Issue: June/August 2008

First Word

In the post-Polokwane dispensation, bringing power changes in the party controlling government, there’s a real danger that retirement funds will become politicised. Their assets are tempting prey. Read full article...


Passive investment; support for Adjudicator; defects in trustee training.


Compare the standards the Public Investment Corporation expects of JSE-listed companies with the standards applied by its sole shareholder to itself. They’re double standards, to be sure. Read full article...


There’s a fierce dispute about whether determinations by the OPFA are “binding”. The dispute needn’t be quite so fierce when clear legal principles are applied.

This & That

Though it’s generally to be welcomed, some difficulties do lurk in the new financial bill; Sanlam and FSB initiative on umbrella funds; US decision on suing for fund losses; Poor trustee performance in SA.

Cover Story

Socially responsible investment is an “in” thing. Pity that there’s more confusion than consensus over its meaning. That doesn’t stop just about everybody from doing it, one way or another, or at least saying they do. Read full article...

BEE Investment

There’s a serious fight under way on monies claimed by a retirement fund from a union investment company. It’s being taken to arbitration. Some R156m is involved. Read full article...

Pension Funds 1

Directives from the Registrar might be unconstitutional, says an advocate. He argues why.

Pension Funds 2

The advocate is talking nonsense, says the Registrar. He explains why.

Industry Funds

On the face of it, the Australian model looks perfect for SA. A local expert, however, isn’t quite so sure. SA has its unique complexities.

Service Providers

There’s no paucity of regulation, yet there’s insufficient clarity on the duties owed to clients. Here’s a way for clients to check on service providers for themselves.


Problems of retrospectivity, examined against thebackground of some recently decided cases.


The B-B BEE codes of good practice recognise indirect shareowners, such as black members of retirement funds, for scorecard purposes. Since it’s in the interests of so many, companies included, it’s curious that nobody seems yet to have taken advantage.

Principal Officers

Fresh leadership revitalises the POA. It’s intent on promoting professionalism. Read full article...


The dangerous juxtaposition of dire poverty and great wealth.