R12bln investment fund rings fence around R800m amid taxi industry woes: Heystek weighs recovery prospects

One of the biggest enhanced income funds - the MI-Plan Enhanced Income Fund - has ringfenced about R800 million in assets.  In this interview with BizNews, investment strategist Magnus Heystek explains why this portion of the R12-billion fund has been side-pocketed for further investigation - after a challenge with an investment directly linked to the taxi industry.  He points out that the downturn in the economy, high interest rates, and high unemployment, have left many of the taxi operators unable or unwilling to repay their loans. Heystek gives his take on whether the money is actually lost and how long it could take to be recovered.