In this newsletter:
Benchtest 01.2015, covering our investment market commentary, pension funds and housing loans, the issues surrounding tied and untied annuities, an insight into RFS management structure and social responsibility, Namfisa reporting and other news from Namfisa, unlisted investments, another increase in the repo rate and more...
News from Namfisa
We understand that there are another 5 or so applications being considered by Namfisa currently. Of the two SPV’s that were now registered only the Tukuneni Capital Fund will be actively seeking investment capital while, we believe, Stimulus will not be raising investment funds at this stage.
Draft General Standards GEN.S
These standards appear to have been copied from text books teaching the ideal world. They impose extensive requirements and excessively onerous obligations and responsibilities on funds, their officials and service providers and inhibit the free market mechanism. No distinction is made on the basis of size of fund or the risk a fund poses to the financial system of Namibia. Of course with the extent of detailed obligations and requirements the regulator will also be challenged to supervise the financial services industry and will have to expand its resources substantially.
Local manager of Allan Gray Namibia has provided an even more elaborate reasoning for the disappointing performance which we are happy to provide to Allan Gray investors on request.
Find more on David's website, here...
Read the article by Pree Sarkar in Linkedin of 5 February 2015, to find out why a boss should not say these 5 things, here...
Read the full article here...