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Industry News

10 Jun 2021

Sharing Alpha releases updated list of top rated funds

Fund selectors are asked to rate the funds based on their expectations in terms of the fund's chances of outperforming in the future. The 3 parameters on which the overall rating is determined are factors that are expected to influence future performance:
09 Jun 2021

Sanlam Benchmark 2021: The devastating impact of COVID-19 on retirement

Research to be released on 22 June will show how the COVID-19 pandemic has impacted the employee benefits industry and retirement prospects of South Africans. For 40 years, the Sanlam Benchmark findings have helped the retirement industry navigate the complexities of the sector and guide members through the challenges they experience in planning for retirement.
09 Jun 2021

Appetite for offshore investing increasing

“We live in a global village and as such we’ve seen increased appetite from investors for moving money abroad,” Jeanette Marais, Momentum Investments CEO and Deputy CEO of Momentum Metropolitan, told the recent Momentum Investments Global Matters conference – an annual event aimed at equipping advisers with insights to enhance discussions about offshore investing.
09 Jun 2021

Why SARS should be more clear on tax compliance for cryptocurrencies

It has been more than three years since SARS’s media statement on cryptocurrencies. In this statement, SARS said that it would apply “normal income tax rules” to cryptocurrencies when assessing whether a gain is revenue or capital in nature, and that crypto assets are not seen as currency for income tax purposes.
09 Jun 2021

Q1 GDP still 3.2% y-o-y smaller

Statistics South Africa (StatsSA) reported on June 8 that the South African economy expanded by 1.1% quarter-on-quarter (q-o-q) and by 4.6% q-o-q on a seasonalised adjusted an annualised rate (saar).[1] Despite the positive growth rate, the economy was still 3.2% year-on-year (y-o-y) smaller during the period.

08 Jun 2021

Five questions small businesses should ask before applying for funding

The global economic landscape has undergone a seismic shift since the arrival of Covid-19 over a year ago. However, while the pandemic caused significant business challenges, it also triggered and accelerated many innovations as organisations adapted to change, often simply to survive. The net result of all this innovative thinking has been widespread recognition by business owners of the need to pivot, reposition or expand their operations as a means of securing sustainable growth in the future.
08 Jun 2021

SA's Q1 GDP increased at an annualised rate of 4,6%

South Africa’s gross domestic product (GDP) increased at an annualised rate of 4,6% in the first quarter of 2021, Statistics SA said today. Finance, real estate and business services increased at a rate of 7,4% in the first quarter, and made the largest contribution to GDP growth, namely 1,5 percentage points.
08 Jun 2021

Remaining invested during the uncertainty of the past year was the right thing to do

We are well into winter and approaching the midpoint of 2021. The contrast with the same point a year ago is notable. Back then, South Africa was about to be knocked down by the first wave of Covid-19 infections.

08 Jun 2021

BlackRock's Weekly Market Commentary: ECB - Keeping up the pace

We expect the ECB to maintain its current pace of asset purchases even as the economic restart gains traction. We wouldn’t view a decision to slow purchases as a hawkish policy signal, as the ECB is focused on keeping financing conditions easy. This, and a Federal Reserve that we see keeping policy easy, provides a positive backdrop for risk assets including European equities, in our view.
08 Jun 2021

Public invited to submit comments on FSCA candidates

The Financial Sector Conduct Authority (FSCA) Shortlisting Panel invites the public to submit comments, if any, on two candidates it intends to recommend to the Minister of Finance (Minister) for consideration for appointment to the positions of Deputy Commissioners of the FSCA.

Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za