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.
#AssociationforSavingsandInvestmentSouthAfrica
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.
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.
Common reasons life insurers reject death benefit claims
Life insurers paid almost 96% of death and funeral benefit claims last year – with the total payout worth R39.9 billion.
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.
Expect ‘investment opportunities’ punted via social media and messaging apps to be scams
ASISA provides a list of tell-tale signs that someone is trying to defraud you.
Old Mutual’s chief executive is new ASISA chairman
Mahesh Cooper, Allan Gray’s chief operating officer, is appointed as deputy chairman.
Investors reap the rewards of staying the course in (global) equities
Excluding reinvestments, the local CIS industry experienced net outflows in the year and the quarter to the end of March 2024.
ASISA says its members are working flat out to be ready for ‘two pots’
DA MP takes Old Mutual to task for comments suggesting the 1 September implementation date ‘may slip’.
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.
Retail investors drive net inflows into hedge funds in 2023
Hedge funds saw robust inflows for the second consecutive year, according to recent data released by ASISA.
