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Industry News

10 Oct 2019

Classification of SA hedge funds underway: ASISA

South African hedge fund managers have begun the process of categorising their hedge fund portfolios in line with the provisions of the new Hedge Fund Classification Standard, which was recently introduced by the Association for Savings and Investment South Africa (ASISA). The new ASISA Hedge Fund Classification Standard comes into effect on 1 January 2020.
10 Oct 2019

Investec becomes first issuer to list ETNs on A2X today

Two of Investec Bank Limited’s market-leading exchange traded notes (ETNs) become available for trade on A2X Markets today. Investec Top 40 Tri ETN (TOPTR2) Investec Swix Top 40 TRI ETN (SWXTR2)
09 Oct 2019

FSCA conducts a search at Sekunjalo Investment Holdings

The Financial Sector Conduct Authority (FSCA) says in a statement that it today conducted a search and seizure operation at the premises of Sekunjalo Investment Holdings (Pty) Ltd.
09 Oct 2019

Old Mutual: Summary of arguments in contempt affidavit

The legal battle between Old Mutual and its former CEO, Peter Moyo continues. Today, Old Mutual issued a summary of the arguments contained in the contempt affidavit:
09 Oct 2019

STANLIB appoints seasoned executive to Index Investments team

STANLIB has announced the appointment of Rademeyer Vermaak as Head of Portfolio Management to its Index Investments team, effective 1 December 2019. Together with Portfolio Managers, Ann Sebastian and Ryan Basedeo, Rademeyer will be responsible for overseeing client portfolios and managing assets of over R50 billion.
09 Oct 2019

Financial literacy: The gift that keeps on giving

By David Kop, Executive Director of Relevance at the Financial Planning Institute of Southern Africa. Our country is in the midst of a savings crisis. Most South Africans simply don’t have enough money to support themselves in retirement. The best – indeed, the only – chance of correcting the situation is for all of us...
09 Oct 2019

South Africans must speak up to protect their retirement funds – IRR

The Institute of Race Relations (IRR) today launched the second phase of its #SaveOurSavings campaign. “This phase of the campaign will focus on pressuring fund managers to determine what they are doing to protect the savings of ordinary South Africans,” the IRR said in a statement today.
09 Oct 2019

FirstRand's shareholders to vote on climate risk transparency

FirstRand’s Notice of Annual General Meeting, released on 8 October 2019, includes two climate risk shareholder resolutions proposed by the RAITH Foundation and non-profit shareholder activism organisation Just Share.
09 Oct 2019

52% of South Africans not saving for a rainy day

Research from Budget Insurance reveals that just over half (52%) of South Africans aged between 18 and 55 years old say they are saving for an emergency but many would not be able to cover an unexpected expense of R10 000.
09 Oct 2019

Creative destruction in our banking industry

By: Kokkie Kooyman, Director and portfolio manager, Denker Capital Globally, consumers respond to companies that meet their need for convenient services. They vote with their feet. Those companies that don’t evolve are left behind and inevitably must retrench staff. Banks are no different and risk losing clients to their faster-moving competitors or new fintech start-ups (examples in...

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