In this newsletter:
Benchtest 06.2012, RFS attracts another prestige client, Namfisa reporting, investment regulations, the FIM Bill, latest amendments to the Labour Act and more...
CONSULTATION: New drafts of Namfisa Bill and FIM Bill
REMINDER: Coronation closes portfolios to new clients
Coronation Fund Managers (Coronation) recently announced the closure of all Balanced and Absolute Mandates to new institutional clients with effect from 31 December 2012. In line with that announcement and due to the fact that Coronation is Namibia Asset Management’s (NAM) technical partner, NAM likewise announced that it will not accept new mandates from new institutional clients effective 31 December 2012.
Interesting media snippets
Think Libor’s bad? Fake China GDP is worse
Global economic forecasts nowadays are meaningless if they do not consider developments in the Chinese economy as a key contributor to the global economy. In this article, John McDonald comments on CNBC that “…lying by governments and banks – be it Libor rates or GDP statistics – raises the systemic risk to the market, which is much worse than economic risk.”
Four challenges of the SA Retirement fund industry
In an article by Richard Morris, associate director PricewaterhouseCoopers, in June 2012 issue of Cover Magazine the author concludes on 4 very topical matters:
Download the article here...
How the world has developed and how it could develop
in the future
This article in MoneyMarketing provides interesting food for thought for policy makers, suggesting that based on the experiences of successful countries, every developing country has the potential to sustain 8% annual growth (or higher) for several decades, and to become a middle- or even a high-income country in one or two generations.
The key is to have the right policy framework in place to facilitate private-sector alignment with the country’s comparative advantages, and to benefit from latecomer advantages in the process of structural change.
A two decade long pension scandal nears its end
For those readers who took a keen interest in the ‘Gavalas Option’ of raiding pension fund surpluses, here is a report from FANews on the status of this affair.
Pension backed housing loan guarantees
In this article by Pieter Cronje in June 2012 Pensions World, the author provides some guidance on what may or may not be acceptable with regard to sectional title and shareblock ownership, property owned by a trust, company or close corporation, buying or erecting an informal dwelling and buying building material.
Providing more than just a pension
In this article by Michelle Human, senior legal specialist Liberty Retail SA, in Pensions World June 2012, the author points out that a pension fund offers more than just a pension. namely: