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July 2001
A bit bushed

In spite of Pres. George W. Bush refusing to ratify Kyoto on the grounds that there is no proof that global warming is caused largely by industry emissions, ICAO are taking the aviation side of it very seriously. Those fancy contrails you see...

July 2001
Conservative approach

Sanlam Unit Trusts has launched an International Gilt Fund of Funds to offer investors, who want a more conservative approach, an opportunity to minimise their risk in the volatile equity markets.
Fanie Lategan, executive head of Sanlam Unit...

July 2001
Phoenix wave

Liberty Unit Trusts has introduced a couple of new unit trusts to its armoury recently, and with somewhat exotic names, to boot: the Liberty Phoenix Fund; and the Liberty Global Fifth Wave Fund.
The first fund is intended for the aggressive...

July 2001
Complete re-branding

Liberty Collective Investments was formed in 1999 as part of the company’s overall restructuring process with the integration of two wholly-owned subsidiaries: Liberty Collective Investments Ltd (including Liberty Unit Trusts and Liberty Multi-...

July 2001
Future imperfect

Wrap funds are not likely to be phased out as a result of the introduction of capital gains tax (CGT) in October this year.
“The fact that some linked investment service providers are converting their wrap funds into funds of funds before...

July 2001
Boosting returns

The recent launch of the Innofin Cash Management Money Market Fund (CMF), introduces the first product from the joint venture of Sanlam and Macquarie Bank Ltd (Australia).
Innofin CMF is a money market unit trust with the promise of “money...

July 2001
Figured properly

PriceWaterhouseCoopers explains how CGT liability should be calculated. First of all you must add all the individual capital gains and losses together for the particular tax year.
For natural persons and special trusts, reduce this sum by...

July 2001
Affordable dig

Metropolitan Life has launched an affordable funeral policy, Funeral Funder, aimed primarily at first time insurance buyers. Premiums start at R35 per month and offer cover of between R10 000 and R15 000. Metropolitan’s marketing actuary, Jannie...

July 2001
Summary of working conditions

It now looks as if domestic workers will have to contribute to the Unemployment Insurance Fund. It is just another step in the formalisation and therefore demise of a sector that has for so many years provided a means of income for so many people...

July 2001

The linked investment industry is regulated by the Financial Services Board (FSB) in accordance with the Stock Exchange Control Act, the Financial Markets Control Act, the Pension Funds Act and the Insurance Act.
A client’s investment with...

July 2001
Wrapped up

Galaxy Portfolio Services, a Li subsidiary of the Old Mutual Group, now offers managed investment solutions through its range of multi-manager unit trust funds, complemented by a selected range of just more than 100 local unit trust funds.

July 2001
Response plan

Sanlam investors can now switch their existing savings policies to a Stratus product.
Lizé Lambrechts, executive head of Sanlam Life, says the decision was based on the popularity of Stratus as a savings product and the numerous enquiries...

July 2001
All in one

Estimating risk
Political risk was long considered uninsurable and was not covered by private credit insurance or reinsurance. Today, by contrast, experts generally take a positive assessment of the insurability of political risk.

July 2001
Risky but vital

The financial services sector is among those showing great need and potential for business-to-business (B2B) ecommerce, hut as with any industry, such ventures within it must have critical mass. So says Malcolm Estment, research and development...

July 2001
Affordable US way

Coordinated Healthcare Providers (Pty) Ltd (CHP) recently introduced a healthcare model to provide ‘affordable cover to the majority of the employed population who currently do not enjoy private medical benefits.’
According to research there...

July 2001
Down to business

The Financial Advisory and Intermediary Services Bill (FAIS) is to go before Parliament in August and is likely to become law the beginning of next year.
The purpose of the bill is ‘to regulate the rendering of financial advisory and...

July 2001
Personal insurer

The South African Financial Services Intermediaries Association (Safsia) named short-term insurer Santam Limited as Personal Insurer of the Year for the fourth consecutive year. The award was presented 15th May 2001.
“Santam is delighted...

July 2001
Brokers brief

Sanlam has recently launched its “advice campaign” to spearhead an initiative to further inform and educate both financial advisers and their clients ahead of impending consumer legislation.
According to Deon Lessing, Marketing Director of...

July 2001
Cessions uncovered

The Financial Services Board (FSB) warns the public to be wary when dealing in second hand policies as the cessions are not covered under the Long-term Insurance Act.
Head of the FSB’s Market Conduct department, Oppies Opperman, says, “...

July 2001
Beating the rip-off

We all hate banks, especially when we realise that South African institutions are one of the few in the world that levy fees for using a cheque account.
A grocer will buy in his vegetables and other foodstuffs at a wholesale price and sell...

July 2001
Supporting success

Intermediary Portfolio Administrators (IPA) has introduced a new service to insurance brokers and insurance companies, which could save them up to 90% of their time that they spend on administration-related tasks. IPA says it is able to take over...

July 2001
Caught mid-field

Mutual & Federal is on track to acquire the minority shareholdings Sentrasure for about R133m, affording it 100% control. A cautionary notice at the end of April alerted markets to the fact that the offer to minorities was imminent. The...

July 2001
Second half improvement

Poor investment markets affected Sage Group’s earnings for its overall year to 31’ March 2001. However, within the year’s figures were indications of a definite improvement during the second half of the year, and dividends have been maintained....

July 2001
Unhappy camping

The first interim payment in settlement of Massmart’s Makro fire insurance claim was made 1 June by insurers AIG and Mutual & Federal who provide the commercial fire risks for the wholesale and retail group. The total settlement amount is...

July 2001
New e-business

SA Eagle has recently introduced a new e-Business initiative that places the client, broker and insurer on an online trading platform.
Called Brokerstrat, it’s a complete broker delivery system offering direct access to the SA Eagle...

July 2001
Public code

In line with the long-term assurance industry’s commitment to self-regulation, the members of the Life Offices’ Association (LOA) have adopted a Code on Assistance Business, says executive director Gerhard Joubert.
In South Africa,...