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August 2000
Reclassification explained - 3

World-wide funds are unit trusts that invest in both South African and foreign markets. A minimum of 15% of the assets should be held in South African markets at all times and usually between 15% and 50% is invested...

August 2000
One umbrella

In a bid to reduce the complexities of offshore Sanlam recently introduced its ‘Offshore’ series, which is aimed at the middle to higher income group.

The product effectively assembles the wide range of...

August 2000
Some concern

The assets of the unit trust industry rose just 2% from R117,34 billion to R119,69 billion during the second quarter this year. For its latest report to June 30 2000, the Association of Unit Trusts (AUT) also confirms...

August 2000
Words of wisdom

Responding to a growing demand for a single entry point into a broadly diversified vehicle for local and international investments, Sage Unit Trusts will shortly extend its fund family with the launch of its tenth...

August 2000
Quite frankly

Liberty Multi-Manager is a division within Liberty Collective Investments, a new business unit in the restructured Liberty Group. The division was officially launched in March 2000. It exclusively markets and...

August 2000
Global goal

The Liberty Life Group has launched a life cover product that is payable in US dollars, anywhere in the world, and is legally available to South African residents.

The premiums are also payable in dollars...

August 2000
Mixing managers

The past few years have seen an explosion in investment options and unit trust offerings available to South African investors. There has been phenomenal growth in the number, classes and types of unit trust funds and...

August 2000
Electrical fault

Under the Occupational Health and Safety Act it is mandatory for each and every homeowner, whether they have just purchased a property or have been living in the same home for years; to have a valid Certificate of...

August 2000
A promise

Association of Unit Trusts (AUT) members recently adopted a formal Code of Ethics, committing them to conducting their business “in accordance with the law, the highest standard of ethical behaviour and a sense of...

August 2000
Blind spot

In terms of the Broadcasting Act 1976 a person who owns a television set is required to pay a licence fee — currently R208 per annum — to the SABC.

But supposing the TV owner did not want to watch any...

August 2000
Note for policyholders

The purpose of the Policyholder Protection Rules for both long-term and short-term insurers is “to enable the policyholder to make informed decisions”, and “to ensure that intermediaries and insurers conduct their...

August 2000
Jinxed?

With uncanny accompaniment to the Concorde disaster of July 25, problems affected no less than three separate British Airways Concorde flights over the following weekend.

The BBC reports that on Sunday...

August 2000
Vain checks

When Captain Christian Marty refused to take off until repairs had been carried out on one of his Concorde’s four engines, little did he know that his concern for safety was to be in vain. Apparently, he had over-...

August 2000
Better support

It looks like the long-awaited laws governing the registration of insurance brokers have stumbled into fruition.

The Financial Services Board has recently presented a revised draft of what is now called ‘...

August 2000
All play and no work

So-called ‘drug abuse’ is apparently rife in the work place. Apart from interfering with productivity it is also increasingly found to be the initiating cause of occupational death and injury.

For example...

August 2000
Broker partner

Mutual & Federal says it is keen to work in partnership with “all sections of the broker community” in the emerging e-business environment. A test phase covering claims information is currently being conducted...

August 2000
Disposed towards….

There is still a need in South Africa for insurance against damage to property caused by political acts as provided by SASRIA Ltd (formally the South African Special Risks Insurance Association), according to a...

August 2000
Continued growth despite higher tax

Sage Group says the new basis of taxation is “manifestly inequitable for life assurers and their clients,” noting that it suffered a R289m tax impact on its financial and embedded value results for the latest...

August 2000
Well meaning

There is a proposal for a Statutory Ombudsman to oversee complaints procedures in all the financial service sectors falling under the jurisdiction of the Financial Services Board. These include short-term insurance,...

August 2000
Under statute

A proposed new structure whereby the short-term insurance ombudsman will no longer report directly to the industry has been developed and accepted by members of the South African Insurance Association (SAIA),...

August 2000
Promoting skills

The Liberty Life Group says that its “Franchise Academy” is proving a great success and has already achieved a turnover of R186m since it was set up in 1998. It’s an intermediary training division that develops...

August 2000
Horrifying statistics

The South African Police Service and TRACKER say they have scored another direct hit in the fight against crime with the latest chop shop bust that took place in Barcelona, an informal settlement in Kwa Thema, Springs...

August 2000
Participation bonds

Given market expectations that interest rates may rise later this year, ABSA Participation Bonds is now giving investors the opportunity to benefit from this possible increase immediately.

It will also...

August 2000
Worse results

Last year was a poor year for the short-term insurance industry. But the results recently announced by the Financial Services Board (FSB) for the first quarter of this year, show it to be one of the worst on record....

August 2000
Counter strike

It was over a hundred years ago that an expert was commenting on the use of horses in London. He said that at the current rate of traffic the accumulation of manure would close Regent Street completely within four...