the August low of 50 percent. Trustees rightly have a fiduciary duty to protect the real value of the assets under their control and the ZSE becomes the only liquid and viable option,” Legat said.
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