• Sharebar
April 2004
Where are you?

Old Mutual is still trying to trace about 270 000 people who have not claimed their shares to which they are entitled in terms of the company’s 1998 demutualisation proposal. They collectively own 97-million shares,...

April 2004
Dividend benefits

The dividends on shares still unclaimed by mid-August 2004 (currently worth about R250 million) will be reinvested in South Africa through the work of the Old Mutual Foundation.

“The Foundation currently...

April 2004
Pooled portfolios?

Apart from the day-to-day decisions trustees are faced with, such as the appointment of the appropriate investment managers, administrators or consultants, there is one vital decision that stands out from the rest:...

April 2004
Rand distress

For calendar 2003 we saw the rand appreciate a further 23% against the US dollar — and indeed it was the best performing world currency in the third quarter of last year. In all, over the two-year period since its low...

April 2004
Avoid fashion

Research by Investment Solutions and other market commentators using financial and industrial data spanning over 40 years has identified two unusual phenomena affecting returns on local and global equity markets. They...

April 2004
Thinking global

Investors are taking a positive view of offshore markets with foreign unit trusts recording their first net inflows since the September 2001 quarter.

Latest statistics from the Association of Collective...

April 2004
The sage of Omaha

It is that time of the year when Warren Buffett reveals his company, Berkshire Hathaway's annual results and provides his insights into current trends and investment issues. Consider the facts and it is easy to...

April 2004
Local caution

Investors world-wide bought equities heavily in the third quarter of last year pumping some US $102 billion into unit trusts, while bond funds remained largely out of favour. The latest global unit trust industry...

April 2004
Paper chase

The Financial Services Board (FSB), the Association of Collective Investments (ACI) and the South African chapter of Alternative Investment Management Association (AIMA) have issued a joint paper on the regulatory...

April 2004
Poor treatment

Every day, about 1 000 people die of tuberculosis (TB) in South Africa, giving it one of the worst TB records in the world. Even where it is detected, the suffocating disease can take two years to cure, compounding...

April 2004
Misdeeds

A recent edition of Moss Morris' Law News reported on a High Court judgment, which held to be unconstitutional legislation that entitled a local authority to recover from a property owner charges for electricity and...

April 2004
Trick or treason?

The Portfolio Committee on Justice and Constitutional Development has approved a far-reaching Bill, to be called The Prevention and Combating of Corrupt Activities Act 2004. The Bill, excluding clause 34(2), will come...

April 2004
Good for goods

Prior to 20th June 2003, when the Sea Transport Documents Act came into force, the owner of goods carried by sea against a bill of lading could only sue the carrier for any loss or damage if he were the named...

April 2004
Return to sanity

Under the latest tax legislation an individual can effectively earn R32 222 per annum free of income tax. If both of a married couple work this adds up to about R64 500 for the family unit — or over R5 000 per month...

April 2004
Lazy excuse

I have no problem with the authorities trying to eradicate abuse in all its guises. Whether it is child abuse, rape, discrimination in all its forms, unfair treatment of labour, and so on. All these are important...

April 2004
All in the food

Of all the economic statistics issued by the South African government, the inflation figures usually spark the most public interest. This is understandable, says Sanlam’s group economist, Jac Laubscher, as most people...

April 2004
Affording access

South Africa’s unit trust industry is fully committed to giving millions of new emerging investors access to collective investments, says John Kinsley, newly elected chairman of the Association of Collective...

April 2004
Adding stability

In line with market trends Sanlam’s Stable Bonus Fund made a very good recovery after last year’s sharp decline in the market. Bonus rates of 4,5% were declared on endowment policies in the closed bonus class (...

April 2004
Creditable performance

Gross premium income rose by 16% to R6 486 m, and gross underwriting profit increased from R116m the previous year to R392m for Mutual & Federal’s year ended 31st December 2003. General expenses increased only 8,5...

April 2004
Going professional

STANLIB’S whopping R5 billion growth in new cash management mandates in 2003 suggests local companies are catching up with the world trend toward professional money market management.

“In effect South...

April 2004
Inflation threat

Guaranteed annuities provided by life companies look like a particularly attractive option in the current low inflation environment.

With inflation having fallen to a 40-year low of 4% in December 2003,...

April 2004
Solutions from Fivaz & Ogle

It is really sad to think that huge numbers of claims are being repudiated every day. Short-term insurers are keen to emphasise their readiness to settle claims. It is, after all, “their shop window.”

But...

April 2004
Regular review

When last did you review your insurance? If you can’t remember, the chances are many of your possessions are not adequately insured, especially those you recently bought.

