Property professionals operate today in an environment of ever increasing requirements for better transparency, disclosure, accountability and governance. Professional indemnity cover in the real-estate world is very similar to medical malpractice cover for doctors. While the sale of a client’s home may not require the precision of a surgeon, even a simple property deal can […]
By Citadel Senior Investment Strategist, George Herman Passive investment products are relatively new to the ...
Regulation has impacted how each and every stakeholder in the financial services industry conducts business, ...
By: Mohieddine (Dino) Kronfol – Chief Investment Officer, Franklin Templeton Global Sukuk and MENA Fixed ...
With the weather slowly warming up, many South Africans are using the good weather to ...
By Glacier Research, Glacier by Sanlam With the universe of collective investment schemes, or unit ...
- Q: How did you get involved in financial services - was it always something you wanted to do?
- A: Yes, at school I enjoyed maths and accounting, so something related to finance seemed like a logical choice. Accounting seemed a bit too dull and actuarial science a bit too statistical. I opted for investments and haven’t looked back since. Completing the CFA exams and becoming a charter holder became a priority. Now I’m fortunate to do something I love doing every day and call it work. I think a lot of people dread their day job and I consider myself lucky to not be one of them. I can’t really see myself doing anything else.
- Q: Investing in Africa is high risk? True or false or a bit of both?
- A: I think it’s true for most definitions of risk. Most African markets are considered to be ‘Frontier Markets’ and have historically displayed higher levels of volatility than more developed markets. However, with the higher risk also comes the opportunity for higher returns. Due to the superior potential for long term growth, as well as their uncorrelated nature to SA equities, a strong case could be made for a small but meaningful allocation to Africa ex SA equities.
- Q: Some investors believe they have sufficient exposure to Africa via the big SA corporates currently in Africa - what more is available?
- A: Sure, there are ways to get some Africa exposure via the JSE listed corporates that have an African footprint or have an Africa expansion strategy. However, the ex-SA revenue exposure for most of these companies still only makes up a small portion of total revenue. The majority of their revenue base is still from SA, for example Shoprite, although marginal revenue growth is coming from faster growing African economies. MTN is perhaps an exception, where the majority of the revenue base is generated outside SA. There are ways to access opportunities in these fast growing markets like Nigeria and Kenya in a more direct way. One way is through the Prescient Africa Equity unit trust fund which is priced in Rand.
- Q: What is the best and worst investment advice you have heard?
- A: The best advice was probably to avoid making investment decisions based on emotions. So if you have to choose between relying on the facts and your ‘gut-feel’, you should give higher weighting to the facts. The worst advice must be something related to the opposite: trust your gut, or ‘think about all the money you can make’. A ‘greed-bias’ can be very detrimental to investment returns.
I have really enjoyed Gill Marcus as our Reserve Bank Governor – I think she has not only done a superb job, she has said what needed to be said about the SA economy – without getting emotional, and her credibility as a professional, cool, inclusive leader is high. I was very sad to hear […]
Bestmed, one of the top five open medical schemes in South Africa, today announced its weighted average increase on gross contributions income at 8.59% for 2015, 0.11% less than what it was for the year 2014. The Scheme announced the increase at its product launch on 26 September 2014, in Johannesburg, which was simultaneously streamed […]
Regulators must get broker remuneration right to ensure wider access to financial services products Hundreds of independent financial advisers (IFAs) gathered at an industry summit in Rosebank, Johannesburg yesterday hoping to find out how proposed regulatory interventions may impact the sustainability of their livelihood and their ability to adequately service their clients. South African IFAs […]
From Old Mutual Wealth Rate hikes still loom It was a busy week for central bank watchers. The US monetary policy body, the Federal Open Markets Committee (FOMC) reduced its monthly bond-buying programme by another $10 billion, and is set to completely end this programme by October. At that point its balance sheet will have […]
Do the Saudis still hold all the cards and is a risk premium still justified? By Richard Robinson, Fund Manager at Ashburton Investments We thought we would use this opportunity to comment on a price move that has had many investors scratching their heads. Oil price moves of over 15% are certainly not uncommon, but […]
Entrepreneurs know all about business risk and cash flow risk, but there’s one risk they often forget … the risk of winding up broke once they retire. The prospect of being successful in business but cash starved in retirement has been highlighted by Lara Warburton, managing director of Imara Asset Management South Africa, a company […]
The latest annual report by the Council for Medical Schemes (CMS) has raised some concerns about the largely stagnant medical scheme membership growth of 1.1% in the past year and has flagged the importance of growing younger and healthier members if the industry is to remain sustainable. Alexander Forbes Health, a leading corporate healthcare consultancy […]
The Financial Planning Institute of Southern Africa (FPI) recently facilitated free financial planning sessions, to more than 2 200 South African’s during its annual Financial Planning Week. The sessions, emphasised the importance of safeguarding one’s financial future, through educating consumers on planning and managing their finances. During this week, everyday consumers were exposed to tools […]
As one of the larger medical schemes in the country, Fedhealth’s vision for this coming year is geared to maximising member value through innovation and by managing the risk pool. The Scheme announced yesterday that though there will be an overall average annual increase on the Maxima range of 10.6%, the benefit structure remains unchanged. […]
Genesis Medical Scheme is confident to announce that its 2015 average contribution increase of only 5.3%* will once again lead the industry as the lowest average increase coupled with substantial benefit increases for the third consecutive year. Genesis Medical Scheme’s 2015 average contribution increase of only 5.3%* will once again lead the medical aid industry […]
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Newsletter 25 September 2014: Disability in SA, the high net worth individual
We hope you enjoyed the holiday yesterday. Today we share two articles – the first […]
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