Life offices and asset managers surpass B-BBEE ownership targets
Challenges remain with the representation of black people in executive director roles, ASISA’s latest transformation report shows.
ASISA
CIS industry sees R42.3bn in net inflows as investor confidence rebounds
Assets under management grew to a R3.8 trillion, up 13.7% year-on-year, supported by strong equity market performance.
Average living annuity drawdown rate lowest in five years
The marginal decrease in the average drawdown rate is noteworthy because it occurred in an environment of rising living costs, says ASISA.
Treasury proposes new framework to regulate hedge funds outside CIS
The proposal is for hedge funds to be subject to a different tax regime, potentially removing the ‘revenue versus capital distinction’ that causes tax uncertainty.
Life insurers, investment companies report a 46% surge in fraud and dishonesty
The industry lost at least R175.9 million last year but prevented losses of R1.5 billion through enhanced detection efforts, says ASISA.
How financial advisers can attract millennials with income protection solutions
Bidvest Life’s Nic Smit suggests shifting from the traditional approach of leading with death coverage to focusing on income protection when engaging younger clients.
ASISA says revised classification standard will make unit trust comparisons easier
The higher offshore investment limit necessitated a review of the standard.
Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
ASISA flags ‘problematic’ amendments to two-pot legislation
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
Unit trust outflows hit R6bn, but market performance pushes AUM higher
Jittery investors continue to forego the benefits of remaining invested in equity portfolios over the long term.
Kaizer Moyane set to lead ASISA as new CEO
Kaizer Moyane’s expertise in advancing strategic transformation aligns perfectly with ASISA’s focus, the association’s board says.
Experts warn of financial literacy crisis, call for co-ordinated action
At the FSCA Financial Education Summit, industry leaders outlined the shortcomings of current financial education efforts and the need for a strategic overhaul.
Profile releases rules for new unit trust awards
The highest Total Expense Ratio for each qualifying retail fund will be used for the performance calculations
How the process to make withdrawals from the savings ‘pot’ will work
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
Rise in life policy uptake despite economic pressures
Lapses and surrenders fell slightly in 2023, while consumers purchased more risk and savings policies than they did in 2022.
SA’s financial literacy challenge: navigating debt, unemployment, and education
The ASISA Foundation strives to empower individuals and communities to navigate financial complexities and make informed decisions.
