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Industry News

25 Oct 2017

MTBPS: Growth projection revised down

The Medium Term Budget Policy Statement (MTBPS), released today, has lowered South Africa’s economic growth forecasts, relative to those contained in the February Budget 2017 forecasts. The 2017 Budget projected GDP growth of 1.3 percent in 2017. That projection has been revised down to 0.7 per cent, following a recession in the fourth quarter of...
24 Oct 2017

Discovery publishes life assurance claims

Discovery Life has published insights of its life assurance claims from January 2016 to December 2016. A total of 20 247 claims were paid over the period, amounting to R3.2 billion. This brings the total amount that Discovery Life has paid out to date up to R18.7 billion.
24 Oct 2017

Staying on track for a good score in a high risk, low return environment

By Nick Curtin, Head of Business Development at Foord Asset Management. As the need for capital preservation and cautious portfolio positioning becomes more apparent, Head of Business Development at Foord Asset Management, Nick Curtin, unpacks the strategic stance Foord’s portfolio managers have adopted given the prevailing high-risk, low-return environment.
24 Oct 2017

WARNING: Fibre can stop your home alarm system from working

The nationwide rollout of fibre in South African homes is apparent around almost every residential corner. However, along with the major advantage of added connectivity comes an unknown impact on the operations of home alarm systems, placing residents at risk.
24 Oct 2017

Actuaries develop model to guide transformation

The Transformation Committee of the Actuarial Society of South Africa (ASSA) has deployed a unique demographic projection model to help focus the profession’s transformation initiatives, says its president, Professor Roseanne Murphy Harris.
24 Oct 2017

TAX: Understatement penalties for gross negligence

By Joon Chong, Partner, Tax Practice and Hillary Botha, Candidate Attorney at Webber Wentzel The Tax Court handed down judgement on 18 August 2017 in the case of ABC Proprietary Limited v C: SARS. The case primarily deals with understatement penalties in respect of both Value-Added Tax (VAT) and income tax defaults, in terms of...
23 Oct 2017

Investors closely watching 2017 MTBPS

Investors will be looking to the Finance Minister Malusi Gigaba’s Medium Term Budget Policy Statement (MTBPS) this week to provide more certainty about the commitment of the government to fiscal consolidation, reform of State-owned enterprises (SOEs) and a higher economic growth rate.
23 Oct 2017

Old Mutual provides customers with extra funeral cover worth R450 million

Old Mutual is pleased to announce that over half a million customers who have held Old Mutual funeral policies for three to four years will receive a share of R450 million in extra funeral cover.
23 Oct 2017

BlackRock mulls potential secondary listing of Greater Europe investment trust on JSE

BlackRock is exploring a potential secondary listing of its Greater Europe, equities-focused, investment trust on the Johannesburg Stock Exchange (JSE) via the JSE’s fast-track listings mechanism. BlackRock Greater Europe Investment Trust plc (BRGE), which currently has a market capitalisation of £313 million (R5.5 billion)[1] has a primary listing on the London Stock Exchange, where it...
23 Oct 2017

Yet another industry award for Private Client Holdings

Private Client Holdings has scooped no fewer than four industry awards this month, including the Financial Planning Institute’s prestigious ‘Financial Planner of the Year’ award and ‘Best Adviser Firm – South Africa’ at the International Adviser Best Practice Adviser Awards 2017 – an event where they also claimed top honours in two other categories.

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