Editorials

FIRST WORD

Were retirement funds to be consumed by prevailing sprits of negativity, they might be tempted as much as possible rapidly to offload SA stocks. They can’t and they shouldn’t. After the elections, there’ll still be life and promising signs do appear.
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LITIGATION

Losses due to the Trilinear debacle have caused a provident fund to sue the FSCA for R70m. A court date for the matter, to be defended, has been set.
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PUBLIC INVESTMENT CORPORATION

While the Mpati commission has its hands full, they could become still fuller. Structural and policy changes must follow.
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RESPONSIBLE INVESTMENT

A strategy for ‘alternative’ asset allocation is shown by a workers’ fund directly to benefit members. It’s seen in the launch of truck stops on SA highways.
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HOMELOANS

Another controversy for the PIC and GEPF is in how the payment of a commission was handled. Fortunately, a “mistake” was detected and rectified.
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CURRENTS

Radical review of stewardship codes in UK could resonate in SA; Actuary appeals against R40m damages award; Lila’s resignation from EPPF; Nedlac’s supposed consensus on social security; Paying for grants and savings; Lessons from the Gamas incident; Court orders needed to reverse erroneous cancellations of fund registrations; Adjudicator disturbed by TCF non-compliance.
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PAIA APPLICATION

Public servants unhappy with circumstances of PIC loan to Eskom. Questions raised over consultation, documentation and validity. At least the R5bn short-term loan, effectively from the GEPF, has been paid back.
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COVER STORY

There’re chinks of light in the ongoing saga of unpaid benefits, in worsening amounts, to members of pension funds. Successful tracing has proved a major problem. But in the list of what’s to be done, some institutions are doing it and have ideas for improvement.
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ECONOMIC EMPOWERMENT

A transaction by African Rainbow Capital makes Sanlam Investments the largest asset manager in terms of black-owned criteria. At the same time, Momentum becomes the first of the big life assurers to have achieved a Level 1 B-B BEE ranking.
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TRANSFORMATION

As the amended Financial Sector Code takes hold, here’s a guide to help retirement-fund trustees and advisors become familiar with the new set of disclosure requirements.
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IMPACT INVESTMENT

Why it must be the way of the future, and the sooner the better, especially in SA
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SHAREHOLDER ACTIVISM

What’s to prevent asset managers from formal cooperation when they “engage” with investee companies and exercise proxy votes? Might it verge on illegal collusion? Maybe not.
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GRAVY

Imbalanced swipe at private-sector funds.
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