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Industry News

31 Jul 2019

Old Mutual to appeal High Court ruling granting former CEO Peter Moyo interim relief

Old Mutual says after considering the terms of the judgment and taking legal advice it will immediately apply for leave to appeal against the High Court decision to grant former CEO Peter Moyo temporary reinstatement following his dismissal as CEO in June.
31 Jul 2019

Fed’s first interest rate cut in a decade: the winners and losers

There are winners and losers from today’s US Fed rate cut of 25 basis points, the first in more than a decade – and U.S. and global investors now need to revise their portfolios, warns deVere Group’s International Investment Strategist, Tom Elliott.
31 Jul 2019

How you should choose a DFM

Skill, scalability and simplicity.  Those are the three key features to look for in a discretionary fund manager (DFM), according to Leigh Köhler, head of Investment Solutions at Glacier, speaking at the inaugural Glacier Invest Summit in July 2019. More than 400 financial intermediaries attended the events and were exposed to a plethora of issues...
31 Jul 2019

Industry body responds to the draft Section 12J changes

Last week, the 2019 Draft Taxation Laws Amendment Bill (TLAB) was released and contains proposed amendments to certain elements to the Section 12J tax incentive.
31 Jul 2019

FSCA provisionally withdraws license of Stringfellow Financial Services

The Financial Sector Conduct Authority (FSCA) is currently investigating allegations of misappropriation of investments and incorrect financial advice given by Stringfellow Financial Services (Pty) Ltd (Stringfellow Fin Services) director, representative and key individual, Mr Thomas Stringfellow.
31 Jul 2019

The Free Stokvel

Stokvels are found in many places: your work office, among church ladies, and even men are starting to use stokvels as a means to save. Although reasons for saving differ, the method remains the same. Members contribute a monthly or weekly fixed amount of money into a savings account, allowing participants to build towards lump...
31 Jul 2019

Tax tips for pensioners

Retirement planning can be a minefield. Not only do you need to start thinking about lifestyle changes but preparing for a sound financial retirement is challenging. Research shows that most people start thinking about their retirement only as from the age of 50, but if you want to maximise your income and minimise your tax...
31 Jul 2019

Five ways in which your conduct could invalidate your insurance policy

By: Deanne Wood, Ombudsman for short term insurance Insurance can be incredibly complex and every policy is different.  However, consumers must read and understand their policy terms and conditions carefully, as well as play open cards with their insurer or broker at all times, to avoid an insurer cancelling their cover or not paying out...
31 Jul 2019

The lost decade of the JSE: SA small- and mid-cap shares

By Vanessa van Vuuren, portfolio manager at Sanlam Investments The small-cap premium – fact or fiction? Since Eugene Fama and Kenneth French first published their US-focussed research around the so-called “size” or “small-cap premium” in 1992, debate has ebbed and flowed around whether this premium does in fact exist. In theory, the notion of a...
30 Jul 2019

Unemployment highest in history of the QLFS data

By Siphamandla Mkhwanazi, FNB Economist. Unemployment edged up to 29.0% in 2Q19, from 27.6% in 1Q19. This marks the highest unemployment print to date (since the inception of the QLFS survey in 2008). We read this as a lagged effect of poor economic activity in 1Q19 (unemployment tends to have a delayed reaction to economic...

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