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June 2000
Reclassification explained - 1

Domestic Funds are unit trusts that invest at least 85% of their assets in South African investment markets at all times.
And, further, they are ‘Equity funds’ if the unit trusts invest predominantly in...

June 2000
Take your pick

The first quarter of the year culminated in the unexpected but well-merited upgrading of SA debt by Standard & Poors. There is also encouraging evidence that South Africa is in the early stages of an economic...

June 2000
Wap!

Geckotech Information Solutions (G1S) says it has recently launched a new software program mainly suitable for the Financial Services Market. It can also been adapted, for example, to meet the specific needs of direct...

June 2000
Take heart

It’s so easy to be a lifesaver. All you have to do is lie down for half an hour every 56 days and give blood!
Kindly note that the following information specifically refers to practices in KwaZulu-Natal,...

June 2000
Reducing tax

Employers used to receive tax rebates on contributions paid in respect of benefit funds — an obvious incentive to employers to supply benefits. However, on January 1 2000, benefit funds lost their tax approval status...

June 2000
Not what it seems: the plastic lie

It has taken eighteen months to sort out my case with the SABC over its aggressive handling of non-payment of a TV licence. I had decided to defend my position, firstly, as a matter of principal against a monopolistic...

June 2000
The SABC replies

It is true that, during the early part of 1998, a number of SuperCards were issued to TV Licence clients who had, in fact, not yet renewed their licences. This led some of these viewers to assume that they did not...

June 2000
Freedom to expand

Credit insurance is more than an arrangement to pay premiums in return for protection against non-payment by debtors. There are hidden benefits that can help a business to grow.
Graham Kockott, managing...

June 2000
Avoiding conflicts of interest

In a recent court case in the United Kingdom a judge ruled that an effective ‘Chinese Wall’ needs to be established as part of an organisational structure of the firm and cannot be created ad hoc.
A...

June 2000
The need for monitoring

The plethora of investment options available to South Africans has led over the past few years to the development of a range of innovative vehicles aimed at making the choice and management of investments easier and...

June 2000
Consumer confidence

The long-term assurance industry experienced a reasonably successful year in 1999, with total income rising 10,2% to R132 878m, according to the latest statistics from the Life Offices’ Association (LOA). This...

June 2000
A lapse of morals

The Financial Service Board (FSB) is now keeping a closer eye on life assurers’ lapses and surrenders, following its call for separate, more detailed reporting on a regular basis.
According to the first...

June 2000
Wider choice

Pentagon’s employee benefits division offers employers “an independent, proactive and personalised approach.” It clearly hopes to acquire business in a sector which, it says, “has to date been dominated by limited...

June 2000
Fuel problems

Aircraft cover
Moving on to Section Two, this covers aircraft in your custody and control. “But”, I hear you say, “1 don’t have any aircraft, I have an airport”. You have forgotten that you graciously...

June 2000
Gauging the trends

The underwriting results of typical non-life insurers from January to June 1999 showed a substantial increase in losses compared to the same period in 1998. It was so bad in fact, as Steffen Gilbert, MD Munich Re, “...

June 2000
Niche growth point

Clientele Life’s trading results for the six months ended December 31 1999 reflect continued solid growth. Commenting on the results CEO Gavin Soll said that he was pleased to report ongoing success in the areas of...

June 2000
Dire disincentive

Absa Bank says the proposed capital gains tax (CGT) may have a negative impact on economic growth and therefore yield few benefits for South Africa.
In its latest economic spotlight it says the proposed...

June 2000
Practical security

Fedsure General has recently launched a short-term insurance product for ‘healthcare practitioners’, called Practisure.
It covers the contents of a medical practitioner’s consulting rooms, including...

June 2000
Slim chance

The increasing incidence of HIV and AIDS is having a far-reaching effect on the employee benefits industry in SA. The following statistics tabled in a report recently prepared by the World Health Organisation in...

June 2000
Future prospects

The major short-term insurers have traditionally tried to be all things to all people. Indeed, they have generally believed this was precisely their forte. But there appears to be a change in philosophy, not only...

June 2000
Different benefits

Multi-management can be defined as the blending of the skills of different investment managers.

Since December 1998, Sage Life says its unit trusts have been managed on a full multi-manager basis by a...