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December 2005
Non-nutritive….

Christmas is a time for reflection, and preparation perhaps for making your New Year’s Resolution. One thing you might want to think about, as the dinner table is laden with seasonal fare, is the question of food...

December 2005
Forced failure

A recent article from the Free Market Foundation, entitled, Why keep children in chains?

by Eustace Davie, highlights some of the serious issues facing us today in the context of School Education.
...

December 2005
Standards of mass instruction

“One word sums up probably the responsibility of any Governor and that one word is: ‘to be prepared’” - George W Bush, US President (‘Three words, actually, Pres,’ Ed.).

In addition, some words have been...

December 2005
Fair value

With the equity market having retreated 8% from its all-time high in early October, many commentators are questioning whether it is time to sell.

But Old Mutual Asset Managers senior portfolio manager...

December 2005
Getting connected

Business Edge Insurance is offering two streamlined administration services under its ‘InsureSlips’ package. Each is designed to reduce paperwork and handling errors.

The first is called BrokerSlips. The...

December 2005
Not deterred

Stanlib says it is not deterred by the huge rise in the JSE this year, and believes “there is still value to be had.”

Paul Hansen, director of retail investing confirms that the 8% JSE correction in the...

December 2005
Young can be brave

With the JSE up over 33% this year so far, investors may be wondering whether now is a good time to bank their profits.

However, Sunel Veldtman, director at Barnard Jacobs Mellet Private Client Services,...

December 2005
Skills worry

Foreign investor optimism about the prospects for South African infrastructure development has sent construction company shares soaring. During August and September all the construction companies released results that...

December 2005
Marketing opportunity

Hedge fund managers are sometimes perceived as ‘mystery managers’ who prefer to remain below the radar screens of the media and the markets, says Lizelle Steyn, manager of alternative investments at Nedgroup...

December 2005
Ratio risks

South Africa’s paltry savings ratio will have to rise if government has any chance of achieving its fixed investment goals during the next decade, says Old Mutual Asset Managers economist Rian le Roux.

...

December 2005
Avoiding shocks

It is not a foregone conclusion that the Reserve Bank will raise rates in December, although the risk of higher rates sometime over the next 12 months has increased, says Old Mutual Asset Managers (OMAM) economist...

December 2005
Foreign presence

Foreign involvement on the Johannesburg Stock Exchange (JSE) continues to account for a sizeable amount of weekly trading. To 31st August 2005 since the start of the year, for example, a total of R174,5 billion has...

December 2005
Must help

Government is actively addressing the issue of discrimination against disabled employees in the workplace. Technical Assistance Guidelines on the employment of people with disabilities is the most recent addition to...

December 2005
Revising cover

Clients often overlook the possibilities of saving on their insurance premiums. A review of your household and motor cover, perhaps twice a year, is a worthwhile exercise. You can both ensure you are correctly and...

December 2005
Death traps

When a child dies in an accident we have usually failed in our duties as parents. We are supposed to be their guardians; and it’s a privilege we should take seriously.

So why do so many parents carelessly...

December 2005
Keeping financially afloat

The Road Accident Fund Amendment Bill is currently being debated in the National Council of Provinces and is expected to be passed into law in the near future.

According to Tracy Pitman, Executive Officer...

December 2005
Word of advice

These days, children often go on expeditions with their school to places of interest, hiking, camping and the like. Such expeditions are beneficial for various reasons and are highly sought after by parents and...

December 2005
Pay what’s due

What happens when your retirement fund gives a projected value when we join, but that to our horror upon retirement we find the value is half what we expected?

Dave Vinnicombe, a director at the Durban...

December 2005
Administrator’s dilemma

Retirement fund administration has become so dismal that trustees are hard pressed to find quality. Their dilemma is how to evaluate and identify those administrators that rise above the mediocrity to bring them...

December 2005
Up, up and away

SA Revenue Services increased the Unemployment Insurance Fund threshold with effect from 1st October 2005. The monthly maximum remuneration for the purposes of calculating contributions rose from R8 836 to R10 966...

December 2005
More than meets the eye

The wealthier you are the less you seem to save. At least that’s what Anil Thakersee, Investments Marketing Manager at Old Mutual, thinks.

He is blaming, what he calls the ‘wealth effect’, for the steady...

December 2005
No shock shock

Gauteng’s frequent power cuts have caused substantial losses for business owners who are now rushing to take up insurance in a pre-emptive attempt to curb future losses.

Mark Rothmann, Senior Manager for...

December 2005
Pays, or should pay?

Another recent article about South Africa’s prison population revealed ‘optimism’ that the numbers had dropped, while lamenting the country still had ‘one of the highest rates in Africa and the world’.

...

December 2005
Being vigilant

I wonder how many families will decide to stay at home this Christmas, rather than face the dangers of driving on South Africa’s roads, or leaving their homes open to burglars? However, for those somewhat braver, here...

