MoneyMarketing

Industry News

05 Jun 2019

Section 37C and nominees – can an artificial person be nominated?

Compiled by Lize de la Harpe, Legal Adviser at Glacier by Sanlam. Introduction In this article we will look at the wording of section 37C(1) of the Pension Funds Act No. 24 of 1956 (“the Act”) in order to determine if it leaves room for the trustees to consider an artificial person as the nominated...
05 Jun 2019

Income-first approach pays off for IFAs, says FMI

In almost any instance, a customer will intuitively match the products they buy with the needs they’re trying to fulfil. If you are thirsty, you buy something to drink – you don’t buy soap1. Life insurance however, operates in total contrast to this logic.
05 Jun 2019

Umbrella funds to disclose costs at individual member level from next year

Members of umbrella retirement fund solutions will be able to assess the total impact of charges on their individual retirement benefits from next year October, when members of the Association for Savings and Investments South Africa (ASISA) implement the new Retirement Fund Standard: Effective Annual Cost (EAC) for Individual Fund Members.
05 Jun 2019

Now is not the time to fight about the SARB's mandate

By MoneyMarketing Yesterday was quite a day for the country with the rand initially weakening after the release of SA’s dreadful Q1 GDP data ( -3.2% quarter-on-quarter seasonally adjusted and at an annualised rate).  There was, however, more bad news to come.
05 Jun 2019

Live in sunny SA while earning global returns

Investing offshore has nothing to do with patriotism. In the recent past, articles speaking about financial emigration and “rushing offshore” have painted a picture of Afro-pessimists and skittish investors. Nothing could be further from the truth, says Iza Wealth Director, John Rose.
05 Jun 2019

Dr Khoza joins Assupol Board

Assupol is pleased to announce the appointment of Dr Reuel Jethro Khoza as non-executive director and chairman on the boards of both Assupol Holdings and Assupol Life.
05 Jun 2019

Raising financially empowered children

Educating children on the value and consequences of money as early as possible can go a long way to preparing them for the real world. In a country with a poor savings record like South Africa, instilling early lessons about how to handle money and investing can make all the difference to the financial outcomes...
04 Jun 2019

'GDP figures confirm need for SA to urgently implement pro-growth reforms'

The much higher-than-expected negative GDP growth figures for 1Q 2019 reflect a large contraction in the economy in that quarter, ranking as probably the highest quarterly growth setback experienced in a decade. That’s the word from NWU Business School Economist, Professor Raymond Parsons.
04 Jun 2019

South Africa’s GDP growth rate gets stuck in crossfire in the US trade wars

The first quarter GDP growth of 2019 for South Africa was announced earlier today, and it is once again a negative number. The numbers are showing that the South African economy contracted 3.2% year on year, following a 1.4% growth in the previous period. It was the sharpest decline in the GDP since the first...
04 Jun 2019

Rand slumps in face of worst GDP performance since global financial crisis

By Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions. At -3.2%, quarter-on-quarter, seasonally adjusted and annualised, the first quarter GDP figure has come in far worse than the expected -1.6%, with manufacturing being one of the biggest contributors to the drop, falling by 8.8%. This is the biggest decline in GDP since the 2008 financial...

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