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December 2003
Doggone it

The National Council of Societies for the Prevention of Cruelty to Animals (NSPCA) was very upset with my article on Public Liability: ‘Dogs threaten all life forms’ (see Insurance Times & Investments Vol 16.5...

December 2003
No to negative

According to PSG, people close to or in their retirement years cannot afford a single negative year. This is evident in some case studies, which show the true effect of the downside on an investment portfolio....

December 2003
Way to go

Strategic expansion by First Link, the short-term broker specialist in the First Rand Group, has signalled the renewed confidence in leading brokers resulting in the continuing demand for intermediary services....

December 2003
Easy if you follow the rules

In Part 1 we discussed provisional tax, expenses and VAT. In this second part we conclude our notes on the tax and business management aspects of a Sole Proprietor.
Depreciation
When you buy an asset...

December 2003
News snippets

The aviation market is shrinking further, according to aviation consultant, Henry Tours. He says that more withdrawals have hit the aviation market. Deutsche Luftpool looks likely to pull out. Allianz, the largest...

December 2003
Equity inflows double

Strong third quarter inflows have pushed unit trust industry assets to well over the R200 billion mark as South Africans invested heavily in unit trusts for the second successive quarter.
Association of...

December 2003
Not so simple

The asset management industry is being flooded with so-called ‘absolute return’ type investments, and their benefits against any disadvantages are not always explained.
Comments Bernard Fick, Head of...

December 2003
Needing advice

Regulation has an ever increasing impact on the asset management and retirement fund industries, both locally and abroad according to Neil Lloyd, head of the Retirement Fund consulting division at Alexander Forbes....

December 2003
Sound advice

Many investors are confused enough about the traditional asset classes on offer, without having to consider the non-traditional asset classes such as hedge funds. Yet without sound financial advice they may fail to...

December 2003
Window of opportunity

STANLIB says that falling interest rates at the same time as a strengthening rand represents a significant, and unusual opportunity.
As Paul Hansen, STANLIB’s head of InternationalDirector, Retail...

December 2003
Internet nightmare

The recent theft of monies from private Internet banking accounts using sleuth software highlights the difficulty in keeping systems protected in the face of rapidly advancing technology. Not only is a business using...

December 2003
New software from STT

Local software developer, Securities and Trading Technology (STT), has launched Pension Manager, a new management software program. The company says it “offers cost-reduction opportunities, especially for efficient...

December 2003
Sharp reversal

There was strong worldwide demand for equity unit trusts in the second quarter 2003 marking a sharp reversal of the negative trend in the first quarter, says Association of Collective Investments CE Colin Woodin....

December 2003
Strategic alliance

Medscheme has introduced a new individual life product with up to R2 million life cover. In addition ancillary benefits of up to R1 million are provided (disability and dread disease cover) with no upfront HIV or...

December 2003
Venture partner

Sanlam Limited reached agreement in principle with its joint venture partner, Macquarie Bank of Australia, to acquire its 33,33% shareholding in the investment, portfolio management and administration business,...

December 2003
Harness time

Short-Term insurance intermediaries can deliver an impressive array of skills and services, if the public make full use of them. Mutual & Federal believes the broker adds value through knowledge, independent...

December 2003
Looking for synergy

Premium Credit SA (Pty) Ltd, a wholly owned subsidiary of FirstRand Bank Limited, has been sold to Insurance Outsourcing Managers Holdings Limited (INSURE), a company listed under the Specialised Finance sector of the...

December 2003
Strength here to stay

Despite pressure from vested interests Governor of the Reserve Bank Tito Mobweni would not be swayed from current monetary policy of targeting the inflation rate. Speaking on October 27th at David Bamber’s Investing...

December 2003
Dealer approval

Santam says it has entered into formal co-operation agreements with two vehicle towing and repair businesses, each the biggest in their field. The company hopes this will allow it to improve the standard of service...