December 2005
Don’t cancel

The performance and costing structures of life company investment products, particularly retirement annuities, has been placed sharply under the microscope over the past year. Research conducted by independent actuary...

December 2005
Making rules stick

Vuyani Ngalwana, the Pension Funds Adjudicator, has issued a spate of rulings - 77 in total so far- involving retirement annuity (RA) funds. In many of these cases, he has ruled against funds for charging their...

December 2005
Out of court

The issue of jurisdiction has been deliberated upon in an interesting determination made by Charles Pillai, the Ombud for Financial Services Providers, against a Port Elizabeth broker.

Can the FAIS Ombud...

December 2005
Double dealing

The Ombud for Financial Services Providers has ruled twice in one day against Standard Bank in two carbon copy cases of misrepresentation where customers who had specifically requested traditional bank products were...

December 2005
Pessimistic view

Sanlam group economist Jac Laubscher is wondering whether the South African Reserve Bank (the SARB) is putting its credibility at risk by deciding not to increase interest rates while inflation keeps rising. He points...

December 2005
Don’t get over confident

In his address to a recent BER conference on Growing the South African Economy, Governor of the South African Reserve Bank, Tito Mboweni, warned against the South African consumer being carried away by the sustained...

December 2005
Really fast

Aon South Africa, a risk management and insurance consulting organisation that is part of the Aon Africa group, has been appointed the primary retail insurance broker for the ‘World Cup of Motorsport’, the A1 Grand...

December 2005
Warning for banks

South Africa’s banking sector may come under pressure if property prices fall and interest rates rise, raising the risk of default among mortgage holders.

This warning was included in the Reserve Bank’s...

December 2005
SAIA Approved update

With effect from the 1st October 2005, SAIA Approved (a subsidiary of The South African Insurance Association) has begun the process of registering and evaluating:

• Vehicle Security Fitment centres...

December 2005
Body bashing

How to preserve your body
Consume lots of aspartame: that’s a commonly used sugar substitute. When in the body it changes to formaldehyde, phenylalanine and methanol; it can also do this in the product itself if it is heated to above 30°C....

December 2005
A lot on your plate…..

In South Africa, legislation concerning food falls under many different government departments such as veterinary, health, and agriculture. The food and beverage manufacturer needs to refer to the following laws:...

December 2005
On all fronts

Collective investments continued to attract heavy inflows into balanced funds during the past quarter reflecting investor awareness of extraordinary stock market performances in recent years.

The latest...

December 2005
Cost cutter

South Africa’s return to the global fold has opened the country to many new influences and trends – and none more so than in litigation.

“We are becoming a very litigious society,” comments Ian Labram, a...

December 2005
Indirect benefit

Following recent market developments, every short-term insurer now has a broker arm - even the ones that are supposedly the biggest proponents of going direct.

So says Edward Gibbens, Executive Head:...

December 2005
Even keel

For the half-year to June 2005 the South African life assurance industry got in striking distance of R1 trillion in assets.

According to figures from the Life Offices’ Association (LOA) assets stood at...

December 2005
Next generation

Business Edge Systems says it has acquired local distributorship of Koukia, described as the next generation of ‘enterprise-wide short term insurance software.’
According to Tian Horn, the company’s...

December 2005
Flaw plan

Using long-established models to recruit black graduates is ‘deeply flawed’. This is because it does not reflect the realities of South Africa today, according to Lindi Mati-Grootboom, psychologist and Managing...

December 2005
Renewal issue

An expired driver’s  licence is not sufficient reason for an insurer to repudiate a claim, says Ben Rossouw, executive director of the SA Financial Services Intermediaries Association (SAFSIA).

“The...

December 2005
Consumer warning

The Insurance Sector Education and Training Authority (INSETA) has made an urgent appeal to black brokers to equip themselves with the necessary qualifications to become licensed and legal under the “fit and proper”...

December 2005
Mandate to act

Auto & General and BrokerNet have successfully negotiated a partnership that grants BrokerNet a mandate to act as a broker platform for A&G. 

Through the introduction of Dex technology – a...

December 2005
Door to INTEC

The number of qualified financial advisors is poised to grow dramatically following a substantial increase in the relevant study subsidy from the Insurance Sector Education and Training Authority (INSETA).

...
December 2005
Historically high

Consumer confidence among South Africans has never before remained so high for so long. Baring any unforeseen shocks, expectations are that consumer spending will probably remain strong for the next year or so and...

December 2005
Just rewards

The building materials company that manufactured asbestos containing products for more than 60 years, Everite Limited, has welcomed the imminent ban on asbestos announced recently by the Minister of Environmental...

December 2005
Most compliant

The Financial Services Board expects to have registered 13 500 financial services providers (FSPs) for authorisation by the end of this year. This is in terms of the Financial Advisory and Intermediary Services (FAIS...