Issue: September/November 2008

First Word

SA’s savings ratio is deteriorating. So economic growth needs heavier reliance on foreign investors, which means contenders for high office in the new government should watch their mouths. Or they’ll frighten domestic savers too. Read full article...


SRI; More SRI; Costs of BEE; Class actions.

Consumer Education

Tales of opportunities lost. Where members of the public are most in need of pertinent information, that they can understand, they’re not getting it. Read full article...

Bond Trades

Call it sour grapes if you will, but there’s outrage over the way Investec has performed in the bond market. Rivals contend Investec engineered an unfair advantage. Investec says that’s nonsense. Read full article...

Cover Story

Dube Tshidi takes office as executive officer of the Financial Services Board. He expects nothing more from those the FSB regulates than to behave in a manner that’s “fit and proper”. If they don’t, he has ways of seeing to it that they do. Read full article...

This & That

Progressive curatorship progresses; Unprotected nominees; Independent trustees; PIC’s funeral loan; Mutual and Sanlam surveys; Fund members’ laxity; Plea on plea bargains.


An Appeal Court judgment raises serious issues with which linked-investment service providers will have to contend. In fact, the whole investment community should now be concerned about use of nominee companies for holding clients’ assets. Read full article...

Fund Withdrawals

Finance Minister Trevor Manuel is screaming about service providers and intermediaries fanning a “nationalisation” rumour that’s causing members to pull out of their retirement funds. He might be missing the main target and the right reason. Read full article...


The Joint Municipal Pension Fund wins court approval to sue the Financial Services Board over its R1,9bn loss on maize futures. Now the FSB can be joined among a host of other defendants, including the JSE.

Funds Costs

Back to active and passive management. Rob Rusconi discusses the need to balance fees with value.

Trustee Advice

A guide on what to do, and what not to do, when considering whether to fire a fund manager.


SA collective investment schemes, including retirement funds, can get into the action triggered by the US subprime crisis. They’d be letting down their investors if they didn’t at least make further inquiries.


If the 300 000 members of “the black public” who applied for shares in Sasol Inzalo could understand its prospectus, there’s no need to worry about SA having a low standard of financial literacy.