December 2003
Getting smart

Legal insurance to enforce rights against decisions taken by the medical aid industry and medical service providers is now available from Family Benefit Services. This company markets Legal Smart, which it says is the...

December 2003
Not all bad

Recent volatile investment markets have placed the spotlight squarely on Retirement Fund investments and their ability to protect members’ assets and meet performance benchmarks.
The Guaranteed Fund...

December 2003
Exchange controls

Older South Africans who years ago set up clandestine offshore structures will leave their heirs a “poisoned inheritance” if they fail to apply for exchange control amnesty.

The warning comes from Anthony...

December 2003
Wealthier benefits

Living Annuities are a much-maligned part of the financial investment scene, according to Sam Robson of Glenrand MIB. “And provided they are properly managed they offer significant benefits, particularly for the...

December 2003
Need for willingness

The fundamental challenge for Black Economic Empowerment (BEE), and something that must still tax the minds of those signatories to the Charter, is to resolve a paradox: How do you deal with social problems with money...

December 2003
Standard body

In an effort to provide the local short-term insurance industry with its own standards body to focus on products and systems specific to insurers, the SA Isurance Association (SAIA) has successfully negotiated with...

December 2003
A weighty subject

Passengers flying Kalula.com are limited to 20kgs of luggage plus one cabin item. Such restrictions are part of the airline’s budget philosophy, and you pay R25/kg of overweight. This makes it awkward for those...

December 2003
Checking up

Evidently there’s been a huge increase in the import of used vehicles into South Africa, although it should come as no surprise they are not all genuine. Countries like Japan have an aggressive policy of encouraging...

December 2003
Fallen heroes

In recognition of the fallen heroes of the South African Police Service, Stolen Vehicle Recovery Company - TRACKER - has announced the creation of a Bursary fund for children.

Managing director Pierre de...

December 2003
Nick NAC

The name Metropolitan is to return to the JSE before the end of the year, provided plans to change the name of the group, currently listed as New Africa Capital (NAC), were approved at a general meeting of...

December 2003
Economic empowerment from the financial services sector

The Black Economic Empowerment (BEE) charter was finally published on 17th October 2003, after more than a year of discussions.

It was developed by the financial services sector as a whole, representing...

December 2003
Listen up

New legislation, which came into effect last month, requires that the hearing of employees must be “baseline tested.” This is in terms of the Noise Induced Hearing Loss (NIHL) regulations, which provides for...

December 2003
More helpful code

The Association of Collective Investments (ACI) has announced a revision to its Fund Classification, and this should help investors select funds and understand the various fund types.
Di Turpin Executive...

December 2003
Merger deal

The employee benefits industry in South Africa has, for the first time, a unified voice to represent its interests to other role players, following the merger of its two main representative organisations: the South...

December 2003
What's in a name?

CIMS Specialist Marketing (Pty) Ltd, in collaboration with Cre8sa (Pty) Ltd, the research and product development division of Alexander Forbes Risk Services, has announced the introduction of an insurance product to...

December 2003
Inflation poser

On 17th October, the Reserve Bank cut its repo rate again, this time by 1,5 percentage points, and evidently caught the markets by surprise, which had only expected a 1% cut. The rate has now fallen five percentage...

December 2003
Manageable

The marginal upward revision of the budget deficit for 2003/04 from 2,4% to 2,6% of GDP is lower than expected, and it should therefore not exert upward pressure on bond yields. This is the view of Jac Laubscher,...

December 2003
Member query

The setting up of South Africa’s social healthcare system is well underway, although it is only expected to start operating in about three years’ time. In January 2000, prescribed minimum benefits were introduced with...

December 2003
Finance rates decreased

The maximum annual finance rates chargeable in terms of the Usury Act in respect of money lending transactions, credit transactions and leasing transactions have once again been reviewed and amended. According to Moss...

December 2003
Channel choices

The long established principle that consumers should use professional expertise to guide them through complex financial matters holds truer today than ever before.
“It holds particularly true in the field...