Many people wait for the annual...

April 2004
Savings tip

It is extremely expensive to insure your household goods through the firm you have chosen to carry out your removal. Rates are typically around 3% to 3,5 %. Even for a modest home that could easily amount to around R8...

April 2004
Needing a fix

The low interest and inflation rate environment in South Africa is usually not good news for pensioners. In response Channel Life has launched a new product aimed at the investor looking for a fixed return over a...

April 2004
For life

Hollard Broker Solutions (HBS) is now offering improved benefits at no additional cost to existing policyholders for its Dread Disease and Specific Cause Debility covers. Other similar improvements are in the pipeline...

April 2004
Plot provider

Burial plots can be very expensive. In Soweto and neighbouring areas they can cost from R 2 500 up to R5 000, adding to the already prohibitive price tag of a funeral. Policies that provide funeral insurance usually...

April 2004
Easy rider

It may have been a bit of a nightmare for those with insurance products linked to the stock market, such has been the volatile roll-coaster rise over recent years. But it was a period when the much-maligned smoothed...

April 2004
Barrier to entry

It has often been said that property is not a very good investment. Commentators look at historical performance, pointing out that property has barely kept pace with inflation. Indeed, there have been a number of...

April 2004
Adverse trends

Only one employee benefit member in 16 makes it to retirement and a lump sum payout. At least this is according to findings of Lekana Employee Benefit Solutions. Lekana is entrusted with more than R15 billion in...

April 2004
Staying in the loop

The life assurance industry has been undergoing fundamental changes with specifically most products being unbundled into pure risk and pure investment.

Michael Blain, GM: Business Development, Nova Group...

April 2004
Still searching for policyholders

When Old Mutual listed in July 1999 the shares that were not yet claimed — some 300 million shares for 584000 shareholders — were put into the Unclaimed Shares Trust (UST) for safekeeping until the rightful...

April 2004
Two so far

So far there have been two listings on the AltX board: Beige Holdings Ltd and Insurance Outsourcing Managers Holdings Ltd (Insure). Both transfer their existing listings, Beige from the Venture Capital Market and...

April 2004
Tax clarity

The Association of Collective Investments has clarified the tax issues surrounding the merger of unit trust portfolios. A spokesman says the relevant section of the law requires that where the base cost of the units...

April 2004
Broad-based

Global professional services firm Deloitte & Touche is now known simply as ‘Deloitte’. This became effective February this year.

Chief Executive Deloitte Southern Africa, Vassi Naidoo, explained some...

April 2004
Strategic focus

SA Eagle reported a significant underwriting profit of R127,7m for its year ended 31st December 2003, compared to a loss of R21,3m the previous year. Headline earnings increased by 135,1% to 1,475.5 cents per share....

April 2004
Mutual benefit

Metropolitan Life has announced an agreement with AIG Life South Africa Ltd. This is a specialist company focused on Accident and Health and Risk Finance, and is a member company of New York based American...

April 2004
Going it alone

The Metropolitan Group enjoyed a substantial increase in overall profitability for its year ended 31st December 2003. It amounts to a welcome turnaround on the previous year that saw a negative combined insurance and...

April 2004
PSG move

PSG-owned life assurer Channel Life is set to become one of only a handful of true black-empowered companies. This follows the news that long-standing Member of Parliament Desmond Lockey is to become the controlling...

April 2004
‘Yes’ vote

In November, the company sent out more than 400 000 ballot papers to unit-holders asking for their approval for its Fund Consolidation strategy, to reduce the total of 79 collective investment schemes down to 49. The...

April 2004
Too much discretion

The draft Regulation 28 of the Pensions Fund Act, 1956, which was intended to replace existing investment guidelines, has been withdrawn from the Minister of Finance’s office. According to Mushtaq Parker, Senior...

April 2004
Debt control

Consumer protection in all its guises continues to gather momentum. The latest addition to the armoury is a Credit Information Ombud, whose office was launched on March 12th 2004.

Manie van Schalkwyk has...

April 2004
Sharing data

TransUnion ITC has purchased Mead and McGrouther, publishers of the well-known motor vehicle price guide, used by the trade for many years in the second-hand car market. The terms of the deal have not been disclosed,...

April 2004
Empowering

The Financial Services Charter for Black Economic Empowerment was launched during October 2003. It is the view of the Board of the SA Insurance Association that the adoption of the Charter will rank amongst the most...

April 2004
…and ID theft

Increasing numbers of identity theft is contributing to fraudulent claims which have cost the life assurance industry over R200m in the first nine months of 2003 alone.

This is just one of the issues that...